Trust Fund Tax and Estate Planning in Edinburgh
Anderson & Edwards advises individuals and families in Edinburgh and across Scotland on trust fund tax, estate planning and inheritance tax. Whether you’re thinking about how to protect what you’ve built or you’ve inherited a trust and don’t know what to do with it, this is what we do.
Looking after your loved ones
You want your money, property, or business to go to the right people when the time comes. Without proper planning, you can lose control. Trusts are one of the most effective ways to manage this, but they come with their own compliance requirements and tax obligations. Most people don’t find that out until it’s too late.
Trust and Estate Planning Services in Edinburgh
Trust tax returns
We prepare and file trust tax returns, making sure income and gains within the trust are reported correctly and tax is paid at the right rates.
HMRC Trust Registration Service
Most types of trust now need to be registered with HMRC, even those that don’t pay tax. We handle the registration and keep it updated.
R185 forms
When a trust distributes income to beneficiaries, we prepare the R185 forms that beneficiaries need for their own tax returns.
Holdover relief and exit charges
When assets move in or out of a trust, there are capital gains and inheritance tax implications. We handle holdover relief claims, exit charges, and principal charges (IHT100 forms) so that transfers go through correctly.
Repayment claims for beneficiaries
If a beneficiary has overpaid tax on trust income, we submit repayment claims to HMRC on their behalf.
Inheritance tax planning
Beyond trusts specifically, if you want to understand your overall inheritance tax position and what you can do about it, we advise on that. Gifting strategies, business property relief, agricultural relief. It depends on your situation.
If this sounds like you, we can help;
- A parent or family member has died and you’re now responsible for a trust
- You’re thinking about setting up a trust to pass on property or wealth but have no idea where to start
- There’s an existing trust and you’re not confident it’s structured the right way
- HMRC’s Trust Registration Service needs dealing with and you’d rather someone else did it
- You want to understand how inheritance tax applies to your estate and what your options are
- Someone has mentioned an IHT100 form or “the 10 year charge” and you have no idea what that means.
Speak to an Edinburgh Trust and Estate Tax Advisor
James Edwards MA ATT CTA – Tax Director
This is personal stuff, and every family situation is different. When you call, we’ll ask about your circumstances: what assets are involved, who the beneficiaries are, whether there’s already a trust in place or whether you’re starting from scratch. If there’s been a bereavement, the tax side is the last thing you want to be dealing with. We’ll take as much of it off your plate as we can.