Tax Treatment
Tax treatment depends on the individual circumstances and subject to change in the future.
What is unique about our Trust Services?
We specialise in protecting family wealth and have many years of experience helping clients with Trusts and associated considerations, including Inheritance Tax, Income Tax and Capital Gains Tax.
Our specialists can also manage the associated administration, free from any potential conflicts of interest, if appointed as trustee.
We do not charge application, registration or set-up costs and have no minimum fee, provided the fund size is at least £10,000.
This Service is provided by our Tax and Trustee Services team, as we recognise that the specialist management of Trusts is critical to ensure clients’ wealth is sufficiently protected.
Our Trust Services are administered by our wholly owned subsidiary, Killik & Co Trustees Limited, a dedicated trust company and professional trustee.
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How our Trust Services work
We will start with a conversation to understand your requirements, asking appropriate questions to ensure we know how you would like the trust managed.
Once we have gained a detailed understanding of your requirements, we will help you decide on the most suitable type of trust and tax treatment for your needs.
We will then create your trust, prepare the deed or will, and advise of any further requirements regarding its set-up.
Your Adviser will capture your requirements and assist with creating the trust with your ongoing support and management services provided by our Tax and Trustee Services team.
Frequently Asked Questions
What is a trust?
In simple terms, a trust is the transfer of assets to a group of people or specialist company with instructions that they should hold these assets for the benefit of others. Although the trustees are the legal owners, the beneficiaries are the equitable owners.
Why set up a trust?
Trusts address taxation and family issues and can be created during an individual’s lifetime or by their will. In addition, statutory trusts are established for minor beneficiaries of a will (or intestacy) until they reach the age of 18. Trusts can be helpful for a variety of purposes, including:
- Leaving legacies in your will to a class of beneficiaries (e.g., children and grandchildren) to preserve wealth for future generations or where some or all of the beneficiaries are minors
- Preventing beneficiaries from automatically becoming entitled to capital at the age of 18
- Managing assets on behalf of vulnerable beneficiaries (e.g., someone with physical or mental disabilities)
- Gifting assets for inheritance tax planning purposes (without providing beneficiaries with immediate access to capital)
- For charitable purposes
How much do our Trust Services cost?
For existing clients, we charge an annual trust administration fee of 0.25%, subject to a minimum of £200 and a withdrawal fee of 3%. We also charge £250 for a trust deed, £250 charity commission, £200 for the preparation of accounts, £25 for each cheque issued, and 1.5% on all funds deposited.
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