01603 214 220

Services / Wills, Tax and Probate / Tax Planning and Trusts

Tax Planning and Trusts

Our team in Norwich offer a variety of tax-planning services to individuals, families and family-owned businesses on topics including inheritance tax planning, capital gains tax and income tax. This often involves the creation of trusts.

Inheritance tax planning is a specialism at Hatch Brenner. We know that it is increasingly difficult to keep up with the changing tax landscape. Understanding how tax regulations affect your ability to provide for your family and pass your wealth to the next generation can be particularly complex. That’s why we make the process as straightforward as possible. Where appropriate, we work with experts such as accountants and financial advisors to ensure your wishes are carried out.

How we can help with tax planning

To begin, we help you consider your current financial circumstances. It’s important to identify if you have particular concerns that require safeguards (such as impending divorce in the family or potential bankruptcy), along with the tax consequences of your death. After this, we discuss your aims for the future, before considering ways to reduce the tax burden or protect your assets, for example, against payment of care fees.

What's involved in inheritance tax planning

We look at some or all of the following issues:

  • Lifetime gifts either directly to individuals or into a trust
  • Gifts within the annual allowances for inheritance tax planning
  • The capital gains and inheritance tax consequences of gifting assets
  • The use of business property relief (available on certain investments or your business)
  • Updating your will to ensure full use of the Nil Rate Band
  • Charitable giving to secure a reduced rate of inheritance tax on your estate

If it is considered advantageous to set up a trust, we will consider the appropriate type with you including:

  • Bare Trust
  • Declaration of Trust
  • Life Interest Trust
  • Discretionary Trust
  • Personal Injury Trust
  • Disabled Persons Trust

We will also consider the tax implications of each option.

We then draft the Trust Deed and handle all the formalities, including registration of the trust with the Inland Revenue if required.

Ongoing management of trusts

We are often appointed as trustees for the ongoing management of trusts. We can deal with all relevant requirements during the lifetime of a trust. This may include the retirement and appointment of new trustees and the appointment of assets out of the trust.

Our expertise

The solicitors in our Norwich-based Wills, Tax & Probate team are full members of the Society for Estate Practitioners (STEP). They have extensive experience with inheritance tax planning, trusts and are ideally placed to provide professional legal advice relating to trusts

Contact us on 01603 214 220 today to discuss your tax-planning needs.

Please contact one of the team to discuss your specific requirements.

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If you would like further information about any service, call us on 01603 214220