Our Trust Audit Service


 


Not registering a trust or submitting a tax return when one is due can result in fines being levied which is an unnecessary and costly expense on the Trustees.

This can be avoided by knowing for certain whether the trust does indeed need to register and whether a tax return does need to be completed. 

Our Audit Service has been designed with both settlors and trustees in mind. The purpose of the audit is to provide certainty for the Trustees with regards to the status and the registration requirements of their trusts. 

However, the Audit goes further than simply deciding what to do next, it is designed to also consider any unforeseen future tax liabilities that could fall on the trust, and which could detriment the settlor’s estate.  

By the end of the audit process, we will ensure that you know if: 



  • the trust does or does not need registering 

  • the trust requires the submission of a tax return 

  • the trust assets are likely to trigger a chargeable event in the future 

  • the settlor’s estate is as tax efficient as it can be establishing if all tax reliefs are still available to it