With many families reviewing their personal estate planning in light of the current pandemic, many are looking to trusts as a means to protect their assets.
Trust Establishment: What do I need to consider?
Trusts are a popular structure for families to use but it is important to make the trust work for you and your personal circumstances. There are various options to choose from - whether a traditional domestic trust or perhaps an alternative structure. Equally, your interests may suit a more commercial structure such as a partnership or company. In some complex cases a tailor made structure might combine all of these elements.
An integral part of our advice will be to focus on the tax implications and whether the on-going financial commitments warrant the return. A sound understanding of your financial, business and family circumstances and objectives is essential. We will co-ordinate and “project manage” work requiring the involvement of advisers in other fields and jurisdictions.
For more information about international trust structures and wealth planning, please click here.
As well as advising founders or “settlors” and their families, we also support trustees.
Trust Management: How do I manage a trust once established?
Many of our clients like us to maintain and administer their trusts. We manage over 800 trusts on behalf of clients; some of these have been in existence for generations, but many are more recent. These cover UK resident family, charitable and personal injury trusts, with a wide range of trust assets including cash, investments, family company shares, land and houses.
We support UK trustees in the management, accounting and tax issues they face, including:
- providing professional trustees where required, including our own dedicated trust corporation
- preparing trust accounts and financial statements
- liaising as required with investment advisers
- managing all the trust's tax affairs, including calculating tax liabilities, meeting HMRC compliance requirements and dealing with beneficiaries' trust tax affairs
- recording the trust's investment policies and monitoring investment performance.
Meet the team
- Call William +44 (0)20 7427 6540
- Email William
- London office
- Call Robert +44 (0)20 7203 5129
- Email Robert
- London office
- Call Andrew +44 (0)20 7203 5227
- Email Andrew
- London office
- Call Sangna +44 (0)20 7427 6565
- Email Sangna
- London office
- Call Julia +44 (0)1242 246331
- Email Julia
- Cheltenham office
- Call Henry +44 (0)20 7203 5293
- Email Henry
- Cheltenham office
- Call Charles +44 (0)20 7427 6737
- Email Charles
- London office
- Call Dominic +44 (0)20 7427 6749
- Email Dominic
- London office
- Call Suzanne +44 (0)20 7203 5267
- Email Suzanne
- London office
- Call Piers +44 (0)20 7203 5352
- Email Piers
- London office
- Call Christopher +44 (0)20 7203 5000
- Email Christopher
- Cheltenham office
- Call Catriona +44 (0)20 7203 5265
- Email Catriona
- London office
- Call Nicola +44 (0)20 7203 5139
- Email Nicola
- London office
- Call Alice +44 (0)20 7427 6424
- Email Alice
- London office
Our thinking
Matthew Radcliffe
Matthew Radcliffe writes about ESG and trust investment for IFC Review
Matthew Radcliffe writes about ESG and trust investment for IFC Review
Tom Henderson
Tom Henderson joins Charles Russell Speechlys as Head of Trusts
Tom Henderson joins Charles Russell Speechlys as Head of Trusts
Dominic Lawrance
Dominic Lawrance and Catrin Harrison write for Tax Journal on HMRC v Embiricos
The case is about the eternal tension between HMRC powers and taxpayer rights, and whether the balance of power has shifted too far.
Matthew Radcliffe
Taxes On Wealth – The Global Landscape
How will new taxes on wealth affect your wealth management and structuring?
Eddie Richards
Property Professionals: Big Sheds and Logistics
Join us as we discuss the the key challenges facing operators and investors in the logistics space.
James Broadhurst
Charles Russell Speechlys advises Fudco Partnership on sale to Exponent-backed Vibrant Foods
Fudco is a family-owned business selling South Asian ethnic foods in UK and Europe.
Julie Sharpe
Property Professionals: Spring Budget Announcement
Join us as we discuss the highlights of the recent budget announcement.
Harman Bains
Spring Budget 2021 - predictions
Spring budget 2021 - what will the Chancellor do?
Fabianne de Vos Burchart quoted in International Investment on the new Swiss regulatory system for the trust sector
Tax Journal and eprivateclient cover the hire of tax specialist Sophie Dworestzsky from Withers
Dominic Lawrance
No cure for collective insanity
HMRC confirmed that they do not consider offshore income gains to be covered by the so-called “protected settlements” regime.
Place of taxation of brokerage commissions
The new version of Article 21 the Cantonal and Communal Income Tax Harmonisation Act (CCITHA) will enter into force on 1 January 2019.
Suzanne Marriott
Suzanne Marriott quoted in Cayman Islands Journal on data protection legislation issues for trust services providers
Dominic Lawrance
Collective insanity: the problem with offshore income gains - and what the Government hasn’t done about it
Sweeping changes to the taxation of non-UK resident trusts with UK resident settlors not rectified in latest Finance Act.
Charlotte Pender
Charles Russell Speechlys promotes eight to Partner
A further four have been promoted to Legal Director and 22 to Senior Associate.
Dominic Lawrance
UK resident non-UK domiciliaries: the remittance basis
Non-domiciliaries planning on becoming resident in the UK ought to be aware of the remittance basis of taxation.
Dominic Lawrance
Non-UK domiciliaries: Inheritance tax issues and opportunities
An introduction to inheritance tax issues that need to be considered where a “non-dom” is planning on becoming resident in the UK.
Dominic Lawrance
Tainted love: ensure your trust stays protected
The April 2017 tax reforms in relation to foreign domiciliaries brought major changes to the regime that applies to offshore trusts.
Mark Summers
Charles Russell Speechlys crowned 'best legal team' at the WealthBriefing Swiss Awards 2018
The triumph is another milestone in establishing the firm’s growing reputation in Switzerland.
29 lawyers ranked in Chambers High Net Worth Guide 2017
We performed extremely well and received some fantastic feedback from clients and contacts.