Individuals, families, trustees and executors

Our trust and tax administration team assists in a variety of areas. At its core, it manages a large number of family trusts, dealing with their day-to-day management and other issues. The team also assists with estate accounts for the wide variety of estates that the Private Client team administers. Increasingly, the team also assists individuals with preparing their personal tax returns.

The main areas of work include:

  • Producing annual trust accounts and estate accounts
  • Completing and lodging annual trust, estate, and personal Tax Returns, including payments on account of tax
  • Assisting with complex Capital Gains Tax calculations for complex assets, often including residential property or for non-resident individuals requiring 30 day reporting.
  • Dealing with inheritance tax events such as appointments of capital.
  • Day to day bookkeeping such as recording entries of income and capital events.
  • Liaising with other professional advisors on behalf of trustees or beneficiaries regarding trust assets (e.g. property managers, investment advisors)
  • Liaising with beneficiaries on behalf of trustees or executors on matters such as income or capital distributions, providing certificates of deduction of tax and income schedules
  • Advising the trustees on the rapidly changing legislation governing trusts such as the Annual Finance acts
  • Advising on the reporting requirements for trusts including the Trust Registration Service, Common Reporting Standard, and FATCA

In addition to our trust management role, the Russell-Cooke Trust Company acts as a professional trustee for many trusts.

Our team and approach

Members of our trust and tax administration team come from an accountancy background and work closely with lawyers in the Private Client teams. We have the expertise, specialism and flexibility to offer a bespoke service based on individual client’s needs.

Many of our trust managers and lawyers are members of professional organisations such as the Institute of Chartered Accountants in England and Wales (ICAEW), the Society of Trust and Estate Practitioners (STEP), the Association of Tax Technicians (ATT), and Solicitors for the Elderly.

If you would like to speak with a member of the team you can contact our solicitors on; Kingston office 020 3826 7529 or Putney office 020 3826 7515 or complete our enquiry form.

Society of Trust and Estate Practitioners

The Society of Trust and Estate Practitioners (STEP) is a unique professional body providing members with a local, national and international learning and business network focusing on the responsible stewardship of assets today and across the generations. STEP provides education, training, representation and networking for its members. Members advise clients on the broad business of the management of personal finance. Full members of STEP are the most experienced and senior practitioners in the field of trusts and estates.

www.step.org

Private Client Practitioner Top 25 Law Firms

eprivateclient is the leading website and news service for private client practitioners, including lawyers, accountants, trustees and fee-based IFAs. It is the only place to see the results of the Private Client Practitioner Top 25 Law Firms, Top 25 Accountancy Firms, Top 25 Trust Companies, Top 25 IFA Companies, Top 35 Under 35 and 50 Most Influential.

eprivateclient.com

We aim to charge for general trust administration work on a fixed fee basis, to give trustees an element of certainty.  Our fee is based on the number and complexity of transactions, and includes the preparation of trust accounts and tax returns.

Any additional one-off work (such as the appointment of a new trustee or the IHT 10-year charge on discretionary trusts) would be outside the scope of the fixed fee, and is billed separately on the basis of time spent and the seniority and experience of the personnel involved.

We will provide you with an initial estimate of your likely legal costs and will update this if necessary as your requirements or the circumstances of the work change.

We would be pleased to discuss your requirements and produce a costs estimate accordingly based on the type and complexity of the work involved.

STEP

The Society of Trust and Estate Practitioners (STEP) is a unique professional body providing members with a local, national and international learning and business network focusing on the responsible stewardship of assets today and across the generations. STEP provides education, training, representation and networking for its members. Members advise clients on the broad business of the management of personal finance. Full members of STEP are the most experienced and senior practitioners in the field of trusts and estates.

www.step.org