Trusts continue decline as self-assessments fall and HMRC bureaucracy intensifies—Spears
An article featuring private client partner, Suzanne Mynors, examines newly published HMRC data, highlighting the continued decline in the use of trusts for tax management among HNWs, with increasing costs and bureaucracy potentially rendering trusts useful for only the richest clients.
We can't do what we used to be able to do. The benefits of trusts are really quite limited now. The majority of my practice is winding up or terminating trusts.
The full article is available to read online on Spears.
Suzanne Mynors is in the private client team, specialising in wills and succession planning, probate and estate administration, trusts and trust taxation, inheritance tax planning, powers of attorney and mental capacity work.
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