Category: Blogs – Trust and Estates
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The Tax Implications of the Trusts
What is a Trust? A Trust is a legal arrangement between a ‘Settlor’ and ‘Trustees’. Trustees hold certain assets which previously belonged to the Settlor and use those assets to benefit one or more of the ‘Beneficiaries’. The details of the arrangement are contained in a legal ‘Deed of Trust’ document which names the people…
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Introduction to Personal Injury Trust
What is a personal injury compensation trust? A personal injury trust allows the compensation that you receive because of an accident or injury to be disregarded when you are assessed for means tested benefits. It may also protect your compensation from being used to pay any care fees if you need to go into residential…
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Charitable Gifts and its Tax Implications
Donations by individuals to Charities (and Community Amateur Sports Clubs) are tax free. How this works depends on whether you donate: in your will; through Gift Aid; straight from your wages or pension through a Payroll Giving scheme or if you gift land, property, or shares. Leaving gifts to charity in your will There is no Inheritance Tax…