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Depending on your circumstances, setting up a trust could be a good way to protect the assets of your business for future generations.

Putting Your Faith in Trusts

Have you thought about who will take over your business when you retire? Have you had a complete financial review of your business and personal circumstances recently? Do you understand how trusts work?

Trusts may also be set up for other reasons such as to look after your children’s affairs, manage your business when someone is unable to do so due to ill health, and also to pass on money or assets either during your lifetime or after you’ve passed away.

We can provide clear financial advice in simple terms. It’s our job to explain the complexities of trusts in a clear and easy to understand way. This allows you to make an informed decision on your business and personal finances.

Choose GWA to look after your trust and we will provide reliable advice including:

  • How to protect your assets without relinquishing control
  • How to use a trust in relation to your will and family wealth planning
  • How to administer your trust correctly to avoid any potential financial pitfalls

Don’t leave the future to chance. Get in touch for a no obligation meeting to discuss your trust options

Useful Resources

Related Updates

Inheritance Tax

It is difficult to recollect a more seismic Budget in recent times. The last major changes to Inheritance Tax were made in 2006, but mainly in relation to Trusts. There was an expectation that Inheritance Tax reliefs would be reformed, most likely for landlords who lease out land which qualifies for Agricultural Property Relief (APR). It was considered much less likely that Business Property Relief (BPR) would be reformed, and there was a distinct lack of speculation in this regard.

End of Year Tax Planning

Wednesday 5 April 2025 sees the end of the current Tax Year. Following the new Chancellor's plans to continue to freeze
and in some cases reduce tax-free allowances; it is more important than ever to make the most of some timely tax planning.

Why leave the future to chance…

In simple terms when we talk about business succession we mean the long-term plan for the business. In practice, it is difficult to cover all of the taxation and accounting issues surrounding succession in business across the generations in one short article, but here goes . . .

Scotland’s Register of Persons Holding a Controlled Interest in Land

On 1 April 2022, the Register of Persons Holding a Controlled Interest in Land (“RCI”) came into being in Scotland. This will have implications for landowners and tenants.