We are becoming increasingly concerned about the threat of tax investigations (Enquiries) given that the black hole in the economy is getting deeper by the day.
When you have spent a whole lifetime building up your personal wealth, you want to think that upon your death your estate will pass into the hands of your chosen beneficiaries and not into the hands of the Taxman.
With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.
It is a fundamental part of the Self Assessment system that responsibility lies with the tax-payer to file Returns, if required, and pay the right amount of tax, at the right time.
Trusts are relatively easy and very tax efficient way to set aside assets for future beneficiaries outside of the inheritance tax net.
