Find out a lost Child Trust Fund, even if you don’t know the provider. Amongst all the Child Trust Funds in the UK, more than seven lacs of them remain non-operational for the most part because of different reasons such as the inactivity of the people, or the wrong contact information provided. These millions of […]
Managing the estate or property of someone after their death can be troublesome especially when you are not familiar with the ways to mitigate tax effects. Amongst the various things to deal with after the death of a loved one is the inheritance tax. Inheritance tax is the tax imposed on the estate of a […]
Brexit’s Effect On Trusts
Despite the fact that Brexit has not made any changes to private client work in any way, it is supposed to have a knock-on effect on Brexit. It is focused on the limelight on how English trusts work for clients. New money laundering directives are supposed to contract rules around the transparency of trust ownership by putting more of them on a central register. Any trust whether or not it has consequences needs to report to the Revenue and there must be a register that is available to interested parties. Before Brexit, all express trusts administered in the United Kingdom would have to be registered with HMRC, even those that have no current tax consequences.
British trust law has the credibility of a long, fascinating history date back to the feudal times of the 12th century. Initially, trusts we generally used for managing ‘will monies’ and to create family settlements. Of late, “trust” has turned to be an umbrella term for various financial frameworks. It is destined to let citizens […]