Saving your time, enhancing your wealth.

As a specialist in providing advice to company directors and shareholders we can help you and your business develop the right strategies to maximise the use of company profits and minimise the payment of unnecessary tax to ensure that your family and business wealth is preserved for current and future generations.

Mackay Macpherson

To ensure the continuity of your business, it is important that adequate arrangements are in place to pass on your assets should you die prematurely, both tax efficiently and ensuring that the true value of your assets are available to your family quickly in the event of changed circumstances.

For most people, the perception of Trusts is that they are mysterious things that are costly to set up and are only available to the wealthy. A Trust, drawn up by an expert, can provide very valuable tax planning and protective functions for you and your family.

Passing the Business on to Your Family

Most people, who build a successful company or business through their own hard work, do so in the hope that the children who work in the business would one day take it over. They do not mind generally [as they reach retirement] giving their children control of the business. However, often a child's choice of spouse leads to a worry as to what would happen in an asset split, should the marriage fail. If the worry of what could happen to your business or assets if your children get divorced is of concern to you, then a suitable Trust may provide the solution to your dilemma; leaving you or your children in control of, but not owning, the assets.

Why Set Up a Trust?

There are many different reasons why you may consider putting money into trust.

The following are some of the main ones:

  • To make prudent provision for your family and later generations in case of unforeseen circumstances.
  • To assist in tax planning. Setting up a Trust may help to reduce tax liabilities and can be especially helpful in minimising potential Inheritance Tax liabilities.
  • To make a gift with conditions based on your wishes or the beneficiary's circumstances. You can set down guidelines on how your Trustees should deal with the Trust and at what age and in what circumstances your intended beneficiaries can have full benefit from the Trust.
  • To protect assets. Where, for whatever reason, you think it appropriate that assets are placed in Trust rather than allowing a beneficiary full freedom to dispose of them.

For more information please read our Inheritance Tax Planning section.