Trust & Estate
Your dedicated lawyer will guide you through your Will
Read our trustpilot reviews
Will Trusts & Complex Estates
Trust and Estate registration
If you are a Trustee of a Trust, or the personal representative of an estate, you may have to provide information to HMRC within certain timescales. You may also be personally liable for any penalties incurred if you do not meet your registration and reporting requirements.
At Goughs, we can assist you with registering a Trust or Estate.
Trusts which meet the following conditions must be registered through the online service:
The Trust has been expressly created. The Trust must be deliberately set up by the person who made it. In other words, it has not arisen automatically through law (such as statutory, resulting, or constructive Trusts)
The Trustees have incurred a tax liability. This could be Income Tax, Inheritance Tax, Capital Gains Tax, or Stamp Duty Land Tax. However, this condition will not be met if the liability in question is an income tax liability of less than £100 incurred through bank or building society interest.
Estates which are considered by HMRC to be ‘complex’ must be registered. An estate that’s considered ‘complex’ would fall into any of the following categories:
Has a tax liability (for income tax and/or capital gains tax) of more than £10,000 over the entire administration period
Has a value at the date of death in excess of £2.5m
The proceeds of any assets sold by the personal representatives in any one tax year is greater than: £250,000 (for deaths before 6 April 2016), or £500,000 (for deaths on or after 6 April 2016).
Don't risk your
Your trust solicitors since 1882
Popular questions about
Trust and Estate registration
If you are a Trustee of a Trust which must be registered, but you do not do so in the relevant timescale, you may be personally liable to pay a penalty. Each matter is assessed on a case by case basis.
How much does it cost to make a Will?
Very professional service
Very professional service - at a difficult time due to Covid 19.
Helpful, prompt and efficient
Ms Michelle Fielding
I would definitely recommend Goughs
I definitely would recommend Goughs they were very efficient, very helpful and always informed us of what was happening in the chain.
Ms Kathleen Lucas
Thank you very much for doing a great job
Thank you very much for doing a great job as always, would recommend you for sure for being so efficient and getting the job done as quick as possible.
Very helpful. Advice clear with plenty of time for us to consider all the options before making decisions.
Very thorough, and we also got forces discount.
Andy Turner | Managing Director | Princeton Homes
Efficient and extremely knowledgeable
Rebecca is professional, efficient and extremely knowledgeable on all aspects of Construction Law.
Tom O'Connor | Managing Director | Redcliffe Homes
Andrew is an experienced, diligent and pragmatic development lawyer. Highly recommended.
Very professional and prompt
Rowena is very professional and very prompt response every time I needed something.
An excellent commercial lawyer
Gemma combines sound commercial judgement with a refreshing clarity and approach. An excellent commercial lawyer.
Bath Property Awards 2021
Legal & Financial Winner
Goughs prides itself on its first-class service, with growing property marketing reach and increasing areas of expertise. Enquiries also escalated by 20%, a commanding showing this year!
Isabel Figueiredo was professional
Needed for Goughs to act quickly with an issue I had . They exceeded my expectations ! Isabel Figueiredo was professional , and swiftly dealt with the matter. Would strongly recommend these Solicitors.
Video content from site to go here.
Local since 1882, with an excellent reputation
First-class, effective service
Largest solicitors in Wiltshire
Seven offices throughout the county
Nationally accredited law firm
Recognised by Legal 500 and Chambers & Partners
Your trusts & estates team