When individuals gift non-cash assets into trust the settlor is making a disposal for capital gains tax purposes and tax may be payable if the assets have grown in value since they were first acquired by the settlor.
There are, however, two exceptions to this; the first is where the assets concerned are business assets and the second is where the gift into trust is one that is a chargeable transfer for inheritance tax purposes (regardless of whether inheritance tax is actually paid or not).
People who are considering creating a trust should seek professional advice to ensure that they do not inadvertently gift assets into trust which triggers a capital gains tax charge.
During the currency of the trust, trustees may sell trust assets and hope to make a profit for the beneficiaries. The sale may produce a profit in which case the trustees may have to pay capital gains tax. When trustees distribute assets such as investments or property to beneficiaries the trustees may have to pay capital gains tax if there has been an increase in value in the assets since the trustees acquired them.
It is very important that trustees seek professional advice before selling trust assets and making distributions to beneficiaries to ensure that capital gains tax can be avoided.
For anything further, one of our specialists would be delighted to meet you either in our office or in your own home to talk through your requirements and answer any questions. Please contact us at any time.
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20 years. Thousands of ideas. Countless improvements to health and care across the North East and North Cumbria.
We`re proud to sponsor the 20th Bright Ideas in Health Awards — a true milestone for a programme that`s shone a light on innovation since 2003.
Got a bright idea? Entries close 11:59pm, Friday 27 November 2026.
🔗 https://brightideasinhealth.org.uk/
#BIHA20
Oct 9
We were proud to sponsor the first ever CBIT`s Got Talent in Sheffield, raising £9,258 for the Child Brain Injury Trust.
Thank you to co-sponsor Maggie Sargent & Associates, the performers, and everyone who came along. Plans are already under way for an encore next yea👏
Read more - https://tinyurl.com/ynbswynf
#CBITsGotTalent #ChildBrainInjuryTrust #Sheffield #Fundraising #BrainInjury #CharityEvent
Oct 9
Think you know your stuff? Join Sintons` Trainees for our Fundraising Quiz Night at Shearer`s Bar, St James` Park on 12th Nov.
Quiz, raffle & games, all in aid of @stoswaldsuk and our Trainee Challenge.
🎟️ £12.50pp or £70 per table of 6.
#SintonsTrainees #QuizNight #Newcastle #StOswaldsHospice
Oct 8
Employment Law E-Bulletin 104 is out:
🔷Individuals can be liable for failure to make reasonable adjustments
🔷Vicarious liability doesn`t transfer under TUPE
🔷Govt response on union rights statement duty
https://tinyurl.com/2v3mc2u7
#EmploymentLaw #HR #TUPE
Oct 8
The Building Safety Levy is now in force for certain residential projects in England, but standard form contracts like JCT D&B 2024 don`t yet deal with it.
Are your contracts ready? Make sure they cover who provides the levy information and who pays.
https://tinyurl.com/2p9pbscv
#BuildingSafetyLevy #Construction #BuildingSafety #ConstructionLaw #Contracts
Oct 7
Join us on 11th November for our seminar: When Trauma Shapes the Narrative – understanding and working with PTSD
We`ll look at how PTSD develops after significant trauma, its impact on rehabilitation in a medico-legal context, and evidence-based treatments including Trauma Focused CBT and EMDR.
Led by Craig Thompson, CBT Therapist at Talking House North East, and Barry Lehane RGN, LLM., Case Manager at Empowering U
📍 Sintons, The Cube, Newcastle
🕓 Arrival 4.00pm | Seminar 4.30pm
Book your place - https://tinyurl.com/zd3tk254
Nicki Waugh hashtag#PTSD hashtag#Trauma hashtag#EMDR hashtag#Newcastle
Oct 7
