Sara Spencer Revenue

About Sara Spencer

I assist individuals and other professional firms to meet their Trust and Estate accounting and tax obligations, and also in the general running of their trusts. Trusts are set up for a purpose, usually to protect assets and beneficiaries. That purpose can evolve over time, and can come to a natural end, often before the trust would otherwise have ended. I think it is important to recognise this, and to look at trusts holistically. As well as preparing the annual trust accounts and tax returns, I advise on making tax efficient distributions to beneficiaries and on the winding up of the trust where appropriate. I can also prepare the inheritance tax returns required over the life of the trust. These may be required where capital distributions are made to beneficiaries; on ten year anniversaries; and on the winding up or natural ending of the trust. For other aspects of running your trust, I can introduce you to specialists for advice on trust investments, property transactions, and other legal matters. Our work on estates is undertaken for other solicitors rather than individual personal representatives. I do not undertake probate work. I have specialist accounting software to prepare your estate accounts accurately and efficiently. I also deal with the income and capital gains tax reporting requirements for the administration period of the estate, including registering on HMRC's online portal if required. Having your trust or estate accounts and tax returns up to date reduces the risk of you making over distributions to beneficiaries, and of tax related interest and penalties, both of which can be irrecoverable. It also means that you have the information to be able to run your trust as tax efficiently as possible, which means more funds are available for the beneficiaries.

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