Can I set up a trust to avoid paying tax?
- No. Trusts cannot be set up with the intention of avoiding income tax.
- Trusts can be established for the purposes of managing your wealth and tax planning.
- Generally it will be up to the courts to establish whether the trust was for legitimate purposes or not.
- If you want to understand more about the mechanisms available for legal wealth management it is advisable to speak to a lawyer with expertise in wealth management and estate planning. You can use our free and anonymous Ask a Lawyer service to get information specific to your situation.
Read some more FAQS from our Equity & Trusts section