Services - Tax Planning

Few of us think about planning for the day our assets are passed on, but planning for the future can be as simple or as complicated as you want it to be. Maybe you have children you want to be sure are provided for, or a family business or estate that you want to pass on to the next generation. Even if you are just starting out in your career, you might be surprised at the difference planning now can make.

Writing a Will can be the start of good tax planning, but if your assets extend beyond your home and some savings or investments, you could benefit from an extensive review of your personal affairs. This would allow us to identify any assets that are most likely to give rise to a tax liability in the future, and enable you to take action to minimise that liabilty.

In addition, we can look at the way in which your assets are going to be used or extended through your lifetime and identify the most tax-efficient way forward for you. For example, it might be beneficial to put some assets in trust, or to change the way your business is set up to allow further tax savings, or you might be able to give particular items to certain people at a later date without incurring tax. We can make you fully aware of all these factors so that you can plan in the best way for you.

Tax is a complicated, continually changing area. It is important to seek specialist advice to ensure that your assets are protected, exemptions are utilised and tax is minimised. Our expertise covers a broad range of specialist areas including income tax, inheritance tax, capital gains tax and stamp duty land tax.

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Graham Scott Partner

graham.scott@murraybeith.co.uk

Graham is a Partner with more than 20 years experience in estate and tax planning.

Graham’s work involves the provision of advice to individuals and families in relation to succession, trusts, asset protection and offshore matters. He advises on all aspects of private taxation including inheritance tax, capital gains tax and income tax. Graham frequently advises business owners in relation to planning for succession and tax mitigation.

Graham has extensive experience of setting up and administering trusts and is accredited by the Law Society of Scotland as a specialist in Trust law. He frequently advises disappointed beneficiaries in connection with both trusts and executries. He also has a particular interest in dealing with offshore trusts and foreign property.

Areas of work

• Wills
• Trust law
• Powers of Attorney
• Inheritance tax
• Capital gains tax
• Estate planning
• Succession planning
• Offshore trusts

Peter Shand Partner

peter.shand@murraybeith.co.uk

Peter is a Partner and advises private clients on Wills, estate and tax planning, asset protection and charity law.

Before joining Murray Beith Murray, Peter worked as a corporate lawyer and he now advises on succession/wealth planning in the context of trusts, companies, partnerships, and other corporate vehicles. Peter’s expertise also covers inheritance and capital gains tax advice.

Peter is a dual qualified solicitor (Scotland and England/Wales). He is experienced in dealing with cross border issues relating to succession planning and trusts and is a member of the Society of Trust and Estate Practitioners (STEP). He also provides general financial advice and has membership of the Personal Finance Society.

Active in the Arts, Peter is currently a non-executive Director of Magnetic North Theatre Productions. He has experience of advising those involved in the charity sector on governance issues, legal structures and the set up/reorganisation of charities.

Areas of work

• Estate planning (including taxation issues)
• Wills and Powers of Attorney
• Trusts/Companies/Partnerships
• English law
• Charities

Sean Cockburn Senior Tax Manager

sean.cockburn@murraybeith.co.uk

Sean holds Associate status and heads up the Tax Group within the firm. Sean qualified as a Chartered Tax Adviser in 2008 and has recently become a member of the Society of Trust and Estate Practitioners (STEP), having been awarded the STEP Diploma for Scotland at Distinction level.

Responsible primarily for the firm’s tax compliance functions, Sean also advises individuals and trustees on tax and estate planning matters, changing regulations and how best to structure their affairs.

Sean specialises in personal and trust taxation with substantial experience in income, capital and inheritance tax issues, and their interaction through trusts and other estate planning vehicles. His comprehensive knowledge of trust taxation is key to assisting the firm in providing its proactive Trust Administration Service.

Outside of work, Sean is a keen footballer and enjoys playing tennis. He is also an active member of the Chartered Institute of Taxation Scotland Branch Committee, having been the lead organiser of the 2010 Annual Conference.

Areas of work

• Personal taxation
• Tax planning
• Tax compliance
• Trust taxation
• Interaction of taxes
• HMRC compliance checks