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MarianC
MarianC, Solicitor
Category: Law
Satisfied Customers: 1024
Experience:  20 years experience in Wills and Probates and Trusts
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I am wondering where the best place/best person to go is to

Customer Question

Hi, I am wondering where the best place/best person to go is to get advice on the tax implications of being a trustee on a family trust based in New Zealand, I am resident of both UK and NZ. Is it a tax lawyer or solicitor or other? I just need advice, not representation. Thanks
JA: Where are you? It matters because laws vary by location.
Customer: I am in UK, London So for hmrc
JA: What steps have you taken so far?
Customer: None, I am not the trustee yet, but am looking to become a trustee, but understand this may have implications on tax I pay here
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: So is it a lawyer I should speak with? I think I need to get some more details on the trust first in case they have any questions
Submitted: 24 days ago.
Category: Law
Expert:  MarianC replied 24 days ago.

Good evening, thank you for your question. From a UK point of view, if the Trust is resident in New Zealand then you need to seek advice in New Zealand. If the Trust was resident in the UK then that is a different point of view.

You need an NZ based trust solicitor as the trust will be taxed in NZ.

Kind regards

Marian

Customer: replied 24 days ago.
Great thank you. Also do you know if there are any issues with this in terms of money laundering regulations?
Expert:  MarianC replied 24 days ago.

In that respect I would assume NZ would be the same as the UK, so proof of your ID, as in one photo ID and one proof of address.

Customer: replied 24 days ago.
Great, thank you
Expert:  MarianC replied 23 days ago.

Do you need further assistance?

Customer: replied 23 days ago.
No thank you