Trust & Estates

The area of trust taxation has become increasingly more complex and regulated in Ireland in recent years with the introduction of new reporting obligations for those involved in setting up trusts and new mandatory reporting rules for tax planning, and the strengthening of Irelandís anti-avoidance provisions affecting trusts. At the same time the administration of estates has become more complex as many estates have an international dimension in terms of assets or beneficiaries, bringing foreign tax liabilities into the equation.

O'Hanlon Tax Limited provides a full range of compliance services including consultancy advice on tax issues affecting trusts and estates, advice on reorganising or collapsing existing trust structures which are no longer cost effective, and dealing with anti-avoidance rules for offshore entities. We also advise on the double taxation agreement implications of foreign tax payments, file Irish tax returns, and US federal estate tax returns, and liaise with local professionals in other jurisdictions in regard to foreign taxes.

O'Hanlon Tax Limited has a specialised fiduciary accounts service, providing detailed vouched accounts and returns for trustees and executors who have an obligation to protect the assets of an estate or trust. This involves mapping the asset trail from the initial date of death or settlement assets to the final schedule of assets available for distribution.