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ADMINISTRATION OF CHARITABLE TRUSTS
The trust management team in the Private Capital Group is
responsible for the administration of trusts (including charitable
trusts) and estates.
Building largely from our expertise in advising private clients
on tax planning and trust related issues, the department has,
over the years, established many charitable trusts on behalf
of individuals. Most of these trusts have broad charitable
objectives and the donor and trustees then focus their resources
on particular purposes, which can be anything from conservation
of wildlife in South America to medical research or from founding
an educational fellowship to promotion of the arts –
the range of charitable objectives is almost limitless!
How can we help charity trustees?
There are a number of things we can do to make sure
that everything is done properly. First, typically the management
of private charitable trusts involves making donations to
other charities from income derived usually – although
not exclusively – from stock exchange investments. We
administer trusts worth hundreds of millions of pounds, dealing
with investment advisers on a daily basis. We are therefore
well placed to monitor the investment management of charities
and ensure that regular reports are provided to the Trustees.
We can make sure that income and capital funds are made available
as frequently as they are needed.
Secondly, usually a separate Trust bank account is operated
which receives income and is used to deal with donations and
the administrative expenses of the Trust. Although the Trustees
must make all decisions regarding distribution of charitable
funds, we can help run the bank account or even, in appropriate
cases, act as bankers to the charity. Thirdly, we can act
as the charity’s registered office and filter applications
to the trustees, so that they only need consider those which
fall within their donations policy.
We are also involved in the arrangement of regular trustees’,
or board, meetings as appropriate. We make sure that the trustees
consider all issues relevant for their decision making process
and that this is properly minuted – increasingly important
in these days of tight regulation and compliance (as well
as being helpful if the charity should come under a Charity
Commission investigation).
Finally, the team is also experienced in dealing with the
necessary compliance issues i.e. preparing any Update for
the Charities’ Register, preparing the Charity Commission
Annual Report and the preparation (and filing) of accounts
in accordance with the Statement Of Recommended Practice.
We also deal with the returns required by the Inland Revenue
to obtain tax repayments.
For further information, please contact:
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