by Mark Thompson | Sep 15, 2023 | Personal injury trust
This information is written for those with bare trusts which hold personal injurycompensation. There are other types of trust for personal injury compensation,which are taxed differently. This solicitor practice only writes bare trusts, so wewill deal only with such...
by Mark Thompson | Sep 7, 2023 | Personal injury trust
No, is the answer, but if you are claiming benefits, your benefits will be reduced until you set up a trust. This question is usually asked by those who have received compensation and were not claiming benefits at that time. Some benefit claimants receive...
by Mark Thompson | Sep 1, 2023 | Personal injury trust
The bank tell me my trustees can have debit cards. More than one personal injury trust client has raised this with me. The bank can tell you how you can operate a bank account, BUT the bank cannot tell you how to operate your trust and keep your benefits. Many people...
by Mark Thompson | Apr 19, 2023 | Personal injury trust
A personal injury trust is no more than an arrangement which holds your compensation separate from your personal funds. Benefits are based on your personal money, the trust keeping the compensation to one side, ignored in the financial assessment for benefits. Once...
by Mark Thompson | Apr 4, 2023 | Personal injury trust
Registration of personal injury trusts with HMRC is not necessary, in most cases. This is certainly the case with a bare trust for personal injury compensation. Most trusts must be registered with HMRC, to satisfy anti- money laundering regulations. “Trusts arising...
by Mark Thompson | Mar 28, 2023 | Personal injury trust
How do I open a personal injury trust bank account, or, I need to open a personal injury trust account, is what callers often say to me. My answer to such questions is, you first need a trust and the trust must then open an account or accounts to hold your...
