Finding the right structure - trusts

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Running Time: 8:16

Date: 01/05/2014

Which is the better structure for your client - a discretionary trust or a unit trust?

Getting your clients’ business structures right can help solve a lot of the other problems they’re likely to encounter – from dealings with their bank and the Tax Office to how they distribute profits, especially if a family business is involved.

Tax expert Michael Jones, of Cummings Flavel McCormack, argues that the best way forward is for your clients to set out their objectives – even though they may well compete with each other – and then apply some basic principles of business.

This month, Michael considers a favourite business structure for many – trusts.