Cofunds has launched three trusts on its platform.
They are a bare trust, discretionary gift trust and discretionary loan trust aimed at helping advisers start planning tax solutions based on varying degrees of tax mitigation versus client control of the underlying investments.
They were constructed by Technical Connection and settled by a QC. Cofunds says advisers should also consult legal advisers to ensure the tax trusts are suitable for their clients.
It has launched a series of guides to help advisers use the deeds, as well as a decision tree demonstrating which option is best for particular clients.
Head of proposition Verona Smith says: “We would strongly recommend that advisers consult legal advisers to make sure the draft trusts are suitable for their clients’ circumstances.”
AWD Chase de Vere head of communications Patrick Connolly says: “These platforms are having to offer more flexibility to IFAs. This is a very sensible step for Cofunds as they push to become the platform of choice.”