Alex Hartley


Trusts and Tax Planning with Xero

A group of people strategizing trusts and tax planning at a table.
Xero Helps You Plan Ahead

Introduction: The Intersection Of Trusts and Tax Planning

Welcome to JacRox, a brand division of Jack Ross Chartered Accountants in Manchester. We are dedicated to offering expert Xero services to a wide variety of clients, from sole traders to large corporations. If you are in need of state-of-the-art cloud accounting software, use the contact form on the right and one of our JacRox team will be in touch to discuss next steps.

Businesses and individuals constantly look for effective ways to manage their finances in the ever-changing taxation landscape. Trusts have long been a cornerstone of estate and tax planning, offering flexibility and asset protection. Coupled with accounting software such as Xero, trust management and tax planning can be streamlined like never before. This comprehensive guide explores how you can use Xero for trust management and tax planning.

Understanding Trusts and Their Role In Tax Planning

What is a trust?

 A trust is a legal entity where assets are held by a trustee for the benefit of others. Trusts can be valuable tools for managing wealth, protecting assets and optimising tax liabilities.

The role of trusts in tax planning

Trusts can be crucial in tax planning strategies such as minimising income tax, capital gains tax and inheritance tax. They can also be crucial in estate planning, which involves the distribution of assets to future generations.

How Xero Can Help With Trust and Tax Management

Xero for trust accounting

Xero’s cloud-based accounting software allows trusts to manage their accounting needs efficiently. This gives trustees real-time access to the financial information they need to make informed decisions.

Xero for tax planning

Xero offers features that can help both businesses and individuals with tax planning. It allows you to automate the tax compliance process, saving time and ensuring accuracy.

Capital gains tax planning with Xero

Capital gains tax planning is a critical aspect that trusts often have to deal with. Xero can help with the reporting and managing of assets subject to capital gains tax.

The Jack Ross Team has been an absolute delight. Professional, nice and fast during the Audit procedure. Thank you Jack Ross Team.

Very good service from the Jack Ross Team. They gave us good advice and completed a very efficient audit. They have a friendly and competent team. I would surely recommend them.

Brilliant service from the Jack Ross team in setting up several companies in very quick time, along with providing associated accountancy advice. Can recommend wholeheartedly as a leading accountancy practice with a can-do attitude.

Dan Gazzard 25/02/2022

First class service for many years from a first class team. Highly recommended. Prompt, commercially aware, personable.

Been using Jack Ross for a number of years. Good clear advice and nice people to do business with.

Jack Ross is based in Manchester and provides tax planning and Xero accounts. They are a long-standing and well-regarded firm with an excellent reputation. They provide their clients with exceptional service and a wealth of advice. I have no hesitation in using their professional services.

aj shelton 22/12/2021

Jack Ross has been my accountants since I set up my business in 2016. From the outset I was helped with advice, support and encouragement. I cannot commend them highly enough. Always on hand to answer any question and responsive to any changes in the economy which might concern their clients. I don’t have to worry about the financial side of my business as all of that is taken care of and dealt with by Umar and the brilliant team. If you are looking for a top class accountancy firm which maintains the personal touch they are for you!

I would recommend this account, knowledgable and helpful

syra bano 16/11/2019

I can confidently recommend Jack Ross Accountants. They are continually improving their service, greatly benefiting our company as well as me personally. The team at Jack Ross have helped suggest and set up innovative accounting software, adding training and support. This alone has been a massive step towards having more control and understanding of our company finances.

J 13/08/2018

We have enjoyed a solid and constructive relationship with JackRoss and Can highly recommend them for accountancy services.

We have been working with Jack Ross for over two years and the service has been fantastic. They have a great and knowledgable team who have taken good care of us and our accounts.

Meeting to review annual accounts and discuss future plans. Very productive as they definitely talk my language - on reflection probably the best such meeting in recent years. Many thanks Umar and Jamie

Jack Ross has serviced my Personal Tax requirements for the last 5 years. During some complicated challenges their advice was excellent and the customer service second to none and left me with no doubt all was in hand.

Following a recommendation, I have used Jack Ross for all my accounting needs (including payroll) since the inception of my business over 12 years ago. The relationship has been completely hassle free and I greatly value their service, which goes well beyond preparation of accounts. Their tax planning advice has been really helpful and I have always felt that they have ‘got my back’. Can’t recommend them enough.

We have finally found the Accountancy firm that we have been looking for! We switched over to Jack Ross towards the end of last year and from the very first contact to the recent submission of our end of year accounts the service provided has been fantastic and has easily exceeded our expectations. Thank you!

oliver kirk 22/03/2018

Excellent service; very helpful people and work done much quicker than I expected.

Paul Clark 29/09/2017

I have used Jack Ross as my accountants for a number of years. Their service is professional and accurate. They deal with queries promptly and I can always get hold of the person I need to speak to. Their digital product has made a big difference to the efficiency of my business. I would not hesitate to recommend them.

Benjamin 22/02/2017

Jack Ross have been my family and business accountants and financial advisors for over 50 years. The delivery of services is second to none and i would recommend them to anyone. We have also built up great friendships over the years, above and beyond that of a normal business relationship which i value greatly.

Rob Cowan 22/02/2017

We have been looked after by jack Ross for a number of years. They have given us fantastic tax advise and helped our company grow from strength to strength. A & f

Fee Munshi 16/02/2017

Excellent advice and an understandable explanation of a very complex area of tax and corporate law which other (so called) advisors managed to totally confuse me. Thank you.

I have had a relationship with Jack Ross for several years and continue to be impressed by the proactive support and diligent advice received across the breadth of the firm. Excellent at signposting.

Holly Jones 14/02/2017

Jack Ross have acted for our law company for over 5 years and have been professional, prompt, and knowledgable in all aspects of our dealing with them.

Income Tax Planning For Trusts With Xero

Dividend and share management

 Xero has robust reporting features that can help trusts manage dividends and shareholdings. This is particularly useful for trusts that hold shares in companies.

Automate income tax calculations

Xero can automate the calculations needed for income tax planning, making the process more efficient and accurate.

Estate Planning and Inheritance Tax

Trusts are often used in estate planning to minimise inheritance tax. Xero can be used to outline and prepare for these aspects, ensuring that assets are passed on to future generations in the most tax-efficient way.

Online Accounting and Its Benefits For Trust Management

Xero Online Accounting: An Overview

Accessible anytime, anywhere, Xero online accounting provides the flexibility trusts often need for their complex, day-to-day management tasks.

Reconciliation and Transactions

Xero online accounting software enables quick reconciliation of bank transactions, allowing trusts to take control of their financial management.

Use Xero’s Features For Your Industry

Construction Industry

Trusts operating in the construction industry can benefit from Xero’s tailored features, such as HMRC investigations and compliance.

Other Sectors

Xero is suitable for trusts operating in various sectors, with industry-specific features that can be tailored to your needs.

The Role Of Accountants and Advisers In Trust Management

Accountants and Xero

Chartered accountants, who are also Xero accountants, can provide invaluable tax advice and strategies for trusts. Their expertise can guide you through the complexities of tax planning and compliance.

Tax Planning Consultants

Accountants can help you maximise Xero’s features, especially in complex tax planning scenarios.

Summary and Conclusion: Why Choose Xero For Trusts and Tax Planning?

Save time and gain peace of mind.

Xero allows you to automate many of the processes involved in trust management and tax planning, giving you more time to focus on other essential aspects of your trust.

Future-proof your trust for generations to come

With its robust features and cloud-based architecture, Xero is ready to meet the needs of trusts now and for future generations.

The Bottom Line

Trusts have been, and will continue to be, an essential part of tax planning for businesses and individuals. The introduction of cloud-based accounting software, such as Xero, has revolutionised how trusts can manage their accounting and tax planning. Whether you are a trustee, accountant or tax adviser, Xero has something to offer to streamline your trust management and tax planning activities.

In a world where financial compliance and tax laws constantly change, Xero provides a stable, secure and efficient platform for trust management and tax planning. It is an invaluable tool for anyone looking to optimise their financial strategies and protect their assets for years.

Alex Hartley
A smiling woman sitting at a table with a laptop.
Call back form

Speak to a Xero Expert Today!

Take advantage of harnessing the full potential of Xero for your business. Whether you're a start-up, a thriving SME, or a larger enterprise, our Xero-certified accountants are ready to guide you through every step. Please fill out the form below, and let's begin your financial transformation.

Request a Call Back Now to get access to Xero experts 

Trusts and Tax Planning with Xero is an accounting software solution that helps you manage your taxes, protect yourself from HMRC investigations, save time on preparing your taxes, and plan for future generations.

Yes! The app offers complete flexibility when creating trust structures or estate plans. It has templates for structuring investments, such as savings or dividends, and options for reviewing cash flow movements based on contributions from family members. You can also use its retirement savings calculator to estimate how much money will be saved using different methods. Xero is an accounting software solution that helps you manage your taxes, protect yourself from HMRC investigations, save time on tax preparation and plan for future generations.

Xero helps small businesses with their tax planning by providing a tax planning template, online reporting and integrated payroll functionality. It also provides business advisors with tools to help them take advantage of savings such as R&D tax credits, flexible account management and cloud-based collaboration.


We were instantly impressed with their approach to accountancy

Mark Moppet | Managing Director

JacRox is transformational, saving us hours a week in mundane tasks, making life easier.

Duncan Ogilvie | Managing Director

On every occasion we’ve sent an enquiry they’ve been straight back to us with an answer

Paul Mulderrig | Managing Director

Providing an
outstanding client

Xero businesses we’ve helped achieve great things

Call back form

Speak to a Xero Expert Today!

Take advantage of harnessing the full potential of Xero for your business. Whether you're a start-up, a thriving SME, or a larger enterprise, our Xero-certified accountants are ready to guide you through every step. Please fill out the form below, and let's begin your financial transformation.

Request a Call Back Now to get access to Xero experts 

Get a Personal Consultation


Jack Ross Chartered Accountants, Barnfield House, The Approach, Manchester, M3 7BX

Open Hours

Monday-Friday 8:30 am - 5 pm

Latest News