Carolyn Byrne

With more than 30 years’ experience, Carolyn specialises in advising clients across a range of tax planning and compliance matters.

Alongside devising solutions to protect and retain family wealth, Carolyn has also overseen the tax affairs of owner-managed businesses.

She also deals with all aspects of tax compliance for individuals, trusts and estates and individuals, including advising on the completion of annual self-assessment tax returns and providing certificates to record income received form trusts or estates.

Carolyn also handles initial registrations with HM Revenue & Customs’ Trust Registration Service (TRS), alongside overseeing any required annual updates or revisions to the TRS record.

She also advises on Capital Gains Tax (CGT) matters (including calculating CGT liabilities, the completion of residential property CGT returns, and liaising with HMRC if any queries are raised regarding a submitted return), and Inheritance Tax (IHT) compliance (including the completion of IHT returns and calculating potential IHT liabilities in relation to estate planning and trusts).

Examples of Carolyn’s work include:

• Completing IHT returns to record the ending of a trust, and providing a calculation of associated potential IHT liabilities.
• Completing a residential property CGT return to report a gain within the 60-day reporting time limit.
• Calculating the amount of an estate that would need to be donated to charity in order to achieve the reduced rate of IHT.
• Advising trustees on the options for winding up a trust and the associated tax implications, preparing the necessary documentation, and preparing associated self-assessment tax returns and IHT returns.