My mum has been living in a psychiatric ward for over a year now and is not well enough to look after her property and finances. I would like to get advice about the tax consequences for her, me and my brother if we put her property into a trust under my own and my brother's names. 

Arthur Weller replies:  

If you can, you may be better off getting a Lasting Power of Attorney; but obtain legal advice on this option. Alternatively, a trust for a vulnerable beneficiary may be what you are looking for. See HMRC’s Trusts, Settlements and Estates Manual at TSEM3400 (tinyurl.com/47kpyvr5). The broad effect of vulnerable person trust treatment is that the income tax and capital gains tax charged on the trustees is the amount that would have been charged had the trust's income and gains accrued directly to the beneficiary.