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The trust registration service (TRS) had 633 000 trusts and estates registered up to 31 March 2023 and that remain open on 31 August 2023 according to HMRC statistics.
About three-quarters of registered and open trusts and estates were registered in the period between 1 April 2022 and 31 March 2023 when there were 462 000 new registrations.
The number of trusts and estates that made self-assessment returns fell reducing by 3% in 2021-22 in comparison to the previous year. HMRC says this continues the long-term downward trend with the total number of trusts and estates submitting self-assessment returns reducing by 12% since 2016-17 when 161 000 trusts and estates submitted returns. This number has fallen to 141 500 in 2021-22.
The total income of trusts and estates in 2021-22 was £3 075m moving above pre-pandemic highs where income was £3 050m...
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