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The trust registration service (TRS) had 733 000 trusts and estates registered up to 31 March 2024 and that remain open as of 14 August 2024 according to HMRC statistics.
The figures show there were 115 000 new registrations between 1 April 2023 and 31 March 2024.
The total number of trusts and estates that have made self-assessment returns has risen slightly by 0.3% in 2022-23 with interest in possession trusts increased by around 6%. However HMRC notes that the increase comes after a long-term downward trend across all the main types of trust with the total number of trusts and estates submitting returns reducing by 9% since 2016-17.
The total income of all trusts and estates was £3 115m which is a fall of about 2% from £3 185m in 2021-22. The total chargeable gains was £3 740m a...
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