Figures suggest families are turning to trusts in growing numbers to mitigate IHT and pass on wealth more efficiently. For IFAs, however, the reality is more nuanced, writes Jemma Hotta
HM Revenue & Customs' latest statistics on trust registrations revealed a rise to 121,000 in the 2024/25 tax year, up from 115,000 the previous year. This has prompted suggestions that families are turning to trusts in growing numbers to mitigate inheritance tax (IHT) and pass on wealth more efficiently. For IFAs, however, the reality is more nuanced. A key driver of the spike is regulatory. Since September 2022, the scope of the UK's Trust Registration Service has widened, bringing many non-taxable trusts into the registration net for the first time. As a result, firms are seeing mor...
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