United Kingdom: Trusts

The UK's trust environment has evolved significantly over the past two decades, with increasingly complex reporting requirements and tax legislation transforming what was once straightforward wealth preservation into a compliance-intensive undertaking. Modern trustees face challenges ranging from HMRC enquiries and beneficiary disputes to mandatory Trust Registration Service declarations and international reporting obligations under CRS and FATCA. Proper administration from the outset can mean the differenc

When a loved one passes away, they will usually own a number of assets such as a property, cash in their bank accounts and their personal effects (such as jewellery or a car).

The draft Finance Bill for 2025-26 was published on 21 July. In this article, we set out the key inheritance tax (IHT) measures in relation to agricultural and business assets included in the bill.