New figures from HMRC show a decline in the number of trusts making Self Assessment returns but an increase in the total tax paid by these trusts and total income by type of trust.
According to HMRC’s data, in 2018 to 2019, trust and estates had a total income of £2.95 billion, an increase of six percent on the previous year. The total amount of chargeable gains was £3.49 billion, a yearly increase of seven percent.
The tot...
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