The total number of trusts making Self Assessment (SA) returns has continued to decline, reducing by six percent in the 2019-20 tax year, according to official UK government statistics.

This decline continues the established trend across all the main types of trust, with the number of interest in possession trusts halving since the 2003-04 tax year.

However, the total income of trusts and estates remains largely stable.

The total income stood at £2.98 billion this year, almost equal to the £3.01 billion of chargeable gains recorded in the previous year.

Total income is broadly stable when compared ...