Research and analysis

Exploring the use of trusts

Qualitative research with settlors and agents exploring the use of trusts.

• From: HM Revenue & Customs
• Published: 7 November 2018

Documents

Exploring the Use of Trusts

Ref: HMRC Research Report 452

PDF, 1.07 MB, 48 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

A trust is a way of managing assets such as money, investments, land or buildings for other people. The overarching aim of this research was to understand what motivates settlors to use trusts.

The research asked:

1. what are the motivations for setting up a trust and how do motivations differ depending on the type of trust used?
2. what types of trusts are set up?
3. what are the relationships between the settlor, beneficiaries and trustees, and how does this affect decisions about the type of trust set up and how it is managed?
4. how are trusts set up and what costs are associated with this? What are the tax benefits of creating a trust and how does this compare to costs?
5. what impact does the current tax regime have on decisions?

As part of this qualitative research, there were 40 phone and face-to-face interviews with agents who assist settlors with setting up trusts, and 20 with settlors of trusts.

Published 7 November 2018