Growing numbers of families are turning to trusts as part of inheritance tax planning ahead of expected reforms. HMRC data shows that 121,000 trusts were registered in the 2024/25 tax year, up from 115,000 the year before. With the inheritance tax nil-rate band remaining frozen at £325,000 since 2009, advisers report increased interest in alternative estate planning strategies. Wealth and tax specialists note that recent changes affecting business and agricultural property relief have been a major driver of trust planning among business owners and farming families.
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