Recent changes to trust tax has reduced the desirability of such structures, especially where company share ownership is involved.

By creating a trust, you can give assets away but retain flexibility and some control over who will benefit from the income from the trust assets, and ultimately the capital, and when. Giving away assets during your lifetime can also reduce your inheritance tax. Trusts can also be useful if an individual wishes to pass on assets that are likely to grow in value as such growth is kept outside of the individuals’ estate.