Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many (a) land and (b) property assets are held through UK trusts registered with the Trust Registration Services; and what the aggregate value is of (i) land and (ii) property assets held via trusts.

Answered by Emma Reynolds - Economic Secretary (HM Treasury)

I can only provide a partial answer to these questions, as the information held on the Trust Registration Service in relation to land and property holdings varies depending on the category of registration. Additionally, the Trust Registration Service does not record information on indirect holdings of land by trustees.

From May 2021 (when the Trust Registration Service was expanded to accept registrations from non-taxable trusts) to 5 April 2024 (the end of the last tax year), c.56,000 trusts notified the Trust Registration Service that the trustees have acquired a direct interest in UK land or property on or after 6 October 2020. Of this figure, c.55,000 are UK resident trusts (including trusts categorised as ‘Type A') and c.1000 are non-UK resident trusts (including trusts categorised as ‘Type B’ or ‘Type C’).

Taxable trusts, including those registered before May 2021, are required to provide a statement of assets held at the time of registration, including UK land or property. However, analysing this information to arrive at a total number and value of land and property assets held by these trusts would carry a disproportionate cost.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many trusts registered with the Trusts Registration Service hold UK land or property via a type (a) A, (b) B and (c) C trust.

Answered by Emma Reynolds - Economic Secretary (HM Treasury)

I can only provide a partial answer to these questions, as the information held on the Trust Registration Service in relation to land and property holdings varies depending on the category of registration. Additionally, the Trust Registration Service does not record information on indirect holdings of land by trustees.

From May 2021 (when the Trust Registration Service was expanded to accept registrations from non-taxable trusts) to 5 April 2024 (the end of the last tax year), c.56,000 trusts notified the Trust Registration Service that the trustees have acquired a direct interest in UK land or property on or after 6 October 2020. Of this figure, c.55,000 are UK resident trusts (including trusts categorised as ‘Type A') and c.1000 are non-UK resident trusts (including trusts categorised as ‘Type B’ or ‘Type C’).

Taxable trusts, including those registered before May 2021, are required to provide a statement of assets held at the time of registration, including UK land or property. However, analysing this information to arrive at a total number and value of land and property assets held by these trusts would carry a disproportionate cost.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many of the trusts registered with the Trusts Registration Service hold UK land or property.

Answered by Emma Reynolds - Economic Secretary (HM Treasury)

I can only provide a partial answer to these questions, as the information held on the Trust Registration Service in relation to land and property holdings varies depending on the category of registration. Additionally, the Trust Registration Service does not record information on indirect holdings of land by trustees.

From May 2021 (when the Trust Registration Service was expanded to accept registrations from non-taxable trusts) to 5 April 2024 (the end of the last tax year), c.56,000 trusts notified the Trust Registration Service that the trustees have acquired a direct interest in UK land or property on or after 6 October 2020. Of this figure, c.55,000 are UK resident trusts (including trusts categorised as ‘Type A') and c.1000 are non-UK resident trusts (including trusts categorised as ‘Type B’ or ‘Type C’).

Taxable trusts, including those registered before May 2021, are required to provide a statement of assets held at the time of registration, including UK land or property. However, analysing this information to arrive at a total number and value of land and property assets held by these trusts would carry a disproportionate cost.

Found: Minehead) Sarah Green (Liberal Democrat; Chesham and Amersham) Sarah Hall (Labour; Warrington South) Lloyd Hatton

Found: Members present: Sir Geoffrey Clifton-Brown (Chair); Mr Clive Betts; Anna Dixon; Sarah Hall; Lloyd Hatton

Found: Minehead) Sarah Green (Liberal Democrat; Chesham and Amersham) Sarah Hall (Labour; Warrington South) Lloyd Hatton

Found: Q24 Lloyd Hatton: That is very helpful.