A relevant property trust is generally a trust whose assets are subject to the inheritance tax relevant property regime, most commonly a discretionary trust. The trust may face inheritance tax charges when assets enter it, at each 10-year anniversary and when assets leave, although the amount depends on the trust’s assets, timing and circumstances. Trustees are normally responsible for reporting and paying any tax due. Some trusts and interests, such as certain trusts for disabled or bereaved children, have different rules, so check GOV.UK or speak to a suitably qualified tax adviser.