Both probably , assuming it's a discretionary trust and the trustees are also the beneficiaries.
Capital gains tax on the sale of the bungalow and exit charges on ending the trust. You should also have been paying ten-yearly charges on the value of the trust at the time.
Get professional advice.

Barclays do not allow non-uk residents as account holders. They may accept the UK resident trustees only as account holders.

Thank you for the response. This is very helpful as the take away is that a trust in itself may not achieve the sought tax efficiencies, but it does offer control and flexibility in the distribution and flow assets to beneficiaries. I also think that some form of advice is needed to bottom out the ...

I suggest you talk to a financial advisor. There are lots of issues involved in what you propose. For example:- 1. It sounds like a Discretionary Trust, if you wish to add beneficiaries in the future, so taxation of income (above the first £1000 p.a. will be high - 38.1% for dividends and 45 % for o...

The Government guidance on trust registration, updated October 2020 says that you do not need to register a bare trust.
https://www.gov.uk/guidance/register-a-trust-as-a-trustee

Thanks, maths, that's what I suspected. I guess HMRC have other things on their mind at the moment, and the long-awaited "simplification" of IHT and Trusts taxation is still a long way off.

If income passes straight to the beneficiaries, the Trust is not taxable (but the beneficiary is). However, this is impossible in the case of dividend income from shares held in an online broker's account, as they will only make payment to the Trust's bank account. This article from 2017 covers HMRC...

If income passes straight to the beneficiaries, the Trust is not taxable (but the beneficiary is). However, this is impossible in the case of dividend income from shares held in an online broker's account, as they will only make payment to the Trust's bank account. This article from 2017 covers HMRC...

Who is "the solicitor". Presumably he was the executor of the will, or perhaps he/she set up the Trust, or both. If not a trustee, as far as I can see (not being a lawyer) you need not have any further involvement with him/her. He/she should have transferred the money to your Trustee bank account. B...