It's a minefield trying to work it all out, we have one too but it wasn't until dh stopped being a sole trader and setup a company that we formed the trust. As a sole trader your assests are able to be used against you if you go bankrupt, once he setup the company we needed the trust to protect the house etc. We take a salary but any profits are disbursed to us and the kids at the end of the year as the trust can't make any money.

We have to do tax returns for the trust as well as person tax returns.

Not sure if i helped or confused you! We have a solicitor and account who run it all for us.