A two day hearing is set for this week at the Royal Courts of Justice to challenge the proposed reforms to Inheritance Tax.

Land-owning and farming families often face unique financial and estate planning challenges.

The House of Lords Economic Affairs Committee has published its findings into 'Inheritance Tax Measures: Unused Pension Funds And Agricultural And Business Property Reliefs'

Campaigning results in APR/BPR amendments by Government which is welcome but more needs to be done to support family firms.

The Family Business Research Foundation (FBRF) has published a new research report, Business Property Relief and Family Firms in the UK: From Relief to Reform

Family Business United (FBU) is calling on the UK Government to urgently rethink proposed changes to inheritance tax reliefs in the Budget.

If you're a business owner with significant value tied up in a family trading company, AIM shares, or other Business Property Relief (BPR) qualifying assets, the clock is ticking...

It is a while since we shared an update on the ongoing changes/lobbying activities with regards the changes announced in the last Budget and we have been asked for an update so here we go.  We continue to speak to as many people as possible to share the family business perspective and impact of the changes to inheritance tax rules and in particular APR and BPR but sadly we are not in a position to offer much in the way of positivity at this moment in time.  Sorry. The farming

As the draft legislation for the Finance Bill is laid out, the NFU is urging the government to look at its alternative ‘clawback’ solution to the family farm tax to prevent farmers – the food producers of this country – becoming collateral damage from the planned reforms. The government has outlined plans to hold a technical consultation on the draft legislation, including on inheritance tax, to ensure it ‘works as intended’. This is a common process in the development of a F

For family businesses, passing wealth and control to the next generation can be both a strategic and an emotional journey. However, evolving tax legislation is putting increasing pressure on these transitions especially in light of upcoming changes to Business Property Relief (BPR) and rising tax burdens such as National Insurance increases. These developments are prompting many families to reassess their business structures and succession planning. In this article, we will

A national survey commissioned by UK law firm Brodies LLP has revealed that UK residents aged 50 and over are underprepared for the upcoming changes to inheritance tax (IHT), with only 26% fully understanding how the new rules will impact their wealth transfer plans. The representative YouGov survey of 2,001 adults highlights concerning gaps in estate planning and family communication, raising alarms about the risks of inadequate succession strategies in the wake of the new

The Impact of Proposed Tax Changes Following the government’s costly partial reversal of its welfare reforms, Family Business United urges officials to abandon plans to change inheritance tax relief for family businesses. The organization emphasizes the importance of listening to voices within the family business community to drive the growth agenda. A recent survey by the CBI and Family Business United Kingdom (FBUK) revealed a concerning trend. Proposed cuts to inheritance

Succession planning has always been a difficult topic for many due to the need to confront issues around death and the loss of someone special who has passed. But as the saying goes, ‘there is nothing more certain than death and taxes,’ and the proposed Budget has put the spotlight firmly on family businesses and in particular, Inheritance Tax on the passing of shares from one generation to the next. Ownership succession and the implications are now firmly on the family busin

Business property relief (BPR) - and agricultural property relief (APR), together APR/BPR - were very valuable exemptions from UK inheritance tax (IHT). It was announced in Budget 2024 that BPR/APR will be reformed from 6 April 2026 and the 100% rate of relief for qualifying business and agricultural assets will be available for the first £1m of combined agricultural and business property but will be reduced to 50% thereafter. Laura Cullinane, Private Client & Tax Senior As

Family Business United has been active in challenging the revisions in the Autumn Budget given their impact on the family business sector, especially with regards the changes to Agricultural Property Relief and Business Property Relief. We are keen to continue to amplify the family business voice and to quantify the impact and the challenges the changes are creating. To that end, please share your thoughts in the survey below. Your opinion matters as we need to show those w

The UK Budget 2024 has introduced significant reforms to Agricultural Property Relief (APR) within the Inheritance Tax (IHT) framework, creating major implications for British farmers. APR has long been a vital tool for enabling family farms to pass to the next generation with reduced tax burdens. However, the upcoming changes mean that larger farming estates could face higher IHT liabilities, potentially threatening their financial sustainability. These reforms have already

Are you worried about your family’s financial future? Recent UK Autumn Budget changes have raised concerns for business owners, particularly regarding inheritance tax (IHT). As a business owner, safeguarding your legacy is crucial, and life insurance can be a powerful tool to mitigate IHT. Martin Lindsey, Head of Advice at FBU Partner Brooks Macdonald shares his thoughts. Key Changes In The Autumn Budget Inclusion Of Pensions In Inheritance Tax Calculations Significant cha

A family business is more than work—it's a passion passed down, a shared dream, and a bond that grows stronger with each and every generation, each one seeking to pass the business on to the next generation in a better condition than the one they inherited.  In fact, family businesses are the engine room of the national economy, with around 5 million family firms employing around 14 million people.  They can be found in all corners of the country and in virtually every sector

Data commissioned by the NFU has shown Labour is not trusted by its 2024 voters on issues surrounding the impact of the Budget on farmers. The polling, carried out by Portland this week, shows that changes to inheritance taxation on family farms are unpopular, and that perceptions that Labour does not value rural voters as highly as urban ones are building. The data shows that two thirds (65%) of the public do not think that the Government has fully considered the impact of i

More than 250,000 people have backed the NFU’s campaign to reverse the family farm tax, signalling to the government that the public disagrees with the cruel, ill-thought-out policy. The NFU campaign attracted an increase of 50,000 signatures over just two days in the lead-up to and after the NFU’s mass lobby of MPs in Westminster on 19 November. NFU President Tom Bradshaw said: “I want to send a heartfelt thank you to the public from the whole farming community for backing o