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

The 2024 UK Budget introduces a significant change to inheritance tax (IHT) rules that could reshape financial planning for family business owners. From April 2027, pensions will now be included under IHT assessments, posing new considerations for those aiming to pass on wealth efficiently. For many, pensions have been a key component of inheritance tax planning, but these changes mean it’s time to reassess how retirement savings factor into broader legacy and succession stra

Family Business United has written to the Chancellor of the Exchequer to voice the concern of the family business sector in light of the changes announced in the Autumn Budget following discussions with numerous members and consultation with other members of our community. Further letters were sent to other key figures including Kemi Badenoch MP, the leader of the Opposition. As Paul Andrews, Founder and CEO of Family Business United explains, "As the CEO of Family Business

Perhaps the biggest surprise in the Budget was the extent of the restrictions imposed on two valuable inheritance tax reliefs, being Agricultural Property Relief (APR) and Business Property Relief (BPR). Is this the end of the road for BPR and APR? Accountants from Rickard Luckin share their thoughts. What Changes Were Made To BPR And APR In The Budget? The 'Current Rules' Until 30 October, anyone holding an asset on death, or who had given one away in the seven years before

Chancellor Rachel Reeves has unveiled the much-anticipated Autumn Budget, outlining the government’s plans to address the nation’s financial challenges. As expected, the budget includes several significant changes. Here, we break down the key announcements and what they may mean for your wealth. Major Budget Announcements That May Affect Your Wealth We have outlined four key changes with direct implications for your wealth: Capital Gains Tax Reforms Significant capital gain