Family Businesses Urged To Sign Petition To Abolish 'Family Business Tax'

As part of the ongoing #FamilyBusinessMatters campaign, in light of announcements in the Autumn Budget, Family Business United ('FBU') is calling upon members of the family business community to sign a petition asking the Chancellor to reconsider the changes to Business Relief, also known as Business Property Relief which could have devastating consequences for many family firms.

As Paul Andrews, Founder and CEO of FBU explains, "As champions of the family business sector we know the effort that family business leaders put in to running their businesses, creating a culture of sustainable business practices and looking to the long term making decisions that endure long past their time at the helm for future generations."

"The announced changes will have significant impact for many family businesses across the UK, in all sectors of the economy, as the changes to the rules will jeopardise the transition of ownership between the generations and some businesses may have to resort to a sale in order to meet liabilities that fall due. The unintended consequences for family businesses in all sectors could be significant and our members are rightly concerned about them."

"We need to do all that we can to raise awareness of the importance of family firms to the UK economy in terms of income creation, wealth generated, taxes already paid, communities supported and the long term stewardship view that they take, and at the same time are encouraging them to sign our petition that we hope will make the Chancellor and other decision makers take stock and reverse the decision recently announced."

Family business owners, shareholders, those working within the family business sector and those with concerns about the impact of the announcement are encouraged to sign the petition and help us in our campaign to ask for the 'Family Business Tax' to be reversed.

Add you voice to the campaign by signing the petition here

This is part of our wider campaign to continue to champion and raise awareness of the importance of family firms to the UK economy because #FamilyBusinessMatters