It's not just family farms that have been destroyed by the Budget's Inheritance Tax changes and as the fallout from the Autumn Budget continues, a new event taking place at The Palladium in Central London will bring members from the wider family business community together to raise awareness of the challenges facing family businesses and the need for consultation and revision to make sure that growth can be delivered in all sectors of the community. Olly Harrison, one of the farmers behind the massive demonstration and rally in Whitehall in November, is part of the team behind this new event, adds; “Farmers have had a loud voice since the announcements in the Budget associated with Inheritance Tax and APR but BPR is also a significant issue, not just for farmers but family businesses across the nation. Many of them multi-generational and it affects them all. Now is the time for the collective family business voice to be heard.” The BPR Summit - December 16 (12-3pm) The London Palladium, Argyll Street, London “We wanted to build on the momentum from the rally and provide a forum for the wider community to come together and amplify the voice of family businesses across the UK.” Paul Andrews, Founder and CEO of Family Business United, an organisation that champions family businesses continues: “Family businesses, like many of the family farming community, see themselves as custodians or stewards of their family business for generations to come, constantly investing in their businesses and innovating to provide more jobs and sustainable businesses.” “Family businesses make a massive impact on the communities in which they operate, generating income, providing jobs and creating wealth, much of which is reinvested locally. They already make significant contributions to the Exchequer in terms of taxation annually. They also contribute substantially to the fabric of the local community, clearing roads, supporting charities and sponsoring grass roots sports teams amongst other things. The changes being proposed are likely to have serious consequences with capital investment plans being shelved, support of the community cut back and for some the ultimate outcome may be the sale of part, or all, of the business.” “Far from generating additional revenues the long-term impact will be less investment, less jobs and reduced growth, and we strongly suggest that the Government consult and work with the family business community to develop a cohesive plan to ensure the survival of family businesses. It is in the interest of everyone for family businesses to grow and flourish for generations to come and in doing so support the agenda for economic recovery at the same time,” concludes Paul. A full programme of speakers will take to the stage at the London Palladium on December 16 to share their thoughts around the challenges and the way forward. These include Victorian Vyvyan (Country Land & Business Association), Kate Nicholls (UK Hospitality), Tim Farron MP and numerous representatives from the business community with Kemi Badenoch MP and Leader of the Opposition delivering the closing keynote. As Olly concludes, “We are delighted to be using the platform that we have created to shout about the challenges being faced by all family businesses. We want the Government to listen and really understand the economic implications of the decisions, as well as the emotional effects that are causing a great deal of distress for many. We want to find a solution that helps achieve the growth agenda but one that helps families in business continue to do what they do best, farm as they have for generations and build multi-generational family businesses that are sustainable for generations to come.” “It promises to be a powerful event in our ongoing efforts to influence government policy and make sure the true effect of these proposed polices are understood so as not to stifle the growth of businesses and protect the future of our industries” Book your complimentary tickets to join the event at the London Palladium on Monday December 16 from 12 noon until 3pm here

The holiday table is a space for joy and connection, not a boardroom. Mixing business with family time can quickly sour the mood, especially if not everyone is involved or interested in the discussion. Whether it’s a disagreement over work-related issues or simply the unintended stress that business talk brings, it’s best to keep professional matters aside during festive gatherings. Set a clear boundary by politely steering conversations away from work and toward more inclusive topics, such as shared memories, hobbies, or plans for the upcoming year. This ensures that the focus remains on bonding and celebrating, rather than on office politics or professional challenges. The festive season is a time for celebration, love, and togetherness. However, the pressures of planning, heightened expectations, and bringing together different personalities can turn even the most joyous occasions into a minefield of potential conflict. To help navigate the season with grace and goodwill, here are some strategies for maintaining family harmony while making cherished memories. 1. Set Realistic Expectations Holidays often come with high expectations of picture-perfect moments. Social media can amplify the pressure to have everything from the meal to the decorations to family interactions go flawlessly. Instead of striving for perfection, focus on creating meaningful experiences. Encourage everyone in the family to share what the season means to them and what traditions matter most. By managing expectations early, you can avoid disappointment and foster a shared vision for the celebrations. 2. Share The Load One person taking on the burden of hosting, cooking, or organizing can quickly lead to burnout and resentment. Divide responsibilities among family members. Whether it’s assigning dishes for a potluck-style meal, delegating decoration duties, or rotating hosting duties each year, sharing the load ensures that no one feels overwhelmed. If family members live far apart, discuss how everyone can contribute financially or logistically to avoid placing too much strain on one household. 3. Embrace Differences Every family is made up of unique individuals with varying opinions, traditions, and lifestyles. The festive season is an opportunity to celebrate those differences rather than letting them divide. Practice active listening during conversations and avoid sensitive topics if they have caused tension in the past. Set boundaries where needed, such as agreeing to avoid heated political debates during dinner. It’s okay to gently steer conversations back to neutral or positive territory. 4. Create Space For Alone Time Spending extended periods with family, especially in close quarters, can be overwhelming. Recognise that everyone needs a little time to recharge. Encourage family members to take breaks or go for walks to maintain their emotional balance. For those hosting overnight guests, ensure there are quiet spaces available where people can retreat. A little solitude can work wonders in keeping the mood light and positive. 5. Focus On Gratitude And Forgiveness The festive season is an ideal time to focus on gratitude. Encourage everyone to share what they are thankful for during the celebration, whether it’s through a toast, a round of shared reflections, or a gratitude jar. If past grievances exist, use the opportunity to extend forgiveness and rebuild bridges. While some wounds may take time to heal, showing goodwill during the holidays can be a step toward resolving lingering tensions. 6. Plan Activities To Bond Rather than leaving interactions to chance, plan engaging activities that foster connection. Board games, decorating cookies, or taking a group walk to see holiday lights can help bring the family together and create shared memories. For families with younger children, hands-on activities like crafts or storytelling can keep the energy positive and inclusive. 7. Respect Traditions (And Make New Ones) Honouring cherished family traditions can be a source of comfort and connection. At the same time, it’s important to recognise that families evolve over time. Be open to incorporating new traditions, especially as younger generations or new family members bring fresh ideas to the table. Finding a balance between preserving the old and welcoming the new can keep the celebrations meaningful for everyone. 8. Practice Self-Care Don’t forget to take care of yourself during this busy season. Whether it’s setting aside time for exercise, enjoying a quiet moment with a cup of tea, or simply saying no to an additional commitment, self-care is crucial. A well-rested and centred host or family member will have more patience and energy to contribute to a harmonious gathering. As Nick Mayhew, Founder and Managing Director of Alembic Strategy, an organisation of relational and transformational advisors who put people at the heart of change adds; "Business life is full of drama, and the ups and downs have an emotional pull. In family businesses this tends to spill over to home. Even if you don't intend it, and the conversations are interesting, to family members it can seem like the kitchen is the office, and the dining room is the board room. Let the focus be on each other and when you lock the office, put HR and Finance away too." "Joyful and playful times together as a family can act as a real buffer to the inevitable stresses and strains that relationships in family businesses go through, so it is really good practice to intentionally keep business out of the house at this time of year and focus fully on each other for a few days." "A really good way to keep the family business from chilling the gravy, drying the turkey and souring the wine, is to put some time in the diary soon after the festive break where you will talk about any pressing issues. Knowing a specific time is booked can really help some people let go of it all mentally for a few days and take that much needed break to recover and be fully present to each other." At its core, the festive season is about connection and love. By focusing on open communication, mutual respect, and shared experiences, families can create a joyful environment that everyone will treasure. The holidays may not always be perfect, but with patience, understanding, and a little planning, they can be a time of warmth, laughter, and cherished memories.

Over half (57%) of UK adults don’t have a will in place, including a third (32%) of over-55s, reveals new independent research conducted on behalf of Handelsbanken Wealth & Asset Management, highlighting a critical gap in estate planning across the nation. Handelsbanken Wealth & Asset Management’s study shows that this figure rises to four out of five (79%) of 18-34 year-olds, putting families at risk of undue stress, potential legal disputes, and unintended inheritance and guardianship outcomes, should someone die intestate. A lack of knowledge around how to put a will in place was cited as the main driver for people not having one – selected by 11% of respondents – followed by concerns around the expense involved (10%), and the thought of it causing too much emotional discomfort (6%). The research also suggests a level of unease around discussing wills with their family – another potential hindrance. Just over half of Brits feel comfortable talking about their will with their partner (55%) and children (50%), with far fewer feeling able to broach the subject with their parents (17%) or siblings (20%). Christine Ross, Head of Private Office (North) and Client Director at Handelsbanken Wealth & Asset Management, comments: “While these conversations can sometimes be very difficult to have, avoiding the topic won’t make it go away. Putting a will in place can help you protect both your assets and your loved ones during a difficult time. Having an open and frank dialogue can give your family much-needed peace of mind that the right plans are being put in place." “There are plenty of avenues people can explore for getting started. As with most areas of life, taking good, professional advice is usually a good place to begin, but there are also reputable public resources such as the government’s “Making a will” page. Whatever your approach, the outcome should be a will that best suits your needs and situation.” The study reveals that for those who do have a will in place, the primary reason is to have control over who should receive specific assets. This was selected by over a third (36%) of respondents, followed by a desire to minimise familial disputes (25%) and life changes such as a marriage, divorce, or birth of child, prompting them to (22%). “While it’s encouraging to see that major milestones and events are triggering people to put a will in place, it’s equally important to remember that wills should be regularly be reviewed as well, to ensure they remain both relevant and legally sound”, adds Christine Ross. “Our research shows that over half of UK adults (53%) have no set plan to do so, and this could make them vulnerable to changing tax laws and inheritance regulations, as well as shifting family dynamics, to name just a few.”

A new white paper from UKWA CEO Clare Bottle offers fresh insights into future innovations and likely trends ahead for the warehousing sector, highlighting the potential changes in store that warehousing businesses should be preparing for right now. The thought-leadership white paper, ‘The Warehouse of the Future: Predictions from 2025 to 2050’, draws on conversations with the many people Clare met and spoke to over the course of UKWA’s 2024 Year of Warehousing, and the cutting-edge technology she has already seen in practice on her 80-visit tour of UK’s warehouses. Clare’s key predictions, based on what she’s seen and learned, include more sustainable design and functionality, driven by economic, technological, and environmental factors, where warehouses of the future are optimised for sustainability, aesthetics and long-term productivity. An increasingly decentralised ‘green economy’, accompanied by shifting land values, which will influence the clustering and co-location of warehousing and supporting infrastructure, with larger, taller, and more versatile buildings that maximise space and incorporate renewable energy sources, such as rooftop solar panels. Challenges to traditional logistics models as consumer landscape evolves, with rising demands and changing preferences, requiring warehouses to become more efficient in managing inventory and supporting circular economies. Artificial Intelligence (AI) is already acknowledged as the most powerful technology evolving this century. Clare predicts that as automation becomes more prevalent, warehouses will leverage artificial intelligence (AI) and robotics to improve safety and efficiency, reducing labour costs, reshaping the design of warehouse spaces and the role of human labour. The adoption of AI and digital platforms will streamline operations, she suggests, offering new opportunities for integrating complex systems while improving transparency and security. However, Clare warns that these advancements will also bring new challenges, such as heightened cybersecurity risks and the need to upskill the workforce. Clare concludes, “Ultimately, the success of this transition for warehousing will depend on how well stakeholders collaborate to create resilient spaces that meet the evolving demands of a rapidly changing world." "In publishing this white paper, I hope to share knowledge accumulated over the course of my 80 warehouse visits, to stimulate further discussion and inform effective future planning for businesses in the warehousing sector.” To gain more detailed insights into the warehouse of the future, the white paper can be download from the UKWA website here

In Collaboration with AXIOM Sustainability Family Business United is delighted to launch a free carbon emissions calculator for the family business community with the aim to help family businesses continue to lead the way in sustainability. Joe Oughtred, co-founder of AXIOM and sixth-generation member of the William Jackson Food Group, explains: "Being part of a 6th generation family business, I’ve seen first-hand how family business values align with sustainability. Supporting family businesses in their sustainability efforts is so important to me. That’s why we collaborated with FBU to create this free tool. We are here to assist businesses of all sizes in making informed decisions about sustainability and ESG, whether it's reducing emissions, achieving Net Zero, or fostering a more equitable workplace." "Family businesses have a unique role in leading sustainable practices. Unlike corporations focused on short-term results, family businesses take a generational view, aiming to protect and grow their legacy for future generations. This long-term perspective is what sets family businesses apart." AXIOM are dedicated to supporting the family business sector in achieving their sustainability goals. This new free tool is user-friendly and serves as an excellent starting point for those beginning their sustainability journey, providing a comprehensive carbon report. Joe adds, “ I’m on a mission to support the family business sector to deliver on their sustainability objectives. No matter where your family business is on its sustainability journey, if you need support please reach out. We're all on the same journey, and although it might sound cliché, by working together, we can make a difference and change tomorrow” AXIOM is a powerful cloud-based platform for measuring, tracking and reporting the sustainability and wider ESG performance of organisations – backed up by an experienced team of sustainability and procurement specialists with a passion for saving the planet. Using the calculator will take a matter of minutes, but before you get started, you'll need the following. Annual Utility Usage including Electricity and Gas in kWh, and Water in m³ Annual Waste Information including General Waste and Recycling in tonnes. Annual Business Travel including Road, Rail and Air in miles. By the end, you'll have a clear picture of your carbon footprint and receive personalised tips on how to reduce it. As Paul Andrews, Founder and CEO of Family Business United adds, "We are delighted to be able to provide this simple too to our community as a way for them to develop their understanding of their carbon footprint and it's measurement and to use the information positively to minimise their impact on the planet." "Many family firms have already done so much in this area, with some of them pioneering efforts on a global level and as more regulation and reporting requirements come into force, family firms in all sectors and different sizes will need to take the necessary steps for compliance." "Starting out with records of energy consumption, water use, waste and travel miles the tool is quick and easy to use and provides a simple summary of carbon use that can be downloaded and printed in a matter of minutes." "It is a great way to start to build awareness and the summary provided can be used to start conversations for those that have yet to have them around their own sustainability agenda." "With the expertise and understanding of the continuing evolution of the sustainability environment and all the complexities that continue to be highlighted, we are delighted to be partnering with an organisation that understands the sector but that also appreciates and recognises the needs of the family business sector too."

Gen Z is significantly more likely to pay a premium for brands that aim for sustainability and inclusivity compared to older generations, finds a new research paper by Vlerick Business School. Interestingly, Gen Z is also observed to be more willing to pay for exclusive, on-trend brands compared to older generations. This indicates a unique consumer profile that values both ethical practices and exclusivity. The research was undertaken by Frank Goedertier, Professor of Marketing at Vlerick Business School, alongside Bert Weijters Professor of Consumer Research and Psychology at Ghent University and Joeri Van den Bergh, Co-founder of Human8 and Adjunct Professor at Vlerick Business School. It examines consumer willingness to pay for sustainable, inclusive brands across various demographics and countries. The study analysed responses from 24,798 individuals across 20 countries and Hong Kong, focusing on the willingness to pay for two types of brands: brands that aim for sustainability and inclusivity and brands that are positioned as exclusive and on-trend. In contrast, Gen X and Baby Boomers exhibit significantly lower willingness to pay for both brand types. The researchers also found that women demonstrated a higher willingness to pay for inclusive, sustainable brands but a lower willingness to pay for exclusive, on-trend brands compared to men. “Traditionally, many companies have invested in creating brands that are perceived as ‘exclusive’ or trendy, luxurious, high-status. A core motivation for this is that there is the conviction that such brands trigger a high willingness to pay a premium. We wanted to find out whether positioning a brand around ‘inclusivity’ and a commitment to be sustainable and contribute positively to society, could nowadays also trigger such a consumer willingness to pay a premium, especially when targeting new generation Gen Z consumers,” says Professor Goedertier. “Our findings can help businesses and marketers optimise their brand positioning strategies,” continues Professor Goedertier. “For companies aiming to attract the Gen Z market, the traditional focus on exclusivity alone may not suffice for engaging Gen Z consumers, who are also drawn to brands that make a positive impact and promote inclusivity across various demographics. Similarly, companies with a large female consumer base may benefit from emphasising more sustainability and ethical practices in their branding strategies” Additionally, shoppers in South Korea and Singapore showed the highest willingness to pay for brands that aim for sustainability and inclusivity, finds new research from Vlerick Business School. The researchers also found that China, South Africa, and Thailand had the highest willingness to pay for exclusive, on-trend brands. Meanwhile, people from European countries like Belgium, Germany, The Netherlands, Sweden and the United Kingdom are the least willing in the world to pay for more sustainable and inclusive brands. Overall, the research indicates diverse preferences for inclusivity, sustainability, exclusivity, and trendiness across geography and generations, that business and marketing professionals should be aware of when approaching these consumer bases.

Family run Celebration Packaging has launched a new range of EnviroWare® double-wall paper hot drink cups featuring festive green and red designs. “New for Christmas 2024, these new designs are perfect for serving up festive takeaway hot drinks,” says Celebration Packaging Managing Director Nick Burton. “Customers can choose from classic Holly Green and vibrant Santa Claus Red colours with white Christmas icons.” Delivering superior insulation and hand comfort, the cups are available in popular 8oz and 12oz sizes, with optional CPLA and bagasse sipper domed lids. Made from FSC® (Forest Stewardship Council® C113967) certified paper, the double wall cups are lined with a PLA plant starch moisture barrier. They are commercially compostable (DIN EN 13432:2000-12) and certified recyclable in standard paper mills. “These new Christmas cups are launched under our EnviroWare® brand, so it’s no surprise that alongside the fun festive design, they also score high for sustainability,” says Nick Burton. “When we created the EnviroWare® brand, over 17 years ago, our declared mission was to seek out more sustainable packaging solutions. We have always believed that when sourcing sustainable packaging, the provenance of the raw materials is paramount – but ensuring that it can be properly disposed of at its end-of-life is equally important. “Celebration Packaging has always invested in accreditations and certifications which we take very seriously, so that when we make environmental and sustainability claims, we can always back them up. This sets us apart from many of our competitors, while also giving our customers confidence to help them on their sustainability journey." “Through certification by respected and established companies, we can confirm that the products we sell are: suitable for direct contact with food and drink; made from sustainable resources where applicable; suitable for recycling and/or can be composted either industrially or at home." “Hot drinks are takeaway best-sellers during the winter, so adding some festive cheer, while at the same time making a sustainable choice, is really heart-warming,” concludes Nick Burton.

UK-based Spinks, a leading supplier of high-quality, innovative pocket springs and components to the mattress and furniture industry, has entered into a licence agreement with Poland-based spring manufacturer Nestor Springs, to introduce cutting-edge QuadCoil® technology to the Polish market. Spinks, which holds worldwide rights* to the patented QuadCoil® spring technology after partnering with US-based Texas Pocket Springs, has now granted Nestor Springs exclusive use of this innovative spring system in Poland, as well as collaborative rights in the rest of Europe. The QuadCoil® system is entirely glue-free, constructed using just two materials – steel and pocket cloth – ensuring it is fully recyclable at the end of its life. Its glue-free, quad design enhances flexibility, independence, and comfort, delivering a superior sleep experience. Protected by European and international patents, the spring unit is renowned for its exceptional stability and performance as a core component, and is widely regarded as one of the best pocket spring systems on the market. Darren Marcangelo, Managing Director at Spinks Ltd, said: “We’re thrilled to be working with Nestor Springs, which will bring our QuadCoil® technology to a new market." “Their team has built a fantastic business, and this is a great opportunity for our patented technology to reach consumers in Poland and drive growth across the region." Spinks’ focus on innovation, superior quality, and sustainability has driven its success in the global marketplace, last year earning the business a prestigious King’s Award for Enterprise in International Trade.

Johnsons Nurseries Ltd is proud to announce the successful completion of its latest Plant Health Training Course, an initiative aimed at enhancing biosecurity and equipping staff with the skills to identify and manage pests and diseases effectively as well as maintaining its Plant Healthy Certification. The training sessions, led by Johnsons Technical Manager Tom Watkins, ran from September to December and focused on equipping staff who work directly with plants with the skills to identify, understand, and manage potential threats to plant health. Covering essential topics such as recognizing early signs of pests and diseases, understanding the implications of notifiable pests, and implementing effective reporting and prevention measures, the course was both comprehensive and practical. It also strengthened the company’s ability to maintain its Plant Healthy Certification and safeguard the broader industry. Reflecting on the program, Technical Manager Tom Watkins shared: "It was a pleasure to conduct the training this year. Seeing participants, even those with prior experience, enhance their knowledge and grow more confident in identifying and discussing plant health issues was incredibly rewarding. Their contributions during the sessions added real value, and I’ve already seen positive outcomes, with staff flagging issues on-site. This proactive approach is vital for promoting good biosecurity across the business." A total of 12 staff members successfully completed the course and celebrated with a certificate presentation by Group Managing Director Graham Richardson, alongside hot drinks and biscuits in recognition of their hard work and dedication. As a Plant Healthy Certified business, Johnsons Nurseries Ltd upholds the highest standards in biosecurity. These recently completed training sessions form a key part of that commitment, ensuring staff are equipped to identify, understand, and report potential plant health issues. This proactive approach minimizes the risk of introducing or spreading harmful pests and diseases, a responsibility Johnsons takes seriously. Johnsons Group Managing Director Graham Richardson added: "By investing in such training, Johnsons reinforces its dedication to producing healthy plants and maintaining its reputation for quality, care, and leadership within the horticultural industry. This effort is vital not only for our business but also for supporting the broader industry in safeguarding against plant health threats."

The Pantry walked away with the Growing Business of the Year and Innovator of the Year awards at The Growing Business Awards 2024 – marking an unprecedented third successive triumph for the Hillingdon-based contract caterer. After a year in which they won 35 new contracts, welcomed over 200 new employees and generated many millions of pounds more in turnover, The Pantry beat out a host of other businesses from across the U.K to the prizes, capping a stellar year for the family-owned company. It’s also marked the third year in a row that The Pantry took home a trophy from The Growing Business Awards, having won the Family Business of the Year award in 2022, and Growing Business of the Year in 2023. Since 1998, the Growing Business Awards have been bringing together and honouring some of the UK’s most outstanding entrepreneurs and high-growth businesses. Consistent high-quality nominees, numerous categories and a finely-honed judging process have ensured the Growing Business Awards have made a name for themselves as a leading judge of past, current and future entrepreneurial success. Managing Director Luke Consiglio reflected, “I feel like Pep Guardiola! Not only to win for a third year in a row, but to enjoy our most successful awards night in two of the most competitive categories makes me immensely proud." "We’ve taken our little business, that started as a sandwich shop on Hayes High Street, and turned it into one of the largest independently-owned contract caterers in the country. These past three years at the Growing Business Awards have reflected what I always dreamed The Pantry would be; innovative, growing, and consistently successful.”

Stepping into the role of a second-generation family business leader is both a privilege and a challenge. On one hand, you inherit a legacy of hard work, values, and achievements. On the other, you face the pressure of expectations, the complexities of modern business, and the responsibility of innovating while preserving what has been built. This unique leadership path requires a combination of respect for tradition, openness to change, and strategic foresight. Taking over the family business from your parents is both an honour and a responsibility. How do you thrive as a second-generation family business leader, respecting the legacy while steering the business toward a future shaped by your vision Understanding the legacy you inherit As a second-generation leader, your journey begins with understanding the foundation laid by the first generation. This involves more than just knowing the company’s history; it’s about appreciating the vision, sacrifices, and resilience that brought the business to where it is today. Take the time to listen to the stories, values, and lessons shared by the founding generation. This information can offer insights into the company’s DNA and serve as a reference for future decisions. At the same time, remember that your role is not to replicate the past but to build upon it, adapting to new challenges and opportunities. Balancing tradition with innovation One of the most significant challenges for second-generation leaders is striking the right balance between honouring the past and embracing change. Family businesses often thrive on their values, long-term relationships, and a deep sense of purpose. These elements are invaluable and should be preserved. However, clinging too tightly to tradition can stifle growth. The business landscape is constantly evolving, with advancements in technology, shifts in consumer behaviour, and increasing competition. As a leader, you need to identify areas where innovation is necessary. This could involve adopting new technologies, exploring new markets, or reimagining products and services to meet modern demands. Building credibility and earning trust Transitioning into leadership may come with some scepticism, both from within the family and the wider company. Employees, partners, and even other family members may question your capabilities or perceive your role as a result of privilege rather than merit. To counter this, focus on building credibility through your actions. Demonstrate your commitment by working in different areas of the business, learning the ropes, and contributing meaningfully. Show humility by seeking advice from experienced colleagues and mentors. Over time, your dedication and results will earn the trust and respect of those around you. Developing your leadership style Every leader brings their unique perspective and approach to the table. While the previous generation may have led with a particular style, it’s essential to develop your own leadership identity. Reflect on your strengths, values, and goals. Are you a collaborative leader who thrives on teamwork, or do you excel at making bold, decisive moves? Whatever your style, ensure it aligns with the needs of the business and the expectations of your team. Leadership today often requires a mix of emotional intelligence, adaptability, and strategic vision. Preparing for the future As a second-generation leader, you are not only managing the present but also shaping the future. This includes grooming the next generation of leaders, ensuring financial sustainability, and fostering a culture of continuous improvement. Mentorship plays a crucial role in preparing the next generation. Share your experiences, involve younger family members in strategic decisions, and encourage their professional development. At the same time, ensure the business is equipped to thrive in the long term by investing in innovation, talent, and resilience. The rewarding journey Thriving as a second-generation family leader is a rewarding journey. It’s an opportunity to honour your family’s legacy while carving your path and leaving your mark. It’s important to remember, you are not alone on this journey. Lean on the wisdom of your family, particularly the first generation, seek support from peers and mentors, and trust in your abilities. With the right mindset and approach, you can not only sustain the family business but take it to new heights, ensuring a lasting legacy for generations to come. About the Author: John Broons is a globally awarded family business expert. One of only three people in Australia to hold the coveted title of Fellow of Family Firm Institute (Boston, USA), John has dedicated his working career to answering the question: how do I guide and support families in business to a place where they’re thriving? Find out more by visiting his website here

Philanthropy is a core part of many families' and family businesses' long-term goals and wealth plans. In the UK, 2023 saw another record year with £13.9 billion donated to charity. Whilst tax relief is not normally a primary motivator for this activity, there are valuable reliefs available to donors that can allow for a gifting strategy to be important. In this article, Robert Davies explores some less well-known options for giving to charity, the reliefs associated with them and how families and businesses can structure their philanthropic objectives to make best use of these. What Is A Charity? In order to qualify for tax relief a donation must be made to a charity (or in some cases Community Amateur Sports Club). Charities can have different formal structures (see below) and many but not all charities are registered with the Charities Commission. In order to qualify for gift aid a charity must have obtained an HMRC charity reference number. What Tax Relief Is Available For Gifts To Charities? A gift to charity can be made in several ways and each has different tax implications. The reliefs for individuals and companies under the gift aid regime and the corporate deduction regime respectively are relatively well known but we will highlight some often-overlooked points. The other mechanisms that we will cover in this article are as follows: Gift of land or other assets to charity Establishing your own charity Using a Donor Advised Fund Gifting to charity in your Will Direct Individual Donations When considering making a donation and a claim for gift aid relief the following points are often overlooked: Tax relief on claims can be carried back to the previous tax year, so long as the return for that year has not yet been submitted (e.g. if a donation is made on the 1 January 2025, tax relief can be claimed on the tax return for the year to 5 April 2024 so long as this has not yet been submitted). Where the level of the donation extends the income rate bands such that part of the gift does not benefit from further relief, a claim can also be made to extend the capital gains tax rate bands, to reduce the rate of tax paid on gains. Where there is insufficient income or capital gains tax payable to cover the amount of the gift aid claimed by the charity, the donor becomes liable for this via their tax return. There are strict rules that apply to benefits that may be obtained by an individual or anyone connected with them for these purposes, as a result of the donation. Direct Corporate Donation Companies that make direct gifts to charity can normally include the expense as an allowable deduction in the computation of their taxable profits. Such a gift cannot create or augment a loss for tax purposes. The same donor benefit rules that apply to individuals also apply to companies. Gift Of Land Or Other Assets To Charity Tax relief is available where qualifying land, buildings or other qualifying investments are given to charity . Relief is given in a different way to a claim for gift aid relief, which changes the rate of tax paid on income or gains. Instead: The value of the asset gifted is taken as a deduction against income before tax is applied. For example, if an individual has a total income of £200,000 and gifts a qualifying asset to a charity worth £80,000, their taxable income will be reduced by £80,000 to £120,000. Such a transfer is treated as not giving rise to a gain for capital gains tax purposes, saving tax that may otherwise have been due on a sale. To qualify a gift must be made of (in summary and subject to detailed criteria): Shares or securities listed on a recognised exchange in the UK (including AIM) or overseas. A freehold or leasehold interest in UK land. The income tax relief can only be claimed in the tax year that the gift was made (unlike gift aid relief). Where a gift is made of land that continues to be used by the donor or is available for their enjoyment or benefit, relief would not be available. Establishing Your Own Charity For families or family businesses who would like to take a more structured and long-term approach to their philanthropy, a charity can provide a generational tool, creating a focal point for the family or organisations charitable endeavours. A charity can mean the family has control over when donations are made that will qualify for gift aid or other tax reliefs, to allow this to be timed with the receipt of income by family members to obtain maximum tax efficiency. The funds would then remain within the charity to be invested, with donations then made to other charitable causes from the fund in the future. The process of setting up a charity is not straightforward and, if the charity's annual income exceeds a certain amount (or if it is to be a charitable incorporated organisation) an application must be made for it to be registered with the Charity Commission. Making an application involves providing key documentation and detail on what the 'charitable purpose' (or 'charitable objects') of the charity will be and how it will operate in practice. In all but the most straightforward of cases, the Commission will scrutinise the application closely to ensure that the purposes are exclusively charitable and that the charity is not designed in any way to benefit the family, the family business, or other private interests. There are four main structures that can be used when setting up a charity. These are: A charitable trust A charitable company (limited by guarantee as opposed to shares) A charitable incorporated organisation (CIO) An unincorporated association Each has its own advantages and choosing the best structure means thinking about how the charity will be funded, how large it is intended to be, what its objectives are and who will be involved. Whatever a charity's structure, its trustees will be required to operate under the terms of its governing document, which sets out what the purpose of the charity is and provides guidance on matters such as how trustees should be appointed in the future, and what rights and powers they have. There is then ongoing administration associated with running a charity. Charities are required to report annually to the Charity Commission, submitting an annual return and, where their income is greater than £25,000 per year, an annual report, and annual accounts. For larger charities, an independent examination or audit of the accounts can be required. Using a Donor Advised Fund (DAF) A DAF provides an alternative to setting up a new charity. Organisations have a master charitable trust to which individuals can make irrevocable donations of cash or assets, obtaining tax relief at the time of the gift. The funds are then held within the trust, for the individual or family to direct to causes as when they see fit. This provides the same tax efficiencies as managing donations via a family charity, but reduces the public profile and some of the administration. The funds are normally invested so that income is available each year to add to the amount available for gifting. DAFs are offered by a number of banks and investment advisors, the Charities Aid Foundation, and community foundations around the country. Gifting To Charity In Your Will Leaving a legacy to charity in your Will can be very tax efficient, for two reasons. Firstly, donations to charity are themselves not subject to inheritance tax. Secondly, if you give at least 10% of your net estate to charity, the inheritance tax rate applying to the remainder of your taxable estate can reduce from 40% to 36%. This can require careful planning depending on the level and type of assets that you hold at death and the manner in which they are held. When done correctly, the tax saving can mean that the reduction in the amount that your beneficiaries receive may be only a small proportion of the amount accruing to the charity or charities. Your Will would need to state the percentage of your estate, specific asset or cash amount that you would like to give and a clear indication of the recipient charity or charities (such as the charity number). It is important that your Will is drafted appropriately and is legally valid. About the Author - About the Author - Robert Davies is a Managing Associate at Foot Anstey LLP. If you would like to discuss your own situation or that of a client, please get in touch with Robert  directly or one of the team.