How family firms could be affected by Budget tax rises

Quick Summary:

Farmers have dominated the debate over changes to inheritance tax – but the issue is much wider than that.

But for farmers and businesses, passing on assets from one generation to the next is currently tax free - and that tax relief has been unlimited.

If the company were on the stock market or owned by a private equity fund, it would be under pressure for short-term results."Some of our assets take 10 years to deliver a return.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Assets Inheritance Business Says Scotland Businesses Farmers Generation Family

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 06:31:37 (2 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 1392 words

Reading Time: 8 minutes read

Sentences: 65 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23765669

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 3 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 13 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #43

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