How family firms could be affected by Budget tax rises

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How family firms could be affected by Budget tax rises - BBC Business

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.