Inheritance tax changes and the impact on family-owned businesses

Family-owned businesses face unique complexities, such as issues related to business structure, family dynamics, and shared ownership. Following Rachel Reeves’ Budget, these businesses now face additional challenges in navigating the changes to inheritance tax (IHT) and Business Property Relief (BPR).

In this episode, Leonora and Mike analyse the specific implications of the Budget changes for family-owned businesses. They also discuss the challenges faced by finance directors in managing cash flow and navigating the complexities of IHT and BPR.

Also, don’t miss the first episode of our Budget coverage, where we explored the broader impact of IHT and capital gains tax (CGT) changes on the agricultural sector and tax planning strategies, and our article on succession planning strategies for family businesses.