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Britain's Healey plans income tax on family business transfers, Telegraph says
eBay said any VAT overhaul should protect small sellers as ministers weigh reforms that could raise up to £1 billion, according to the company.
- John Healey is considering replacing capital gains tax with income tax for some transfers of family businesses to the next generation.
- Redeemable-Share transfers currently face capital gains tax of up to 24%, while income tax could reach 45% under the proposal.
- Andrew Griffith criticized the proposal, saying it could make passing a family business to children harder.
- The proposal follows other measures affecting family firms, including inheritance-tax changes.
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Britain's Healey plans income tax on family business transfers, Telegraph says
British finance minister John Healey is drawing up plans to charge income tax on transfers of family businesses to the next generation ahead of the October 28 budget, the Telegraph newspaper said on Sunday.
·London, United Kingdom
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John Healey eyes another tax raid as family businesses warn they are being pushed ‘to extinction’
John Healey eyes another tax raid as family businesses warn they are being pushed ‘to extinction’ . John Healey is eyeing yet another tax raid on family businesses, with experts warning it could push them "to extinction"
·London, United Kingdom
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Coverage Details
Total News Sources10
Leaning Left1Leaning Right4Center4Last UpdatedBias Distribution45% Center, 44% Right
Bias Distribution
- 45% of the sources are Center, 44% of the sources lean Right
45% Center
11%
C 45%
R 44%
Factuality
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