‘Disaster’: Advisers Raise the Alarm on Family Business Tax Raid

‘Disaster’: Advisers raise the alarm on family business tax raid

John Healey’s potential tax raid on family businesses could make handing down companies to the next generation a “disaster” and damage the economy, advisers have warned. The Chancellor is reportedly considering proposals to levy income tax when business owners hand down to their children, potentially almost doubling the bill. Under current rules, transfers can be [...]

Healey’s Family Business Raid Is a Policy Canada Already Scrapped

Healey is considering charging income tax rates when owners hand their firms to their children, according to the Telegraph. Recycling a pointless policy other countries have already tried and binned… Canada previously taxed family sales as dividends, making it cheaper for a business owner to sell to a stranger than to their own children. Parliament…

John Healey eyes another tax raid as family businesses warn they are being pushed ‘to extinction’

Chancellor John Healey has been considering slapping yet another tax on family-run businesses in a hammer blow to small firms up and down the country. Mr Healey is weighing up forcing business owners to pay income tax when they pass their companies down to the next generation.The Treasury is plotting to make the change by replacing the existing capital gains tax with income tax, leaving business owners exposed to paying higher bills to HMRC. Fam…

Healey weighs income tax on family business handovers

John Healey is considering a family business tax change that would charge income tax, not capital gains tax, when owners hand firms to their children.