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Whilst times remain incredibly challenging, what we’re hearing from many family businesses is that they are confident they can remain agile and turn challenges into opportunities.

In our latest quarterly update for owners of family businesses we look towards the year ahead and explore some of the key business trends that family businesses need to be aware of in 2021.

As this pandemic continues many of us are taking time to reflect on our impact and purpose. For many family businesses legacy, and sustaining this across the generations, is at the heart of what they do. We explore the important role that legacy plays in binding the core purpose of the business with the family’s values and what they achieve together through multiple generations.

We also hear from two of our experts on the importance of purpose and, with many families looking to support local communities and projects, how the right approach to giving matters.

Finally, we take a look at the future tax landscape focussing on the speculation around Capital Gains Tax and whether the UK should have a Wealth Tax.

If you have any questions or comments regarding any of the topics in this newsletter, or other matters you would like to discuss, please feel free to contact us at familybusiness@kpmg.co.uk. or sign up for Family Business alerts to keep yourself up to date with the key issues privately owned businesses are facing.

The tax landscape

As we approach the Spring Budget there is much speculation around what the Chancellor will do to offset government borrowing.

Jo Bateson, Private Client Tax Partner & London Head of Family Office & Private Client, shares her views on the possibility of changes to Capital Gains Tax and whether the UK should have a Wealth Tax.