The Chancellor laid out a supportive package of measures to help businesses, whilst having one eye on a longer term plan to balance public finances. Despite recent speculation about changes to Inheritance Tax, Capital Gains Tax, and the introduction of a Wealth Tax, the current thresholds have been maintained for the time being.
For Family Businesses this is helpful; continued support through the course of the pandemic, but also providing a valuable opportunity for owners of family businesses to review their affairs before further reform to the country’s tax environment.
Below are some of the key changes that we believe will impact Family Businesses.
If you have any questions or comments regarding the changes announced in the Budget, or any other matters you would like to discuss, please feel free to contact us.
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