This research report - Taxing Futures - highlights the economic and fiscal implications of changes to Inheritance Tax Reliefs (BPR and APR) for UK family businesses and farms. It shows how family-owned businesses are responding to the policy change and models the economic impact of a reduction in investment and jobs across the country. It highlights the needs for an urgent and full review of the changes to BPR and APR to prevent further unintended consequences for UK family businesses.
Foreword | 4 |
Executive summary | 5 |
Introduction | 7 |
Understanding the effects of IHT reform on UK family-owned businesses and farms | 9 |
The impacts on the UK economy and public finances | 19 |
Regional and local impacts | 27 |
Appendix 1: Methodology | 32 |
Appendix 2: The input-output framework | 34 |
Appendix 3: UK constituency-level findings | 34 |
About this report | 52 |
Acknowledgements | 53 |
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