Figure 2: Actions Since Budget
A large proportion of impacted family businesses have taken measures to mitigate BPR already
What additional steps, if any, might you take to mitigate any potential impacts of changes to BPR in the future (before April 2026) (% of respondents, N=3,357)
What measures have you already taken to mitigate any potential impacts of changes to BPR, if any? (% of respondents, N=3,357)
Take(n) legal advice
68%
66%
55%
44%
Pause(d) or cancel(ed) planned investments
Defer(red)/reduce(d) investment
41%
38%
Reduce(d) headcount or pause(d) recruitment
23%
23%
16%
46%
Gift(ed) shares or assets to family members Reduce(d) or cancel(led) charitable contributions or community activities
15%
16%
7% 6%
22%
Downsize(d) business
Intentionally hold(held) back business/asset growth beyond the £1m valuation threshold Take(took) out insurance to cover future inheritance tax costs
9%
6%
24%
3%
13%
Sell (sold) assets and/or shares to non-family
Close(d) business and liquidated
0% 0% 0%
7%
Relocate(d) business assets overseas
5%
Sell (sold) off business entirely)
12%
9%
5%
Other (please specify)
3%
7%
Not sure/ don’t know
6%
1%
(Do) nothing/ no change
80% 70% 60% 50% 40% 30% 20% 10% 0%
0% 10% 20% 30% 40% 50% 60% 70%
Figure 3: Regional Impact from BPR
Away from the hard economic numbers, one of the most concerning impacts of the policy change is on the role family businesses play as champions of their local communities and supporters of local charities. The owner of one business based in the South-East told us: “ We have historically been very active in the local community. We were planning on providing land
and building a football pitch for the benefit of young people to help them get off the streets. But this has now been cancelled as we provide for IHT liabilities” The findings underline what we have been saying to policymakers for years: that BPR and APR are examples of how tax policy can be used to create good growth, to incentivise businesses to invest by giving them
confidence to make long-term commitments to their business, their workforce and their local community. We will continue to use these data to push for a full reversal or amendment to the decision taken during last Autumn’s Budget. Please visit our website to download a copy of the full report. Send it to your MP and highlight the impact in their constituency. www.familybusinessuk.org
21
Made with FlippingBook - professional solution for displaying marketing and sales documents online