FBUK Autumn Budget Submission – Retain BPR
Family Business UK (FBUK) has called on the Labour Government to commit to retain Business Property Relief in full and bring Gift Holdover Relief eligibility into alignment with BPR.
In a submission to Government, ahead of the Budget on 30th October, FBUK has repeated calls from our Manifesto and previous Budget submissions to ensure family businesses are not disadvantaged or penalised.
The submission states:
With strained public finances, the removal of BPR may appear an attractive option. Such a move would represent an existential threat to family businesses.
Ahead of the Budget, Family Business UK calls on the Government to:
- Commit to retain Business Property Relief in full
- Bring Gift Holdover Relief (GHR) eligibility into alignment with BPR to enable a smooth transition in ownership between generations
These reliefs are not just financial measures. They are policies that sustain the values of hard work, responsibility and opportunity – values that underpin our economy and way of life.
Removing or capping them would be catastrophic to family businesses, lead to the loss of good jobs, weaken the economy and leave Britain a poorer place.
The Family Business UK Budget submission is now available to view online. To download the full FBUK budget submission, please click here.
END.