The recent Budget changes hit family-run companies hard making many business-owners re-think their long-term plans. The new rules affect inheritance tax business property relief and boost employers national insurance costs
Michael Brundle runs a steel company thats been around since late 1800s (when the Barbican area was just getting started). His business employs over 300 people and ships more than 10k products across UK: “We paid £1m in taxes last year and now we might need to sell our warehouses just to cover the inheritance tax“ he says
The car-sales industry faces similar problems. Richard Manning who runs a 50-year old family garage in Derbyshire with his dad and son needs to find extra £186‚000 yearly for new national insurance payments. “We provide jobs for 115 people but the government dont understand how their decisions affect real businesses“ Manning explains - his company now faces a £4m inheritance tax bill
Weʼre the backbone of the country; thereʼs tens of thousands of us
Exhibition stand maker David Jones built his £10m business over four decades His son joined eight years ago but now their growth plans are stuck: “We cant just sell fields like farmers do to pay the tax its not that simple“ Jones points out
John Thorpe chose to close his 26-year-old IT firm early. “I shut down before more changes come; they see us as cash cows in the middle“ he explains. His liquidator told him their business went up 50% lately which makes the timing even worse
The new rules start in Apr-2026 putting a £1m cap on Business Property Relief. Many owners say this makes growing their companies pointless since bigger success means bigger tax problems for their families