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Government climbdown on inheritance tax for family firms
Newsletter issue – February 2026
Chancellor Rachel Reeves recently reversed part of a planned inheritance tax change affecting family-owned businesses and farms. The threshold at which 20% inheritance tax applies was raised from £1m to £2.5m (or £5m for married couples). She is facing mounting pressure to reconsider the policy entirely.
Campaigners argue that even with the higher threshold, the policy still threatens the survival of many family firms. Paul Andrews of Family Business United called for the tax raid to be scrapped entirely, describing the policy as an "ill-thought-out tax grab." He emphasised that family businesses are vital to local communities and economic growth.
Critics say the government should be supporting growth, not burdening family-run companies. The proposed changes to Business Property Relief (BPR) and Agricultural Property Relief (APR) were expected to raise up to £1.8bn for the Treasury. But new analysis by CBI Economics suggests the policy will instead cost the Treasury around £1.9bn by 2030.
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- Accounts and Taxation
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- Income tax calculations and projections
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Non - recurrent Services
•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning
Recurrent Annual Services based on fixed fee:
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations for Principles and Associates
- Practice manager training about bookkeeping
- 2-4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
- VAT advice
- Capital gains tax planning
- Partnership agreements
- Surgeries finances
- Pension planning
- Budget and cashflow planning
- Inheritance Tax planning
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Our specialist team provides a wide range of accounting and business services to General Practice.
Recurrent Annual Services based on fixed fee:
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Recurrent Annual Services based on fixed fee:
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