The new Head of Training at a large recruitment business believes talking on the phone is becoming a lost art. Victoria Bari says those entering the industry often prefer emails and messaging, which are less effective than talking to people. She is urging the newer consultants at Berry Recruitment Group – which is headquartered in St Albans, Herts - to pick up phones and talk to clients because they are more likely to be successful. The rise of technology has led to a reduction of phone use, but Victoria says it is still the best way to sell. She said: “There is certainly a generational divide and for younger, more inexperienced consultants, emails and messaging are the first route of communication. But talking to people remains the most effective method of building relationships, which is a fundamental building-block of sales." “Finding the right person to talk to – and their direct line or mobile number – is also a skill that we are training recruits to understand. All the technology is wonderful and necessary – and Berry Recruitment’s app proves it - but it should run alongside old-fashioned calls" “The more conversations, the better the relationship and the more chance of placing a candidate with a client." “As recruiters, our products are people and when a consultant has a good one I’m telling them to call businesses and tell them what a great candidate they have. When a new consultant begins making calls and realises how effective they are, their confidence grows and calling becomes second nature." “I have been visiting BRG branches and the consultants are highly knowledgeable and skilled and with newer ones making more calls the results are improving. The more experienced recruiters for whom phone calls are standard are great role models for the less experienced ones. I’m telling the younger staff to listen to how the experienced recruiters talk on the phone – it is a skill.” Victoria has previously worked as a consultant on a regional level, has run her own businesses and has previous experience as a trainer. Lee Gamble, managing director of Berry Recruitment, said: “For those of a certain generation the primary use of a phone is to speak to people. For younger people that is not necessarily the case and messaging and emails are the first option. But they must run alongside calls." “Phone technique, phone manner and knowing what words to use remain important. We have a brilliant app but it works best alongside branches that people can walk into and also consultants hitting the phones.”

The increase in Employers National Insurance Contributions is a significant cost for the family business sector which collectively employs 13.8 million people across the UK. These increases, irrespective of the sector in which a family firms operates represent an increased cost of doing business that will undoubtedly have consequences for many businesses, and for some result in the need for cost savings, redundancies and possible closures, especially in the labour intensive sectors such as retail and hospitality. Family Business United looked at the figures with Cetin Suleyman, partner at accountants Goodman Jones to look at the financial impact that the changes could have. Prior to the changes announced in the Budget, based on an average salary of £36,000 a year before taxes (based on the November 2024 Government data for average salary in England & Wales across all sectors) the cost of Employers NICs was £3,712. With the changes announced this rises to £4,650 per person, an increase of £938 a year per employee. Due to the very nature of the different sizes of family businesses and a significant proportion employing less than 10 people, assuming that one in ten people employed in family firms are affected by the changes, that would be 1.38 million employees which at a cost of £938 per employee would result in increased contributions from family business employers of £1.3 billion a year. However, we know form the Oxford Economics report into 'The UK Family Business Sector 2021-22' that 149,858 family firms employ more than 10 employees which would create a cost of £1.4 billion a year, assuming they all employed 10 staff. We can also see that there are 18,303 employing more than 50 staff and 1,516 over 250 staff so this figure is clearly an underestimate of the full cost and burden on the family business sector. Size of Businesses Number of Firms Small family firms (10-49 employees) 130,039 family firms Medium family firms (50-249 employees) 18,303 family firms Large family firms (250+ employees) 1,516 family firms Total family firms 149,858 family firms Source: The UK Family Business Sector 2021-22 As Paul Andrews, Founder & CEO of Family Business United explains, "This is a large burden on the family business sector and a cost that goes direct to the bottom line in family firms across the country. For many, coming after all the economic uncertainties of the past few years, Brexit, the global pandemic, supply chain issues and rising energy costs it could be the final straw. It will certainly result in different decisions being made in family business boardrooms across the country." "Family businesses pride themselves on taking the long term view and building businesses to pass on to future generations, safeguarding jobs for their employees too, many who will be descendants in families that have worked in the business for generations too." "However, they also need to be financially sustainable and we are already hearing of large family business employers have to change their plans for the future in order to afford the increases they are being faced with. Family businesses already contribute significantly to the Exchequer in terms of the taxes they pay and we have to be fearful that the increase to NIC's will result in firms reducing their investments, cutting back on recruitment and looking at their staffing models." As Cetin adds "When the increase in National Insurance is factored in with the increase in National Minimum Wage outstripping inflation by 400% many businesses will have stark choices to make." "Projecting the financial impact is one thing, but a more fundamental pivot will be around accelerating the use of technology, and particularly AI, to replace jobs and reverse rising employment costs. For family businesses, this could go completely against their key principles of people and purpose, but failing to look at all of the options could prove very costly indeed."

Willmott Dixon’s net zero skills has been chosen by Oxfordshire County Council to deliver its highly sustainable new headquarters building at Speedwell House. The council is relocating from its current premises at County Hall in Oxford to a new four-storey home at Speedwell House, also in Oxford. Before this happens, Willmott Dixon will extend and redevelop Speedwell House to create a 5,200m2 ‘net zero in operation’ office. The company has been procured through the National Procure Partnerships framework for the project after the county council’s cabinet agreed in January 2024 to move its headquarters to Speedwell House in 2027. It allows the council to move into modern, net-zero accommodation, which in turn will enable its former home at County Hall to be re-imagined by a new owner as part of the regeneration of the West End of the city centre of Oxford. Councillor Liz Leffman, leader of Oxfordshire County Council, said: “We believe that our decisions at County Hall and Speedwell House will improve the delivery of services and will help with the physical, social and economic regeneration of Oxford. We will use the move to stimulate this ambitious thinking for the city and the county as a whole.” Willmott Dixon will start work to extend Speedwell House and add extra floors in 2025, once designs are complete. It underlines Willmott Dixon’s role as one of the country’s leading contractors for building new or refurbishing existing building environments to become net zero in operation. Recent examples include the Bridgend College redevelopment, a new campus for Wigan & Leigh College and the TBC. London development that will be net zero in operation when complete. Councillor Dan Levy, Oxfordshire County Council’s cabinet member for finance, added: "This is a once in a lifetime opportunity for us not only to create a modern carbon-neutral office and a welcoming and comfortable space for our employees, councillors and residents, but also to help transform this part of the city and better support those using the area. We’re looking forward to seeing the new offices take shape and to moving in during early 2027." Richard Poulter, managing director for Willmott Dixon in the South said: “We’re excited to be working with Oxfordshire Country Council to take forward its vision for a new future at Speedwell House. Being involved early will enable us to help develop plans that deliver on their net zero ambitions at the best possible value. “We recently completed a series of decarbonisation projects for Oxford City Council at four leisure centres: Ferry Leisure Centre, Leys Pool and Leisure Centre, Barton Leisure Centre, and Hinksey Outdoor Pool. We’ll be taking the skills and learning from here to Speedwell House.” Faye Dolan, framework director at National Procure Partnerships framework, said: “Procure Partnerships Framework are delighted to have supported Oxfordshire County Council on the Speedwell House project to procure Willmott Dixon." "The construction of Speedwell House will provide a fantastic office facility, that is fit for purpose and provides a comfortable environment for Council personnel and residents. We look forward to seeing the project progress on site!” Photo: The proposed new location at Speedwell House

Novus Property Solutions is supporting its longstanding client, hospitality company Whitbread, as it reveals brand new national further education college partnerships to help young people with additional needs learn new skills and get into work. The Premier Inn owner is delighted to reveal it is partnering with The Liverpool City Region and Lincolnshire County Council as part of its Thrive programme. Thrive is an acceleration of its longstanding work with Derwen and Hereward specialist colleges supporting young people with special educational needs and learning disabilities. Novus, a leading maintenance and decarbonisation contractor, has assisted the programme through creating replica bedrooms and laundry rooms. These spaces allow the young people to practice the skills needed to work in a Premier Inn hotel. The new partnerships will help scores of young learners nation-wide and puts Whitbread firmly on the path to achieving its ambition to get 100 supported interns into paid employment from special needs educational establishments every year. In the Liverpool City Region, the partnership will eventually support six local authorities, including The Wirral, City of Liverpool, St Helens, Knowsley, Sefton and Halton. Liverpool City College and Wirral MET College will be the initial educational partners. In Lincolnshire the partnership will support the council’s Young People’s Learning Provision, which works with schools across the county. The partnerships will see students learning about all areas of hospitality through work experience and supported internships under the guidance of their job coaches with the chance to move into paid employment with Premier Inn. Skills include different aspects of working in hotels from guest relations and housekeeping – which also support the students to live independent lives and enhance their social skills and confidence, including by working on curriculum and being part of the Premier Inn team. Fittingly, the announcement was revealed at existing partner Hereward College in Coventry, as four hospitality students celebrated their graduation as interns, with permanent employment secured with Premier Inn. It is the success of this existing partnership – and Derwen College, based in Oswestry – that has inspired the acceleration of the scheme. Simon Ewins, Premier Inn Managing Director UK Hotels & Restaurants said: “Our longstanding partnerships with Derwen and Hereward Colleges – and the young people we’ve come to know through them – are an enormous source of pride for all at Whitbread." "Thanks to their success, we are absolutely thrilled to reveal new partnerships with colleges and local authorities that will support young learners with additional needs from all over the country. Our hotel teams are absolutely raring to welcome the new learners into sites across the North West and Lincolnshire”. Councillor Lila Bennett, Liverpool City Council’s Cabinet Member for Education, said: “Having a diverse workforce with people of all backgrounds and disabilities enriches the culture of an organisation and can be life changing for all involved. I hope Whitbread will inspire other organisations to take part. The scheme is a key part of our ambition to tackle inequality and maximise the life chances for residents in our city.” Councillor Mrs Patricia Bradwell OBE, executive member for children’s services at Lincolnshire County Council, said: “We want to help all local children get a good start in life. This new partnership will provide our learners with valuable work experience and provide a route into employment, helping them develop their independence. We’re very grateful to Whitbread for offering this wonderful opportunity and look forward to seeing the real difference it will make to our learners’ lives.” Gill Banks, Principal and CEO of Wirral Met College said: "We are thrilled to join forces with Whitbread in this invaluable initiative that aligns perfectly with our commitment to supporting young people with additional needs." "At Wirral Met College, we believe in empowering all our students to achieve their full potential, and this partnership with Premier Inn offers them a fantastic opportunity to gain vital skills and real-world experience in the hospitality industry. Together, we are opening doors to meaningful employment and building confidence in our students. We look forward to seeing the positive impact this collaboration will have on our community." John McMonigle, Novus Property Solutions, Head of Operations said: "As a business, we have set a vision to be a force for good and as a responsible business we are committed to playing our part in supporting the communities who need the most help." "We are proud to have supported the longstanding partnerships with Derwen and Hereward Colleges helping young people with additional needs learn new skills and get into work, and we are committed to continuing to support Whitbread's national further education college partnerships across the country to provide even more opportunities to the wider local community." Thrive is part of Whitbread’s Force for Good commitment to help people live and work well. As an inclusive employer Whitbread is committed to supporting all its colleagues, including those from under-represented groups such as those with disabilities, people who are ethnically diverse and those who identify as gay, lesbian, bi-sexual, trans sexual, non-binary or use another term. If you are an educational institution or local authority and are interested in exploring this opportunity, find out more and submit an expression of interest via the Thrive page of the Whitbread website. Thrive Programme - Whitbread PLC

The recent Budget introduced a key change to Business Property Relief (a form of Inheritance Tax relief) which could adversely affect many family-owned businesses throughout the country. Whilst this change has been publicly debated in terms of how it could affect farming businesses, there has been less focus upon how it could also affect other types of family-owned trading businesses. This needs to change. Business Property Relief offers different rates of relief depending upon the specific circumstances. However, at its most beneficial it can exempt the entire value of a person’s business interest from Inheritance Tax in the event of a person’s death. This has been a vitally important relief enshrined within our tax system to ensure that family businesses can pass down a business to the next generation without the cost of what could otherwise be a significant Inheritance Tax charge. This is particularly pertinent as many family-owned businesses do not have the liquidity within their business to pay such an Inheritance Tax charge. The new changes mean that the highest form of Business Property Relief, 100% Business Property Relief is limited to being applied over up to £1 million of value. The value of an individual’s business interest over and above £1 million will now only benefit from Inheritance Tax exemption on 50% of the excess value resulting in an effective rate of tax of 20% on such excess value. These changes will take effect in relation to deaths which occur on or after 6 April 2026. Whilst £1 million may still seem a generous threshold, there are many valuable family-owned shareholdings or business interests worth significantly more than this and individual family members may also have a number of different business interests which collectively are worth significantly more than £1 million. It is also apparent that the value of such businesses are not based upon liquid assets held by the business and may instead be based upon the business name and reputation, the contracts held by the business and plant and machinery integral to the business operation. It should also be highlighted that the payment of Inheritance Tax needs to be made by the deceased’s Personal Representatives. If funds do need to be accessed from the business itself to pay the Inheritance Tax, this could trigger a further tax charge on extraction of those funds. Consideration will need to be given by business owners as to what steps they look to take to plan for these changes. One obvious solution could be to accelerate lifetime gifting of business interests to family members so that the value is fragmented between a number of family members rather than the value being loaded so much with one individual. This will ensure that more value can benefit from 100% Business Property Relief and may represent good business succession planning in any event as certain younger family members take more of an active management role within a business. However, any fragmentation of business interests can result in wider impacts such as risks to business cohesion and family conflicts affecting the direction of a business. Capital Gains Tax would also need to be considered in relation to the gift of business assets. Establishing a family trust may also be a way of helping to address the tax concern ( the Trustees could include the owner of the original shareholding) and this approach may also help manage the concern as to business cohesion and loss of control. There is also an existing mechanism which enables the personal representatives of an estate to elect to pay Inheritance Tax on business assets in ten equal annual instalments over 10 years which can help to manage liquidity problems. It does not seem as if the Government intends to restrict this right. The exact nature of the new rules is not fully clear as the Government has not published any draft legislation relating to the proposed changes. It does seem however that the Government is intent on making the proposed changes and the only area which they are looking to make subject to a technical consultation is how the new Business Property Relief allowance should apply to lifetime transfers into trusts. This consultation is due to be released in early 2025. It is apparent that family business groups have not been as vocal in opposition to Government plans as the farming community. However, this is likely to change once the impact of the changes starts to be felt by the business community. About the author: Gavin Birchall is Head of Tax & Trusts at Birketts , a UK Top 50 law firm, with a dedicated, full service family business team. Gavin is a trusted tax advisor for a number of business owners, high net-worth individuals and their families. This role includes providing strategic tax advice as well as managing their tax affairs. Gavin can be contacted at gavin-birchall@birketts.co.uk.

Potter Space, a leading provider of industrial and logistics properties specialising in small to mid-box units, is pleased to announce the appointment of Will Hean as Non-Executive Director. This strategic addition to the leadership team reinforces Potter Space’s commitment to sustainable development and future growth. Will Hean brings extensive experience in sustainable urban development, with a strong track record in managing high-profile projects across the UK. His most recent role at Osborne+Co saw him overseeing significant real estate developments, aligning with Potter Space’s focus on long-term growth in the industrial property sector. In his new advisory role, Will Hean will support Potter Space in refining its strategic direction and expanding its presence in key markets. His expertise in real estate development and sustainability will be instrumental in driving the company’s ongoing growth initiatives and supporting its commitment to delivering high-quality business parks. Will Hean added: "It's an exciting time to be joining Potter Space, as we focus on future project developments. With an expanding pipeline and a forward-looking approach to infrastructure and innovation, I'm eager to contribute to projects that support the company's long-term vision and continued success across its sites." Jason Rockett, Managing Director at Potter Space, commented: "Will joins us at a pivotal moment as we expand our portfolio. His track record will be invaluable as we set new standards in the I&L sector. This appointment strengthens our commitment to developing adaptable, high-performance facilities that support our customers' evolving needs. " The addition of Will Hean to the leadership team, following the recent appointment of Richard Bousfield as Property Director, further enhances Potter Space's capacity to deliver high-quality developments, supporting its vision to provide a "Home for Business" to customers across the UK.

As part of the ongoing #FamilyBusinessMatters campaign, in light of announcements in the Autumn Budget, Family Business United ('FBU') is calling upon members of the family business community to sign a petition asking the Chancellor to reconsider the changes to Business Relief, also known as Business Property Relief which could have devastating consequences for many family firms. As Paul Andrews, Founder and CEO of FBU explains, "As champions of the family business sector we know the effort that family business leaders put in to running their businesses, creating a culture of sustainable business practices and looking to the long term making decisions that endure long past their time at the helm for future generations." "The announced changes will have significant impact for many family businesses across the UK, in all sectors of the economy, as the changes to the rules will jeopardise the transition of ownership between the generations and some businesses may have to resort to a sale in order to meet liabilities that fall due. The unintended consequences for family businesses in all sectors could be significant and our members are rightly concerned about them." "We need to do all that we can to raise awareness of the importance of family firms to the UK economy in terms of income creation, wealth generated, taxes already paid, communities supported and the long term stewardship view that they take, and at the same time are encouraging them to sign our petition that we hope will make the Chancellor and other decision makers take stock and reverse the decision recently announced." Family business owners, shareholders, those working within the family business sector and those with concerns about the impact of the announcement are encouraged to sign the petition and help us in our campaign to ask for the 'Family Business Tax' to be reversed. Add you voice to the campaign by signing the petition here This is part of our wider campaign to continue to champion and raise awareness of the importance of family firms to the UK economy because #FamilyBusinessMatters

The UK Budget 2024 has introduced some notable changes to Business Property Relief (BPR), prompting fresh considerations for family business owners looking to safeguard their legacy. BPR has long provided tax benefits on qualifying assets, making it easier to pass family businesses to the next generation. Now, with new adjustments, it’s time to reassess and plan for the future. What’s Changing with BPR? Until now, many family-owned business assets could be passed on free from inheritance tax, supporting smoother transitions and continuity. But from April 2026, BPR will be limited to the first £1 million of combined agricultural and business property. Any value above this threshold will receive just 50% relief, introducing potential tax liabilities that family businesses haven’t faced before. For shares listed on the Alternative Investment Market (AIM), relief will be reduced to 50%, regardless of the asset’s value. These changes reflect the government’s aim to increase tax revenues while preserving relief for essential business assets. However, they may lead to significant tax obligations for families transferring business ownership. What Family Business Owners Should Consider With these changes, it’s essential for family business owners to review their plans and ensure they’re prepared. Here are some key steps to consider: Anticipate Tax Implications: With the new £1 million cap, assets over this threshold will face inheritance tax of 20%, which may require additional planning to manage. Taking time now to assess your holdings and tax exposure can make all the difference down the line. Ensure Business Continuity: The additional tax burden could mean some families may need to liquidate certain assets or shares to cover inheritance taxes, which can impact the business itself. Planning for continuity can help keep your business intact and thriving. Review Investments in AIM Shares: The reduction in relief for AIM shares may make them less appealing for inheritance tax planning. Now might be a good time to revisit your investment portfolio and see if adjustments are needed. Seek Professional Advice: Consulting with tax and financial advisers can provide clarity on these new rules and help you explore strategies to reduce tax liabilities, whether through restructuring, alternative reliefs, or trusts. Looking Forward Changes in the Budget may feel daunting, but with proactive planning and the right support, family businesses can still thrive across generations. Taking the time to explore your options, ensure liquidity, and consult professionals will help your family business adapt to these shifts while keeping your legacy strong. About the Author - Jeff Simpson is a Chartered Financial Planner at Hymans Robertson Personal Wealth. Find out more by visiting their website here The contents of this article is for general information purposes only and should not be regarded as financial advice. It should not be considered a substitute for regulated advice on specific circumstances and objectives.

Deloitte Global has released the fourth edition of the Global Future of Cyber survey, which found that cybersecurity is increasingly becoming a cornerstone of many organisations’ growth strategies and business plans amidst today’s advanced and complex threat landscape. The findings from Deloitte Global’s largest cyber-related survey to date show how decision-makers are shifting their responses to cyber threats. Among other strategies, businesses are increasing the responsibility and strategic influence assigned to chief information security officers (CISOs), promoting further involvement from the board on cybersecurity-related matters, and turning to measures like artificial intelligence (AI). In recent years, the ever-evolving tech environment has led Deloitte to identify organizations based on their level of cyber-maturity in the survey findings. Key indicators of a high-performing, cyber-mature organization include increased efforts of cyber planning, implementation of key cybersecurity activities, cyber engagement at the board level, and deployment of AI within their cyber programs. This year’s survey reinforces the urgency of securing cyber systems, as 25% of respondents from cyber-mature businesses reported 11 or more cybersecurity incidents in the past year, a 7% increase of incidents since the 2023 survey. Stemming from the climbing number of cyberattacks, the report underlines the growing responsibilities CISOs are having as important allies to their CEOs and boards, particularly as their influence expands across an increasingly tech-savvy C-suite. One aspect in making the role exceedingly important has been the growing wave of AI-generated threats, which can target enterprises to exploit vulnerabilities by impersonating trusted sources. While the CISO’s expertise gains value, organizations are turning simultaneously to AI-enabled tools to strengthen cybersecurity and combat risks. Each of this suggests an increasingly integrated cyber function across business and technology: Around one-third of respondents report a significant increase in CISO involvement during strategic conversations about tech-related capabilities in the past year. Over the last decade CISOs have traditionally reported to the chief information officer (CIO), however they are increasingly gaining the ear and trust of CEOs, as 20% of decision-makers revealed their CISOs now report directly to their CEO. Cyber is playing a large role in securing an organization's investment in tech capabilities, particularly when it comes to priority areas such as cloud (48%), Generative AI (41%), and data analytics (41%). On average 39% of respondents are using AI capabilities in their cybersecurity programs to a large extent. "The rise of AI and other evolving technologies has significantly transformed the threat landscape. As threats become more sophisticated and impactful to core business, CISOs are increasingly required to adopt a more strategic role driving cross business risk prioritization and mitigation,” says Emily Mossburg, Deloitte Global Cyber Leader. “The close relationship between CISOs and CEOs is a testament to the role security plays in a business’s long-term success. Today, CISOs are not only protectors against outside threats, but key players helping their organization find success by integrating cyber considerations in the strategic decision-making process.” Organizations continue to embrace cyber as an essential component of their enterprise tech stack, budgeting strategies, and future business plans. They also increasingly rely on technology-driven programs to fuel growth and innovation. As business leaders realize the potential of cyber, the report finds: The top three expected outcomes from cybersecurity initiatives are protecting intellectual property (46%), improving threat detection and response (44%), and increasing efficiency and agility (44%). Overall, 83% of respondents agree or completely agree that measures like qualitative risk assessments and benchmarking are an integral part of their overall cybersecurity strategy. 58% of respondents also expect to begin integrating cybersecurity spending with budgets for other programs, such as digital transformation initiatives, IT programs, and cloud investments. “This year’s report highlights how the connection between cybersecurity and business outcomes continues to grow stronger, enabling cyber to have greater impacts in achieving organizational objectives” adds Mossburg. ”The increased reliance organizations have on their technology-driven programs is evolving the CISO roles and their cyber initiatives into essential components in driving business growth in a tech-powered future.” The Future of Cyber findings exhibit how cybersecurity is integral to building trust in a tech-powered future and point to why organizations should continually invest in areas throughout their business to increase cyber efficiency and overall growth. Specifically, organizations should focus on hiring and developing cyber talent, executing thorough digital planning, and collaborating with extended ecosystems, all while incorporating cyber into strategic business initiatives. For more information, please visit Global Future of Cyber Survey , 4th Edition.

Family business leaders across the nation are struggling to come to terms with the devastating impact that the recent Budget will have on their businesses, with the increased levels of National Insurance Contributions and changes to the National Minimum Wage directly impacting their bottom line and the longer term challenges and uncertainty they now face in light of the changes to Business Relief and the impact on future inheritance tax. These changes come on the back of years of economic uncertainty and a pandemic, the impact of which continues to have an impact on family businesses the length and breadth of the UK. Family Business United (‘FBU’), a leading voice for the family business community in the UK and beyond is calling for the Government to review their position and reverse the decision in respect of Business Relief, also known as Business Property Relief. Family businesses are the backbone of the UK economy. Many have been owned by families for generations where each new generation has taken on the mantle, invested in the business and its people, and innovated, creating sustainable businesses for all our futures. Until now, the reliefs available for the passing of shares from generation to generation has enabled them to continue to build on the work of those going before them, seeing themselves as stewards of the business for future generations. Now, with the £1 million cap to Business Relief and the remainder of the value of the shares passed on becoming subject to Inheritance Tax, family business leaders are being faced with difficult decisions, an extraordinary short term challenge to plans that normally take decades to manage with no transitional phase. As Paul Andrews, Founder and CEO of Family Business United explains, “Despite all of the lobbying by many organisations before the Budget was announced, the Government clearly does not understand the impact of these changes which may result in family businesses being forced to sell in order to meet new inheritance tax charges, changing the very essence and nature of the businesses and affecting the livelihoods of hundreds of thousands of employees, many of whom will have also had previous generations who have worked for the family firm.” “The impact of the proposed changes has not been thought through nor the true impact of the proposals understood.” “Family firms are significant employers, income generators and wealth creators, not to mention the support they provide to the communities in which they operate. and they already pay significant taxes on the performance of their businesses, and associated taxes that come with employing so many of the working population." "The proposals for Business Relief are not sustainable for many and whilst the Government may see it as a way to raise further funds there will undoubtedly be serious unintended consequences as a result.” FBU is calling for the Government to look again at the figures and the serious economic impact that the proposals will have. Family businesses that close will no longer be making any contribution and those that continue will be forced to cut back on investment and capital expenditure, hindering growth ambitions, whilst trying to meet their other obligations as good employers, not just doing business but doing it the right way for the good of all working people. Family firms are the bedrock of communities around the country and these changes jeopardise their long term survival which has to be a concern for communities who, in many cases, would not fare well from the loss of a key, local employer. FBU wants MP’s to understand the consequences of the new inheritance tax policy fully, which is why we are mobilising our members and the broader family business community to seek their reversal. The new Family Business Matters campaign will be a way for the community to come together to call for change and we are encouraging family businesses across the country to join us in making their voices heard. “There’s still time for the Government to accept they’ve got this wrong, and my message to Ministers is that they should do the right thing and reverse this awful Family Business Tax,” concludes Paul. FBU is urging all family businesses to write to their local MP, the Chancellor of the Exchequer and to support our media campaign to create a voice for change because #FamilyBusinessMatters , and we will shortly be distributing a pack to help them get involved. In addition, FBU has created a petition calling for the Government to abolish the 'Family Business Tax' which can be signed here Get in touch with the team at FBU to find out more.

As of today (November 13) there are just 102 working days left for entrepreneurs to cash in before new higher rate on capital extraction kicks in to 14% from current 10%. Thousands of business owners in the UK are now in a race against time to wind up their companies solvently and extract capital before the Chancellor’s tax guillotine falls on 6 April. That’s the cut-off date in the new year before the tax rate on Business Asset Disposal Relief (BADR) rises from 10% to 14% on the first £1m of qualifying gains. Announced in the Autumn Budget, the red-ink deadline of 5 April has already resulted in a surge of get-the-ball-rolling enquiries to Azets, the UK top 10 accountancy and advisory firm, as founders look to minimise their tax bills. “Any business owners who are contemplating winding down and extracting capital are urged to take immediate action,” said Chris Tate, an Azets partner who advises business owners on solvent liquidations. “Leaving it much longer to kickstart such plans could risk missing out on what can be life-changing amounts of money.” He added: “Whilst the changes represent a further tax grab, the silver lining is that the lifetime allowance of £1 million and existing qualification rules have not been tampered with, providing a further window of opportunity for business owners to maximise their tax savings." “Many business owners have spent years building their businesses, working hard and taking risks, so they understandably want to keep as much of the fruits of their labour as possible.” For distributions above the first £1 million BADR threshold, the capital gains tax rate of 24% applies. Chris, who works out of Azets’ South Coast offices, said: “What might not be appreciated by Westminster is that the 5 April deadline could have wider unintended consequences with a wave of well-run companies calling it a day on trading in order for owners, worried by the financial implications of the Autumn Budget, to accelerate retirement plans and exit earlier than planned." “If you own a business and have worked tirelessly to build it up over the years, generating jobs and employment taxes, you can be forgiven for feeling a tad sore about the impending tax relief reductions." “By way of basic example, if you qualify for BADR and your business has net assets worth £500,000, you’d receive £450,000, with a tax bill of £50,000 at the current 10% tax relief." “From 6 April, at 14%, you’d receive £430,000, with a tax bill of £70,000, and from April 2026, at 18%, that is a tax bill of £90,000, leaving £410,000 for you." “There will be many businesses with assets worth millions of pounds – and these can be life-changing sums of money which could end up needlessly being taxed at the higher rate of 14%.” Chris added: “As of Friday, 15 November, there will be only 100 working days left until 5 April, which is a Saturday – it is going to be tight for many unless they act now as there are many compliance hoops to jump through. They don’t want to be on the wrong side of that date.”

Spirit of Gallo continues to grow its luxury spirits portfolio through a strategic partnership with Mezcal Derrumbes, becoming the brand’s exclusive importer in the United States. The announcement comes as the mezcal category has seen significant growth, reaching 803K cases in the U.S. last year*, and ISWR data projecting the category to grow 10% by 2027. Grown in the most biodiverse appellation in the world, Derrumbes represents a mezcal journey through the heart of Mexico. Each of the seven expressions in the portfolio highlight the unique terroir, flavours and styles of a different Mexican state where it was crafted. “The growth of the mezcal category is driven by consumer exploration and, with seven different expressions, Derrumbes offers a uniquely diverse portfolio,” said Britt West, Chief Commercial Officer Gallo Wine and Spirits. “This range, paired with their commitment to premium ingredients, authenticity and tradition, makes them the perfect addition to our portfolio.” Mezcal’s rise in popularity has also been fuelled by growing consumer interest in artisanal spirits and Mexican culture combined with an increased presence on cocktail menus. “As a family-owned brand, we have found the perfect partner in Gallo to help us, and all the mezcaleros families we know, continue to grow,” said Esteban Morales, Co-Founder of Derrumbes. “We look forward to expanding our distribution in the U.S. and putting many incredible mezcal regions on consumers’ radars.” The full Derrumbes portfolio includes three core expressions: Oaxaca, San Luis Potosí and Durango, and four small batch expressions: Michoacán, Zacatecas, Tamaulipas and Guerrero, ranging from an SRP of $39.99 to $99.99. For more information on Derrumbes, visit here .Spi *Source: Impact Databank 2019-2023 About Spirit of Gallo: Spirit of Gallo is the second largest spirits supplier in the United States by volume and represents some of the most iconic brands in the industry including: High Noon Hard Seltzer, New Amsterdam Vodka, E&J Brandy, RumChata, Camarena Tequila, RumHaven, Stratusphere Gin, The Dalmore Scotch Whisky, Tequila Komos, Don Fulano Tequila, Horse Soldier Bourbon, Amaro Montenegro and Condesa Gin. The entire portfolio is featured on www.spiritofgallo.com.