Bosses set to offload firms to offspring sooner due to Labour tax raid
One in five business owners plans to hand their company over to their children within five years to avoid Labour's inheritance tax raid on family firms.Research by accountancy group Moore UK found 19 per cent of entrepreneurs are looking to pass on their firms before they die to reduce their tax bill. But Moore UK boss Mark Lance warned this could 'backfire' if businesses are passed on to children who are not yet ready to run them. Money grab: Chancellor Rachel Reeves plans to hit family firms and farms with a 20 per cent inheritance tax charge for the first time from AprilChancellor Rachel Reeves plans to hit family firms and farms with a 20 per cent inheritance tax charge for the first time from April.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Bosses set to offload firms to offspring sooner due to Labour tax raid
