Tag: andy burnham

FBUK responds to Business Rates cut for pubs

Posted on by Vanessa Barrett

The Government has announced plans to cut Business Rates by 20% for pubs, clubs and some live music venues in England from April 2027. The measure is expected to save a typical pub around £1,100 a year, with approximately 32,000 businesses set to benefit.

Commenting on the announcement, Family Business UK CEO Neil Davy said:

“It is encouraging that the Government has recognised the pressure business rates are placing on firms at the heart of our communities. This move will provide some welcome relief for pubs and other venues which are the focus of thousands of communities across the country.

“However, this will only go some way towards addressing the enormous cost increases these businesses are facing elsewhere in their business – such as employment costs.

“While it is a welcome step, this is a targeted relief that will not apply to many family-run hotels, retailers and other high-street firms that have been equally hit by increases in Business Rates.

“Family Business UK has made a clear case for a fundamental redesign of Business Rates to create a progressive system that reduces regional disparities, incentivises investment and treats all businesses fairly – whether they are family-run, bricks-and-mortar businesses or out-or-town warehouses.

“We look forward to working with government to design a system that works for everyone.”

Family firms want new prime minister to reverse Inheritance Tax changes and tackle soaring business costs

Posted on by Vanessa Barrett

Britain’s family businesses want the new Prime Minister to use his first 100 days in office to reduce the cost and complexity of doing business and reverse changes to Inheritance Tax, according to new data from Family Business UK. 

According the research, more than half (55%) of large family businesses1, and 45% of all family firms, want the new Prime Minister to address falling confidence, investment and employment by reversing the changes to BRP and APR, and rule out increasing other taxes on business ownership, succession and investment (in particular Capital Gains Tax and Corporation Tax). 

The poll of almost 500 UK family businesses2 also found; 

  • 38% of large family firms want action to reduce energy costs, 
  • 34% of medium and large family firms want to see a reform of business rates to support investment and growth, 
  • 30% of medium and 34% of large family firms want action to cut the burden of additional administration and compliance, 
  • 29% of medium and 34% of large family firms would like to see the early publication of a credible plan for growth and investment, 
  • 25% of smaller family businesses3 want action to cut employment costs and taxes. 

Neil Davy, CEO Family Business UK said: “With his pledge to be a pro-business leader, the first 100 days in office offer the new Prime Minister a golden opportunity to embrace the power and scale of Britain’s family business sector and give firms confidence to invest and grow for the future. 

“Central to that are the changes to Inheritance Tax reliefs. That single policy change continues to present a material challenge to Britain’s family businesses and serve as a drag on both growth and employment across the country as firms pull back on investment. 

“Our latest insights send a clear message to the new administration to reverse this policy change and end speculation by making an early commitment to rule out additional tax rises on business ownership, succession and investment. 

“These two steps would give family business owners renewed confidence that this administration is prepared to work with, and not against them.  

“But the challenges faced by family businesses go beyond inheritance and other ownership taxes. As our research shows, high energy costs and the incremental rise in business taxes and regulation are strangling the very firms the government needs to deliver a growing economy. 

“The new Prime Minister’s plans for greater devolution and place-based growth should prioritise family businesses and put them at the heart of that mission. They are an economic powerhouse in every part of the country. Built around a long-term vision, a commitment to people and local communities, and a willingness to invest over decades, they will be critical partners in delivering the regional growth and investment the Prime Minister wants. 

“It’s what sets family businesses apart and makes them one of this country’s greatest economic assets. Government policy, led by the new Prime Minister, must reflect that.”