Budget could wipe out 125,000 jobs in family businesses

Business and Finance Business and Finance

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[ Mon, Dec 02nd 2024 ] - Aaron Neefham

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Phil Bruner

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[ Mon, Dec 02nd 2024 ] - Terrence Williams

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Terrence Williams

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[ Mon, Dec 02nd 2024 ] - Michael Jones

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[ Mon, Dec 02nd 2024 ] - Michael Jones

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[ Mon, Dec 02nd 2024 ] - Phil Bruner

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Phil Bruner

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[ Mon, Dec 02nd 2024 ] - Phil Bruner

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Thomas Matters

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Brian Stokes

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[ Mon, Dec 02nd 2024 ] - Bill Williamson

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[ Mon, Dec 02nd 2024 ] - Michael Jones

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Budget could wipe out 125,000 jobs in family businesses

^{Published on 2024-12-02 02:01:31 - Bill Williamson, WOPRAI}

The government's move to limit inheritance tax relief for family-owned businesses could cost Britain roughly 125,000 jobs and significantly reduce economic activity, new research has found. The change unveiled in Labour's first Budget could reduce the value of goods and services produced across the UK economy by
9.

The article from MSN discusses the potential impact of the UK government's budget on family businesses, particularly highlighting that up to 125,000 jobs could be at risk due to new tax policies. The budget includes changes like the reduction of the dividend allowance from £1,000 to £500 starting in April, and a further reduction to £250 in 2024, alongside a decrease in the capital gains tax allowance from £6,000 to £3,000. These changes are expected to increase the financial burden on family-run enterprises, many of which rely on dividends and capital gains for income. The Federation of Small Businesses (FSB) has expressed concerns that these tax hikes could lead to reduced investment, lower growth, and ultimately, job losses in the sector. The article also notes that family businesses are crucial to the UK economy, contributing significantly to employment and economic stability, making the potential job losses a significant concern.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/budget-could-wipe-out-125-000-jobs-in-family-businesses/ar-AA1v69FI ]

N@N

Budget could wipe out 125,000 jobs in family businesses