Robert Thomas responds to an article about family firms that will be hit by changes to the rules for inheritance tax
I am 83 next birthday and, so that my descendants escape the potential inheritance tax bill of £6m-plus, I’ll have to survive until October 2032 (‘Our plans could be derailed’: family firms say Labour tax rises will force fire sales, 16 September). My firm is property-based. In the event of an earlier demise, sites will require disposal within six months, cruelly affecting investment, growth and employment.
In my case the tax has turned into an ageist lottery. At the moment plans are afoot to rig up a life-support unit at home with an instruction to pull the plug on the appointed day, seven years hence. Any suggestions for relief, Rachel?
Robert Thomas
Chairman, Remarkable Pubs
Continue reading…Robert Thomas responds to an article about family firms that will be hit by changes to the rules for inheritance taxI am 83 next birthday and, so that my descendants escape the potential inheritance tax bill of £6m-plus, I’ll have to survive until October 2032 (‘Our plans could be derailed’: family firms say Labour tax rises will force fire sales, 16 September). My firm is property-based. In the event of an earlier demise, sites will require disposal within six months, cruelly affecting investment, growth and employment.In my case the tax has turned into an ageist lottery. At the moment plans are afoot to rig up a life-support unit at home with an instruction to pull the plug on the appointed day, seven years hence. Any suggestions for relief, Rachel?Robert ThomasChairman, Remarkable Pubs Continue reading…
