estate taxes

UK family business sustainability underwritten by inheritance tax

June 7, 2019

Sustainability, growth and jobs are at stake when the issue of UK family businesses and inheritance tax flares up, say sector experts.

Sustainability, growth and jobs are at stake when the issue of UK family businesses and inheritance tax flares up, say sector experts.

Tax Justice UK’s new research released this week said the British government was handing out up to £666 million ($849 million) a year in inheritance tax reliefs on land and business property to families who were already well off.

Death, families and taxes

March 1, 2004

More and more heirs to small family businesses will find themselves forced to sell those businesses to pay estate taxes, a new report from the Heritage Foundation suggests.

Scott McCulloch is Editor of Families in Business magazine.

More and more heirs to small family businesses will find themselves forced to sell those businesses to pay estate taxes, a new report from the Heritage Foundation suggests. The estate tax exemption – the amount below which estates are not taxed – has not changed since 2001, when it was set at US$675,000. And $675,000 "does not a rich man make in 2004," says Gary Robbins, a visiting fellow in Heritage's Center for Data Analysis.