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Institute for family business

Law firm warns of UK impact from German IHT ruling

December 22, 2014

A court ruling in Germany making tax breaks and exceptions on inheritance for family businesses illegal may cause concern in the UK, a British law firm has warned.

A court ruling in Germany making tax breaks and exceptions on inheritance for family businesses illegal may cause concern in the UK, a British law firm has warned.

New chair appointed at UK family business organisation

May 1, 2014

The non-family chairman of an international facilities management company has been appointed chairman of the Institute for Family Business (IFB).

The non-family chairman of an international facilities management company has been appointed chairman of the Institute for Family Business (IFB).

Peter Armitage, who has been the chairman of OCS Group since 2005, will take up the IFB chairmanship in June. He joined the company in 1979, and became managing director of OCS International in 2001.

During that time the company has transformed from a largely UK-based business to a group operating in 40 different countries.

Family businesses need govt support to help recovery, FBN Summit hears

October 5, 2012

The British government should roll out the red carpet to make the UK a “dynamic global hub” for family businesses.

That’s according to Ross Warburton, chairman of the Institute for Family Business and an executive director at his family’s bakery company, who was speaking at the ongoing Family Business Network International Summit in London.

Family businesses can play a leading role in the UK’s future growth

March 27, 2012

Forcing the sale of family businesses would push many into the hands of owners who would simply cut factories and jobs with a knock-on effect on our communities. Such a policy would be an own goal, writes the IFB in response to Professor John Van Reenen.

There has been some debate over whether family businesses are pulling their weight when it comes to providing the growth needed to drive the UK economy forward.

Parent/child succession is a disaster, says top professor

March 24, 2012

Family businesses are “not as effective in terms of management and productivity”, and government policies that encourage them should be scrapped.

That’s according to Professor John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, who told CampdenFB that having policies that help businesses to pass management on the next generation is “usually a big mistake”.

UK Budget 2012 - “a sting in the tail”

March 21, 2012

British residential property worth more than £2 million (€2.4 million) will be subject to a new 7% stamp duty charge, while a 15% levy will apply to such properties brought via a company.

These were among the measures most likely to affect the very wealthy in the UK that were announced as part of Budget 2012.

Described as “a real sting in the tail” by Sophie Dworetzsky, partner in the wealth planning team at international law firm Withers, the 15% stamp duty charge is widely seen as an attempt to crack down on tax duty avoidance.

Want responsible capitalism? Then remove debt finance bias

March 13, 2012

The British government needs to remove the bias towards debt finance and make the corporate tax regime neutral if a culture of responsible capitalism is to develop.

That’s according to lobby group the Institute for Family Business, which said the current tax system is undermining the efforts of family businesses in the UK to plan for the future and finance growth.

Interests not just skills matter for next-gens

February 29, 2012

Next-generation members need to realise that it is not just their skills that matter when it comes to joining the family business, according to a British lobby group.

Commenting as the Institute for Family Business launched a new initiative to stimulate growth in the UK’s family business sector, the organisation’s director general, Grant Gordon, said next-gens should seek outside work experience to figure out if they are suited to their family’s company or other businesses.

Family businesses vital to UK economic growth

February 27, 2012

Family businesses are the backbone of the UK’s economic recovery and as drivers of “enterprise, entrepreneurship and commerce” should not be underestimated.

That’s according to the UK-based Forum of Private Business, a lobby group for small and medium-sized enterprises, which has teamed up with management consultancy Steuer Gregsson to offer special services to family-owned groups.

Gauke: UK govt won’t remove inheritance tax relief for family businesses

February 8, 2012

The British government doesn’t plan on changing inheritance tax support for family businesses, despite a recent report from one of the country's top universities recommending the removal of business property relief.