Inheritance Tax Threatens UK Family Firms

The new tax year has quietly begun, bringing a devastating blow to UK family-owned businesses. Following the government's maiden budget, inheritance tax will now be levied on family business shareholdings exceeding £2.5 million. Discover why this staggering 20% tax charge could force the breakup or sale of iconic British companies simply to foot the massive bill. We reveal how prominent figures like Sir Rocco Forte of Rocco Forte Hotels are warning that parts of their empires would have to be sold off to survive. City AM's Head of Video, Audio and Social gets the latest from Ali Lyon, Chief Reporter [00:00] New UK tax year triggers family business crisis [00:48] Government thresholds raised to £2.5 million after backlash [01:16] Why low-profit companies face impossible 20% tax bills [02:47] Sir Rocco Forte warns of massive hotel sell-offs [03:41] Global Brands founder pulls factory investment to avoid tax [04:48] Deliberately halting UK business growth to lower bills [05:46] Foreign investors buying UK firms and Treasury revenue risks Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam