{
  "id": 15621075,
  "title": "‘Disaster’: Advisers raise the alarm on family business tax raid",
  "url": "https://urgent.news/2026/10/19/disaster-advisers-raise-the-alarm-on-family-business-tax-raid",
  "topic": "world",
  "section": "World",
  "published": "2026-10-19T15:11:04.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/disaster-advisers-raise-the-alarm-on-family-business-tax-raid/"
  },
  "original_language": "en",
  "account": "Chancellor John Healey's proposed tax changes to family businesses could potentially devastate the next generation and harm the economy, according to advisers. The government is considering taxing income when business owners pass their companies to their children, which could nearly double the financial burden. Currently, transfers can be structured to lower capital gains tax rates, but Healey aims to boost revenue in his first Autumn Budget. Tim Stovold, head of tax at Moore Kingston Smith, stated that implementing the proposals would make it significantly more challenging for business owners to pass their companies to the next generation without substantial tax implications. Investment attraction and economic impact are major concerns, with Andy Oury, tax partner at Oury Clark, warning that it would damage the UK's investment appeal and discourage business building. Chris Etherinton, tax partner at RSM UK, suggested that owners might need to consider alternative options for transferring their businesses, such as structuring a sale to a family member in a similar manner to a management buy-out. Nicholas Smith, head of tax at Duncan & Toplis, emphasized that farming families and other asset-rich businesses would be particularly vulnerable to the proposed changes, as they already face significant financial pressures.",
  "summary": "John Healey’s potential tax raid on family businesses could make handing down companies to the next generation a “disaster” and damage the economy, advisers have warned. The Chancellor is reportedly considering proposals to levy income tax when business owners hand down to their children, potentially almost doubling the bill. Under current rules, transfers can be [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}