Sector insight: Family Business

Sector insight: Family Business

If the Budget is for “Makers, Doers and Savers”, what does it mean for Family Businesses?

Head of Family Business Consulting

KPMG in the UK


Also on

Young Woman and her Son and Daughter Sitting

It was hailed as a Budget for "Makers, Doers and Savers" by the Chancellor so now that the dust has settled a bit, what does it mean for Family Businesses?

Here are some key points for Family Businesses announced in the Budget:  

  • Doubling of the Annual Investment Allowance to £500,000 
  • Increase in the rate of R&D tax relief for loss making SMEs to 14.5% 
  • A package aimed at cutting energy bills for British manufacturers 
  • Fuel duty rise planned for September will not happen 
  • Enhanced export finance package to help target overseas markets 
  • Increase in personal tax allowance to £10,500 from April 2015 
  • Cash and shares ISA to be merged into single ISA 
  • Major and radical changes to accessing pension savings  

For more information, read our Budget Family Business alert (PDF 168 KB) or download KPMG’s general commentary on the 2014 Budget Report (PDF 1.3 MB). 

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

Connect with us


Request for proposal



KPMG’s new-look website

KPMG’s new-look website