Chancellor John Healey is drawing up plans to charge income tax on transfers of family businesses to the next generation, the Telegraph reported on Sunday 18 October.
The report, relayed by Reuters, describes a plan under consideration ahead of the Budget on 28 October. It does not describe a decision.
The Treasury has not confirmed the report. Until the measure appears in the Budget statement or is confirmed by the Treasury, it should be treated as a reported proposal only.
Details of how the charge would work and how much it would raise have not been confirmed, and claims circulating online about the rates involved have not been independently checked.