A Stockport insolvency expert has outlined what businesses need to know in the wake of this week’s Budget.
Chancellor Rachel Reeves finally delivered her much-anticipated financial statement on Wednesday after months of speculation – and it’s brought a mixed picture for those across the region.
Insolvency practitioner Molly Monks, founder of Bramhall-based Parker Walsh, has supported hundreds of businesses in times of financial distress.
And she’s shared her advice on what business owners should be aware of so they can efficiently reassess their strategies.
Capital Gains Tax
One significant shift relates to Capital Gains Tax relief for Employee Ownership Trusts (EOTs) – historically one of the most tax-efficient ways to sell or implement succession plans.
Mrs Monks said: “For business owners planning succession or looking at disposal routes, this move narrows one of the most tax-efficient exit mechanisms.
“It suggests the government is increasingly willing to revisit long-standing CGT reliefs, and that inevitably prompts directors to reassess their timelines.”
Combined with the planned rise in Business Asset Disposal Relief (BADR) from 10% to 14% in April 2026, owners may now consider accelerating restructuring or Members’ Voluntary Liquidations to maximise current reliefs.
Business rates
The chancellor also announced major reforms to business rates – a move positioned as a boost for high-street operators and frontline sectors grappling with cost pressures.
Mrs Monks said: “High business rates are one of the main concerns for SME owners, so this announcement will be welcome news – but for those with properties above the £500,000 limit the policy could see them struggle to pay the bills.”
