A festive U-turn – and a reminder that business has a voice

It’s not every day that tax news feels like an early Christmas present, but the Government’s U-turn on inheritance tax changes has landed at a particularly fitting time of year.

After widespread concern from business owners, advisers and families alike, the decision to row back sends a clear and welcome signal: good business sense still matters, and when the case is made clearly and collectively, it can be heard.

Inheritance tax is never an abstract issue. For many entrepreneurs and family businesses, it’s bound up with long-term planning, investment decisions and the ability to pass something meaningful on to the next generation. The proposed changes risked creating uncertainty at a time when confidence is already under pressure. The reversal removes that immediate cloud and gives families space to plan with greater clarity.

The timing matters too. As we head into the festive period, this is genuinely good news for many business owners who will be sitting around the table with family, reflecting on the year gone by and the future ahead. Certainty, even in a small dose, goes a long way.

Perhaps the most important takeaway, though, is the wider lesson. This U-turn is proof that engagement works. When businesses, professional advisers and representative bodies speak up with evidence and real-world examples, policymakers do listen. It’s a reminder that constructive challenge isn’t about noise – it’s about credibility.

At HURST, we’ve always believed that sensible policy is built on understanding how businesses actually operate, not how they look on paper. This decision reinforces that belief and underlines the value of an active, informed business community.

For now, it’s a positive end-of-year development – and one worth acknowledging. Sometimes, the system does respond. And that, in itself, is worth celebrating.