Labour has been accused of learning nothing from its farm inheritance tax fiasco as family firms were put on alert for a possible Budget raid.
Chancellor John Healey could try to raise cash by targeting rules which are often used to pass businesses down to the next generation, according to reports.
Entrepreneurs wanting to retire can currently convert their holdings in a firm into ‘redeemable shares’, which are then bought back with the company’s profits.
The proceeds are at present subject to capital gains tax, which is 24 per cent for higher rate earners. But Mr Healey is said to be looking at
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