Tax changes threaten family holiday parks

One park owner warns inheritance tax changes could force selling part of the business.

Tax changes threaten family holiday parks

Ian James, who runs Coast and Country Holiday Parks, says the inheritance tax changes announced last autumn are a challenge for family firms in his sector. He fears that to pass the business to his son they may need to sell some parks to meet the tax bill. The government says most estates claiming business property relief will be unaffected and that proceeds will fund public services.

Experts warn the policy adds complexity to succession planning for small firms. Industry groups say the changes could affect jobs and local tourism if family ownership becomes harder to sustain.

The policy shift shows how tax design can shape family firms more than headlines suggest. When a business spans generations, the tax clock changes and plans for the future face new pressures.

The risk goes beyond wealth transfers. Families often invest in local jobs and visitor experiences. If policy drives asset sales or restructuring, towns could feel the cost through fewer parks and less local hospitality.

Highlights

Policy makers may need to balance revenue with the resilience of local businesses.