Commons Sense

House of Commons · Ministers' Questions

Business Property Relief: Family-owned Businesses

Tuesday 28 April 2026 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 1 Not answered 0

Key points

  • The reforms to business property relief maintain significant relief for owners of business assets, which is more generous than at any time under Margaret Thatcher.
  • Perran Moon raised concerns about a significant increase in property costs for small family businesses in Cornwall due to changes by the Valuation Office Agency.
  • The Minister offered to meet Perran Moon to discuss the issue affecting businesses in Cornwall.

Topics (select to filter)

Questions & Answers

Q1 Peter Fortune Con Bromley and Biggin Hill
Business & Trade
Context

Recent reforms to the business property relief scheme have raised concerns about their impact on family-owned businesses.

Question

What assessment has been made of the potential impact of recent changes to business property relief on levels of investment by family-owned businesses?

Answer from Dan Tomlinson

The reforms to business property relief maintain significant relief for owners of business assets. That is beyond what is available to others and is more generous than at any time under Margaret Thatcher, when the rate of relief was a maximum of 50% on all business assets, including the first £2.5 million.

Partly answered

Not addressed: The specific impact on investment levels by family-owned businesses was not addressed

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Q2 Perran Moon Lab Camborne and Redruth
Taxation Business & Trade Local Government
Context

A decision by the Valuation Office Agency to reclassify serviced offices, business centres, and co-working spaces will lead to increased property costs for hundreds of small family businesses across Cornwall.

Question

Hundreds of small family businesses across Cornwall will soon be subject to a significant increase in their property costs as a result of the Valuation Office Agency's decision to reclassify serviced offices, business centres and co-working spaces. Will the Chancellor arrange for me to meet Treasury officials and the VOA to discuss how the impacts of that reclassification may be mitigated?

Answer from Dan Tomlinson

I thank my hon. Friend for his question. I am aware of the issue that he raises; I have met representatives of the sector in recent weeks to discuss it. It follows changes to case law over recent years, but it is of course an important issue that affects many businesses. I would be happy to meet my hon. Friend to discuss it.

Answered
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