Britain's Healey plans income tax on family business transfers, Telegraph says

British ​finance minister ‌John Healey is ​drawing up plans to charge ‌income tax on transfers of family businesses to the next generation ahead ‌of the October 28 budget, the ‌Telegraph newspaper said on Sunday.

Transfers of family businesses can now be ⁠structured ​so ⁠they attract capital gains tax, which is ⁠charged at a lower rate. “As has ​always been the case, decisions ⁠on tax are a matter for the ⁠Chancellor ​to set out at fiscal events, rather than routinely ⁠commenting on rumour, speculation or proposals,” ⁠a Treasury ⁠spokesperson said.