FBRF/PwC Panel Discussion on the Tax Contribution of Family Firms
30th October 2023
There are limited data to inform the public tax debate on the contribution of family businesses in the UK. Corporate income tax is the most visible tax when it comes to financial reporting and regulation, but many other business taxes are paid, such as employment and product taxes. In collaboration with PwC, the FBRF carried out a study to provide evidence to inform this debate. The full report is available here.
On 6th September 2023, PwC and the Family Business Research Foundation (FBRF) organised a panel discussion to discuss the findings from the report and the contribution that family businesses make to the UK public finances and to explore the implications of the study for our understanding of the contribution that family businesses make to the UK economy and society.
After an introduction from Hannah Harris, PwC UK Family Business leader, Andy Wiggins, PwC Total Tax Contribution Leader, gave an overview of the TTC study and discussed some of the headline results. This was followed by a panel discussion chaired by Susie Simpson, PwC UK Private Client and Private Office business leader. Participants in the panel discussion included:
• Sir James Wates, Former Chairman, Wates Group
• Fiona Graham, Director of External Affairs and Policy, Family Business UK
• Ewan Henderson, Group Tax and Company Secretary, William Grant & Sons
• Andy Wiggins, PwC