Forecourt operators should follow the example of Britain’s farming community which descended on Whitehall in hundreds of tractors on Monday to protest the government’s inheritance tax changes, says the PRA.
However, its chief executive Gordon Balmer is not encouraging petrol station owners to take to the streets. Instead, he says, they should take part in a survey he hopes will demonstrate that other family-dominated industries could be as badly affected by the proposals as agriculture.
The PRA is teaming with Family Business UK and says the more members who fill out the survey, produced CBI Economics, the stronger a case they will be able to make to the government.
The government’s plans, to be introduced from April 6 next year, will see 20% inheritance tax charged on transfers of qualifying business and agricultural property worth more than £1 million.
“The Farmers’ protests show how deeply unpopular the government’s inheritance tax proposals are,” says Balmer. “These changes are more dangerous and wide-ranging than you might initially believe and will impact any family business worth more than £1 million. This means that it could well impact many forecourts across the independent sector.”
He adds: “The PRA is working to demonstrate the harm that these proposals will do to the independent forecourt sector, and as a consequence, the threat to the UK’s fuel resilience as a whole.
“I would strongly encourage all PRA members to participate. Your insights will help us advocate on your behalf and present a credible and compelling case to government: the Treasury, the Department for Business and Trade, MPs, and other stakeholders as to why these changes to business property relief and agricultural property relief must be reconsidered.”
Forecourt operators have until March 2 to complete the survey, which takes 10 minutes, at https://www.surveymonkey.com/r/3VJZ2TT
