Latest news with #Fothergill
Telegraph
20-05-2025
- Business
- Telegraph
Reeves's inheritance tax raid will destroy generations of honest work
In 1891, Jonathan Fothergill became the managing director of Pickerings Limited, one of the oldest engineering firms in the country. Six generations later, the business remains in the ownership and management of the Fothergill family, trading out of its original site on Norton Road, Stockton-on-Tees. But the future of that unbroken family connection suddenly seems much less assured. For nearly 50 years, qualifying businesses have been allowed to pass assets down the generations without incurring inheritance tax. Business Property Relief (BPR), introduced by a Labour government in 1976, was designed to reduce the tax burden on transfers of business assets – encouraging the continuity of family businesses. That is set to change, striking at the foundation of family firms such as Pickerings Limited. Under new rules being brought into effect from April 2026 by Rachel Reeves, full business rates relief will only apply to the first £1m of a business's assets upon the owner's death. Everything above that threshold will be subject to 20pc tax. This policy change has been branded 'myopic' by its critics. It might yield a one-off tax hit, but then what? 'Family businesses are now going to have to sell in order to pay the tax bill,' fears Kiran Fothergill, a descendant of Jonathan and director of Pickerings Lifts – as the company is now known – who stood as a Conservative candidate in the last general election. 'What we are going to end up with is businesses being sold to possibly foreign owners,' or corporations, with future revenues heading out of the country, into off-shore companies or other clever tax structures. And with that, 'any feeling for the community or the history is lost'. 'Family businesses have a completely different time horizon to corporates,' Mr Fothergill explains – investing years into a business, building up a community of customers and employees. Corporate short-termism would likely mean job losses with generations uprooted. 'This policy change is a fallacy,' Mr Fothergill tells me. 'It's going to cost us as a society, and the structural damage to the UK economy would be irreparable.' Lance Forman, the fourth-generation owner of H Forman and Son and a former Brexit Party MEP, agrees. His family has been curing and smoking fish in the East End of London since 1905. ' Family businesses are very, very different to corporations. They are profit satisfiers, not maximisers. As long as they make enough for the families to maintain the standard of living they are used to, they are satisfied.' 'We take the good years with the bad years,' he adds. This is one star difference between family businesses and corporations, where the primary motivation is profit maximisation within a relatively short time frame – often through higher prices and job losses. Is selling the only option? Tax professionals tell me the looming BPR changes are increasingly dominating discussions, especially at board level. Mr Forman is sceptical of effective tax planning options available to his family. 'One other option would be to invest in an insurance policy, itself at a huge cost. But that would be instead of investing in the business. Where is the sense in that?' 'There's no incentive to build the business up for the new generation, to build a business for the future.' The removal of tax relief is rarely a popular event, but the benefit to the wider society in some cases can outweigh the costs. It is difficult to view the proposed changes as anything but a political miscalculation which strikes at the heart of business – aspiration.
Daily Mail
30-04-2025
- Politics
- Daily Mail
Moment Tory canvasser removed Reform local election leaflet from homeowner's letterbox and replaced it with his own campaign flyer
A Reform candidate was left fuming when a video surfaced showing a Tory campaigner removing her leaflet from a letterbox and replacing it with his own. Maxine Fothergill's team had been pounding the pavements putting leaflets through doors after she decided to stand in the Kent County Council elections on May 1. But she was made aware of doorbell camera footage taken on Saturday April 19 which shows a rival Tory removing her pamphlet, shoving it in his pocket and then shuffling away. Simon Fawthrop can be seen on the footage going up to the door in a Union Jack T-shirt in what is thought to be New Ash Green in Kent. And he clearly removes the leaflet in question, before pushing a Tory one through the door instead. Cllr Fawthrop was part of a campaign team for Conservative candidate Penny Cole, who is standing for election to the Sevenoaks Rural North East ward alongside Ms Fothergill tomorrow. Cllr Cole has now apologised for what happened - and Cllr Fawthrop has taken to YouTube to defend his actions. He blasted the video as 'fake news' and said he had taken the leaflet away, but only because he wanted to read it. He claims he then returned with it later and put it back, something not seen on the film. And amazingly he then blamed Reform, saying: 'Well done to Reform for what they've done in terms of trying to fake something, which is really good. 'The incident is a lot longer than was shown on that video. 'There's another 30 seconds to a minute after that which shows that, yes I took a leaflet out, I was being nosy and wanted to read what it said, but I then put them back in. 'The reason they won't show you that is that they're trying to do fake news.' Cllr Fawthrop - a Conservative councillor on Bromley Council - challenged the homeowner to release the rest of the footage to prove him right. 'It will either show that I'm right, and I put it back, or it will be the most boring video that's ever been made,' he added. 'It's a challenge to Reform - you want to show you've got integrity, you want to show you're speaking the truth, so all you have to do is get hold of that person and get you to show the extra video. 'Man takes leaflet, puts it back, really it's not a story at all.' Voters will head to the polls on Thursday (May 1) to elect councillors in the Kent County Council elections. All of the 72 electoral divisions across the county, adding up to 81 county councillors in total, are up for election. Currently, the six seats in the Sevenoaks division are held by five Conservatives and one Lib Dem councillor. But it could be a night of gains for Reform, with several major issues giving candidates a boost. Ms Fothergill has become increasingly involved in politics after becoming disenchanted with other political parties. She lives in the Sevenoaks district hamlet of Fawkham, and stood for Old Bexley and Sidcup in the General Election last year, taking almost 22% of the vote, but losing out to Tory candidate Louie French. She now hopes to wrestle the Sevenoaks Rural North East county council ward from the Conservative party. Part of Ms Fothergill's appeal is that, as well as being local, she opposes plans for a huge solar farm on land between Fawkham and Horton Kirby. She said she was first made aware of the footage of Cllr Fawthrop on a Whatsapp chat group. She said: 'This is completely unacceptable. Not only is it underhanded and undemocratic, but removing items from a private letterbox may be a criminal offence. 'Smirking and treating the matter as if it's amusing is simply not on. He was caught red-handed, and he knows it. 'It's disappointing to see attempts to spin this and blame Reform UK. 'The individual acted improperly, and as a serving ward councillor in Bromley, he should know far better. This was electoral interference, plain and simple.' Cllr Cole has since apologised saying that the leaflet should not have been removed by Cllr Fawthrop. Sevenoaks Conservative Association released a statement on her behalf, saying: 'I want to be clear that I do not condone, nor have ever encouraged any of my volunteers who've helped me, to take opponents' leaflets from letterboxes. 'I have had a kind number of volunteers from around and outside the area come over to support me in my campaign, and I expect them all to act in a proper and professional manner. 'I have nonetheless written to Maxine directly, as a fellow candidate, to apologise for this incident, and she has accepted my apology.' A spokesperson for Sevenoaks District Council said: 'If an alleged electoral offence has taken place, the matter should be referred to the police.' Kent County Council has also been approached for comment.
Daily Record
23-04-2025
- General
- Daily Record
FREE Fothergill's Giant Sunflower Seeds with this great offer from Dobbies
Celebrate National Gardening Week with this great offer from Dobbies to get you growing this spring! As they celebrate 160 years of helping British gardeners to grow, we've teamed up with Dobbies Garden Centres and Fothergill's seeds to offer every reader the chance to grow their very own Giant Sunflower this summer. Pick up your Daily Record and Sunday Mail on Saturday 26, Sunday 27, Monday 28 or Tuesday 29 April 2025 to get your hands on this offer! Now is the perfect time to plant sunflower seeds and brighten up your garden in a matter of weeks, and experience garden living at its best. Pick up a free packet of Sunflower seeds from one of 53 Dobbies Garden Centres across the UK, while stocks last! To plant, all you need is 9cm pots, peat-free compost, bamboo canes and seeds. Simply sow a seed in each 9cm pot with peat-free compost. Start them off on a bright windowsill, planting outside once frosts have finished. Don't forget to water regularly. The brand-new Oh Sow Simple range from Fothergill's aim to make it as easy as possible for everyone to grow their own flowers, herbs and vegetables. And Dobbies' Green Team are always on hand to offer tips, advice and encouragement on how to grow your own. They also host FREE monthly Grow How sessions which are open to all. So don't miss out! Pick up your paper from Saturday April 26 until Tuesday April 29, 2025 to get your voucher and pop into your local Dobbies to pick up your free sunflower seeds, subject to availability.
Daily Mirror
23-04-2025
- General
- Daily Mirror
FREE Fothergill's Giant Sunflower Seeds with this great offer from Dobbies
Celebrate National Gardening Week with this great offer from Dobbies to get you growing this spring! As they celebrate 160 years of helping British gardeners to grow, we've teamed up with Dobbies Garden Centres and Fothergill's seeds to offer every reader the chance to grow their very own Giant Sunflower this summer. Pick up your Mirror on Saturday 26, Sunday 27, Monday 28 or Tuesday 29 April 2025 to get your hands on this offer! Now is the perfect time to plant sunflower seeds and brighten up your garden in a matter of weeks, and experience garden living at its best. Pick up a free packet of Sunflower seeds from one of 53 Dobbies Garden Centres across the UK, while stocks last! To plant, all you need is 9cm pots, peat-free compost, bamboo canes and seeds. Simply sow a seed in each 9cm pot with peat-free compost. Start them off on a bright windowsill, planting outside once frosts have finished. Don't forget to water regularly. The brand-new Oh Sow Simple range from Fothergill's aim to make it as easy as possible for everyone to grow their own flowers, herbs and vegetables. And Dobbies' Green Team are always on hand to offer tips, advice and encouragement on how to grow your own. They also host FREE monthly Grow How sessions which are open to all. So don't miss out! Pick up your paper from Saturday April 26 until Tuesday April 29, 2025 to get your voucher and pop into your local Dobbies to pick up your free sunflower seeds, subject to availability.
Yahoo
24-03-2025
- Sport
- Yahoo
22-year-old angler from Grand Rapids wins $300k in Bassmaster Classic
Grand Rapids native Easton Fothergill is the 2025 Bassmaster Classic Champion. The 22-year-old rookie angler won the $300,000 championship, the top prize in bass fishing, Sunday at the tournament on Lake Ray Roberts in Ft. Worth, Texas. Fothergill brought in a three-day total weight of 76 pounds, 15 ounces, which set a new record for the biggest winning weight in the 55-year history of the prestigious fishing tournament. The feat is especially remarkable after Fothergill suffered a life-threatening, infected brain abscess and underwent emergency surgery in August 2023. 'For all the kids out there dreaming about competing in the Classic, this is proof that it can happen,' Fothergill said in a news release from Yamaha. 'The college bracket is why I am here today. Dream big, work hard and anything is possible.' Fothergill earned an additional $20,000 over the weekend as part of the Yamaha Power Pay program.
