With research revealing that UK business owners are likely to sell their company over fears that capital gains tax will increase dramatically, Alex Tremlett, commercial director of marketing data specialists, Insight Data, is exploring how this could impact the glazing industry.

A potential rise in capital gains tax is not what any business owner wants to hear. In fact, it could be the straw that breaks the camel’s back for some MDs who were already considering selling up within the next five years.

A survey conducted by wealth management and professional services group, Evelyn Partners, identified that 29% of business owners have accelerated plans for selling their companies within the last 12 months, and 23% of those made the decision because of the potential rise in capital gains tax.

While this investigation looks at business owners across the UK, I believe that MDs operating within the glazing sector will share the same concerns.

The last few years have been incredibly turbulent for the home improvement sector. After surviving the fallout of the Covid-19 pandemic, we were immediately hit with supply chain shortages and the cost-of-living crisis. Add increased capital gains tax into the mix, and it’s clear to see why some business owners would look to sell sooner rather than later.

Ultimately, the potential loss of experienced leaders due to tax concerns would be a blow to the glazing industry. These individuals bring invaluable knowledge, skills and investment which support the sector’s growth and stability.

However, amidst these challenges we must remember there is hope. The glazing industry is incredibly resilient and has successfully overcome many obstacles in the past. Change often brings opportunity and by investing in the right areas, businesses can not only weather the predicted storm but come out stronger than ever.