Tax raid on our family firm could be end of us

A MAJOR family business within the construction industry has warned it could be forced to sell up due to Labour's inheritance tax raid.

- By James Knuckey

GAP Group, which is the country's biggest family-run construction plant-hire firm, fears it will be slapped with a bill of £50million to £100million under new Government plans.

The firm supplies construction machinery across the UK, including to major national projects such as HS2. It employs 2,100 people across some 200 locations and its last pre-tax profits were £43.9million.

The Glasgow-based company was set up by current managing director Mark Anderson's grandfather in 1969 and passed down through the family.

From April 2026, Labour plans to cap the 100% tax relief for agricultural and business property, brought in to protect family businesses, at £1million, with 50% relief on assets over that.