Business
West Wales family firms warn of tax reform impact
Calls for rethink as Government insists changes will make inheritance system ‘fairer’
FAMILY-RUN businesses across West Wales have warned that hundreds of local jobs could be at risk if the UK Government presses ahead with inheritance tax reforms due to take effect next year.
The draft legislation — set to cap Business Property Relief (BPR) and Agricultural Property Relief (APR) from April 2026 — has prompted concern among family firms in construction, farming and engineering.
According to analysis by Family Business UK (FBUK), the reforms could result in the loss of around 750 jobs and wipe out up to £43 million in local economic activity across South-West Wales, including Pembrokeshire, Carmarthenshire and Swansea.
Local businesses raise concern
Family-owned companies say the reforms could force business owners to sell land or machinery just to meet tax bills when passing firms to the next generation — potentially stifling investment and hitting rural jobs.
Steven Mulholland, Chief Executive of the Construction Plant-hire Association (CPA), said “These aren’t just numbers on a balance sheet — they threaten real jobs, real businesses, and the supply chains the UK depends on.
If Labour is serious about delivering growth and building 1.5 million homes, it must back the family-run firms doing the heavy lifting. Stripping away Business Property Relief will undermine the very businesses we need to build Britain’s future.”
Many of the affected firms are based in rural areas, where family-run builders, plant-hire companies and agricultural suppliers form the backbone of the local economy.
Treasury defends the move
The Treasury insists the reforms are intended to make the system fairer and more sustainable.
A Government spokesperson said the aim was to “support smaller family businesses and farms while closing loopholes that benefit only the largest estates.”
Under the new structure, the first £1 million of qualifying business or agricultural property will still receive full relief. Assets above that threshold will attract 50 per cent relief, meaning tax will apply to only half their value.
Ministers argue that most small and medium-sized family firms will remain fully protected, while very large inherited estates will contribute more in line with other forms of wealth.
Tax advisers note that businesses will still be able to spread Inheritance Tax payments over ten years to protect cash flow — a measure designed to ease pressure on family firms.
What happens next
The Autumn Budget, expected next month, is seen as the Government’s last opportunity to amend or delay the proposals before they become law.
Business groups say the coming weeks will show whether ministers are willing to reconsider, while supporters of the reform argue that after decades of overly generous reliefs, a fairer balance is long overdue.
Business
Eight-year prison sentence after vehicle stop uncovers drugs worth over £150,000
A ROUTINE vehicle stop by roads policing officers has led to an eight-year prison sentence after more than £150,000 worth of illegal drugs were discovered in a car in Pembrokeshire.
On Friday, January 2, officers from the Roads Policing Unit stopped a grey Seat Ateca on Hoyland Road, Pembroke. The vehicle was being driven by 43-year-old Dean Evans.
During the stop, Evans told officers they would find “stuff” in the car. He and the vehicle were subsequently searched under the Misuse of Drugs Act.
A search of the boot uncovered a cardboard box containing a one-kilogram block of cocaine and ten half-kilogram packages of herbal cannabis. The street value of the drugs was estimated to be well in excess of £150,000.
Evans was arrested at the scene on suspicion of possession with intent to supply controlled drugs. He was later charged with possession with intent to supply Class A and Class B drugs.
The 43-year-old pleaded guilty at Swansea Magistrates’ Court on Saturday, January 3.
On Thursday, January 28, Evans was sentenced at Cardiff Crown Court to eight years’ imprisonment for possession with intent to supply cocaine and cannabis.
DC Jones, from Dyfed-Powys Police’s Serious Organised Crime Unit, said: “Tackling the supply of illegal drugs is a priority for Dyfed-Powys Police, and the misery that illegal drugs bring to local communities will not be tolerated.
“We welcome the sentence passed to Dean Evans, given the large quantity of harmful drugs he was caught trafficking into Pembrokeshire.
“This sentence should serve as a stark warning to anyone tempted to become involved in the illegal drugs trade in Dyfed and Powys.”
Business
Councillor condemns closure of Haverfordwest Santander branch
A PEMBROKESHIRE councillor has spoken out after learning that the Santander branch in Haverfordwest is set to close later this year, warning the decision will have a serious impact on local residents, families and businesses.
The bank’s Bridge Street branch is due to close on Monday (May 5) as part of a wider UK restructuring programme.
Councillor Thomas Baden Tudor said he was “lost for words” and urged the bank to reconsider, describing the closure as devastating for customers who rely on face-to-face services.
Santander says the decision is driven by declining footfall, with more customers banking online, and that services will remain available via digital platforms and Post Office counters.
However, the announcement follows a steady erosion of high-street banking in Pembrokeshire. The Herald recently reported that Haverfordwest’s former Halifax branch is set to reopen as a nail salon.
In what appears to be a serious failure of planning, there is now not a single bank branch left anywhere in south Pembrokeshire. Towns including Tenby, Pembroke and Pembroke Dock are all without face-to-face banking facilities.
North Pembrokeshire has also been affected, with Fishguard and St Davids now lacking bank branches.
Pembrokeshire is understood to be left with just four bank branches in total — Nationwide in Milford Haven, and HSBC, NatWest and Lloyds Bank in Haverfordwest.
Business
Bluestone celebrates King’s Award for Enterprise at official ceremony
Pembrokeshire resort recognised as UK leader in sustainable tourism
BLUESTONE NATIONAL PARK RESORT has formally received The King’s Award for Enterprise in Sustainable Development, marking a major milestone for the Pembrokeshire-based resort.
The prestigious honour — the UK’s highest business award — was presented during an official ceremony at Bluestone’s Serendome by His Majesty’s Lord-Lieutenant of Dyfed, Miss Sara Edwards. It recognises Bluestone as the first holiday resort in the country to receive the award for sustainable development.
During the visit, the Lord-Lieutenant met founder and chief executive William McNamara, director of sustainability Marten Lewis, staff members and invited guests, while also learning more about the resort’s long-term environmental strategy and its relationship with the local community.
The award follows an extensive assessment of Bluestone’s environmental, social and economic performance. Judges highlighted major progress in reducing carbon emissions, the resort’s move to a fossil-fuel-free operation for all purchased energy — a first for a UK holiday park — and its adoption of circular economy principles. Bluestone was also praised for its support for the local economy, its work to protect and enhance wildlife, and an internal culture where sustainability is shared across the organisation. Around thirty per cent of the business is staff-owned.
Speaking at the ceremony, Miss Edwards said: “It was a great pleasure to present Bluestone with The King’s Award for Enterprise and to see first-hand the work they are doing. The team’s passion for sustainability and their commitment to protecting the local area in Pembrokeshire shone through during my visit. Bluestone’s work is having a positive and lasting impact, and they should be extremely proud of what they have achieved.”
The recognition comes at a time when the tourism sector is under increasing pressure to balance growth with environmental protection, as travellers place greater emphasis on sustainable destinations.
Marten Lewis, who has led Bluestone’s sustainability strategy, has been central to developing what the resort describes as its “operational blueprint” — combining environmental protection, community partnerships and local economic support. He has also represented Bluestone nationally and was recently congratulated in person by King Charles III at a reception for King’s Award recipients.
Reflecting on the achievement, Mr Lewis said sustainability was fundamental to the way the resort operates. He added that the award recognised years of collective effort across the business and would act as a powerful incentive to continue pushing standards higher.
Chief executive William McNamara said the award reflected a long-standing commitment to responsible tourism. He said that as travel continues to evolve, businesses have a growing duty to protect the places people come to enjoy, adding that national recognition of Bluestone’s approach was a moment of pride for the entire team.
Formerly known as The Queen’s Awards for Enterprise, the programme was renamed following the accession of King Charles III. Since its launch in 1965, more than 8,000 UK businesses have been recognised for outstanding achievement.
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