Business rates relief

Hammond may raise rates relief Philip Hammond is said to be considering raising the threshold at which firms start paying business rates in next week's Budget. The Treasury is reportedly looking at raising the small business rate relief (SBRR) threshold to £20,000. The move would cost £1.4bn in lost revenue but experts say it is vital as business rates are forecast to rise by £730m in April. The chancellor is also considering changing the planning system to accelerate the conversion of empty shops into homes, as part of efforts to boost high streets and tackle the housing crisis.