The government will offer business rates relief for "green" property improvements, chancellor Rishi Sunak revealed in his Budget on Wednesday.
The chancellor said such green property improvements included the likes of solar panels, while it is expected heat pumps and increased office ventilation will also full under the exemption. During his speech Sunak said: "We are clear: reckless, unfunded promises to abolish a tax that raises £25bn are completely irresponsible." That is why, he added, the government would retain business rates with "key reforms". "From 2023 every single business will be able to make property improvements and pay no more in business rates for 12 months," he said. "Together with the green investment relie...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes