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UK Raises Small Business Rates Threshold

British finance minister John Healey announced plans to raise the small business rate relief threshold from 12000 to 18000 pounds. The tax change will exempt 70000 commercial properties from paying business rates entirely.

Britain's Chancellor of the Exchequer, John Healey, holds up the traditional red ministerial box outside No 11 Downing Street before departing to the House of Commons to deliver the first budget under Prime Minister Andy Burnham's government, in London, Britain, October 28, 2026. REUTERS/Jack Taylor

United Kingdom finance minister John Healey raised the small business rates threshold from £12,000 to £18,000 ($15,900 to $23,900). The adjustment exempts 70,000 commercial properties from the local taxation system. The announcement formed a central pillar of the autumn budget presented during Wednesday afternoon's parliamentary session.