Companies are facing changes to the way their tax bills work from the start of April (Alamy/PA)The Government-owned British Business Bank has revealed its annual profits have tripled after benefiting from a jump in the valuation of its investments. The UK's economic development bank, which lends money to and buys stakes in smaller UK businesses to help them start and grow, is also set to be boosted by supporting the Government's industrial strategy. This was driven by an increase in the valuation of its investments in funds and businesses. The British Business Bank, which gets funding from the Government's Department for Business and Trade (DBT), said the increase points to its ability to generate returns for UK taxpayers. Meanwhile, the bank has been allocated extra funding to support the Government's industrial strategy and invest in priority sectors such as clean energy, defence, life sciences and financial services.