“A Budget to Support Growth”

The reduction in corporation tax for larger businesses should help encourage them to remain or relocate to the UK and we can only assume that if the measures introduced in the Budget promotes inward investment in this way then it will ultimately have a knock on effect for the smaller and medium sized businesses who disappointingly were not directly assisted by tax or red tape reductions in yesterday’s speech.

Previously announced incentives to invest in Research and Development increasing the rate of relief to 225% of qualifying expenditure from April 2012 have been reconfirmed and we should look to make use of this tax credit wherever possible.

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