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Budget analysis – SMEs

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While the Budget might be seen by most as doing little more than confirming measures that have already been announced or tackling exotic anti-avoidance schemes, SMEs and their owners might be thankful to the Chancellor. In addition to extending the Time to Pay rules, which allow scheduling of tax liabilities, he has extended the limits on two measures that will be particularly welcome to those in smaller businesses. First, he has doubled the limit for Entrepreneurs' Relief to £2 million and second, doubled the Annual Investment Allowance, which gives a 100% capital allowance, to £100,000, both measures taking effect from this April.

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