Many businesses could benefit from some of the measures introduced in the Budget, according to independent chartered accountants WBV Ltd.
The firm, which has offices in Neath and Swansea, says George Osborne’s “Budget for a Resilient UK” outlined a number of new measures, while also welcoming significantly improved growth forecasts, with the UK economy expected to grow by 2.7% in 2014.
Although the surprise announcement that the Annual Investment Allowance (AIA) for capital expenditure has been doubled from £250,000 to £500,000 will not affect most small and medium-sized businesses, those with heavy capital investment plans will be cheered and the vast majority of businesses will now get 100% up-front relief on qualifying investment in plant and machinery.