On Wednesday 19 March, chancellor of the exchequer George Osborne delivered his spring 2014 budget. With a particular focus on saving, it included changes to personal allowances that will be advantageous to all tax paying earners, dentists included.
In the budget the chancellor talked of giving support to businesses and of the need for higher investment. To support this, the annual investment allowance has been increased to £500,000 and will run to the end of 2015. Also within the budget the chancellor announced that he wanted to see businesses investing more, but there was little extra to actually encourage this. Historically, capital allowances have been used as a mechanism to persuade business owners to invest sums in their business but there was very little announced that will directly encourage extra investment.