Spring budget

It had a particular focus on saving, it included changes to personal allowances that will be advantageous to all tax paying earners, dentists included. 

Nicholas Baker is head of business mortgages at Christie Finance, he discusses the 2014 Budget announcement and considers the effect this will have on the dental market.

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 £500k 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 that will directly encourage extra investment.

The budget did not include what some would see as much-needed improvements to the business-lending environment. ‘Funding for Lending’ currently encourages lending to small businesses, either by way of reduced rates, ‘cash-back’, or fee free loan facilities, and a more decisive move from the chancellor would have been to extend the breath of the scheme.