Budget 2014: UK firms get tax relief and export boost
Posted on 2nd April 2014 in
Help for firms to encourage investment and exports are among the measures for business announced by the chancellor.
The annual 100% tax allowance for investment has been doubled to £500,000 and will run to the end of 2015.
The amount of government credit available to support overseas sales has also been doubled, to £3bn, and the rate charged on that credit cut.
The government wants UK exports to reach £1 trillion by 2020, and for 100,000 more UK companies to be exporting by 2020.
The annual limit on business investment tax relief currently stands at £250,000, but was due to fall back to £25,000 from the beginning of 2015.