Pictured above: Rob Gunn, tax director at RSM Tenon's Birmingham office

In the weeks running up to the Budget, the Chancellor declared that this would be a Budget for 'Growth, Enterprise and Aspiration' - so was he right?

It was certainly aspirational, as much of what George Osborne said was very positive about the future.

There was much encouragement for businesses - the introduction of the Enterprise Zone Plan came as no surprise given that the Chancellor himself alluded to it a few weeks ago. Twenty-one zones are to be created in England and these will be backed by tax incentives. The doubling of Entrepreneur's relief to £10m and the increase to R&D tax credit reliefs for SMES are also extremely welcome announcements.   

The recently formed Office of Tax Simplification had a big influence over this year's Budget with many of the recommendations set out in their report being endorsed. There are proposals for a radical overhaul of many parts of the tax system - not least income tax and national insurance, and what will now follow is a long consultative process throughout which RSM Tenon will be representing the views its clients.

Combating tax avoidance continues to be a big focus for the Government. The disguised remuneration legislation has being confirmed as coming in from 6 April 2011 and there will be much analysing of the small print to establish the extent to which they have listened to the representations made during the consultation period.

The proposed increases in personal allowances and National Insurance were confirmed but will result in all but the lowest paid being worse off.  

Rob Gunn, tax director at RSM Tenon's Birmingham office, said: 

"The 'rabbit out of the hat' had to be that not only has the planned fuel duty rise has been postponed, but it has been cut by 1p. This is a positive indication that the Government recognises the important role that SMEs play in helping the country out of the current economic situation, and which will ultimately see the prevention of a double dip recession.

"We welcome other incentives for businesses and entrepreneurs which include the extension of the Enterprise Investment Scheme, and we hope that the small print also relaxes and simplifies what is currently an area fraught with traps.  

"We can't help but feel a little stunned that it was such a good news Budget, and we wonder where the catch is - no doubt buried somewhere in the small print which we are currently scrutinising.