Necessarily a muted Budget, as the Chancellor had little room for manoeuvre, but there were a couple of surprises to keep us interested!

National Insurance £2,000 Credit - from April 2014

Giving a £2,000 credit from April 2014 against employer's national insurance is a welcome initiative which may encourage small businesses to take on some staff.

This is a one off tax relief within the new SEIS introduced in March's Budget.

If you have recently exchanged, or expect to before the end of the tax year, eg on a buy-to-let property, and don't welcome the 28% capital gains tax bill, you could take the view that a government subsidy to encourage you to invest your gain in a new company will help you take a risk.

For example, if you sell an asset for £250,000 and make a gain of £50,000, the capital gains tax due @ 28% is £14,000.

You have probably heard of lots of incentives for those who invest in start up companies. This is where individuals pay money to a company in exchange for shares in that company. The tax system helps subsidise the investor's risk in the new unproven business.

But what about your own sole trader business?

It might be small scale and, as there are no shares, it's probably just your money. Aren't you taking a risk? Where are the incentives for you? After all, you might have a good idea which in the future trades from a limited company.

Employees who earn at least £107 per week or £464 per month for a full tax year will be achieving a credit towards the 30 years they need in order to earn a basic state pension.

At these earnings there is no national insurance to pay by you or your employer. Your employer may be your own company.

Therefore, you aren't paying anything to earn a state pension.