Commenting on measures in today's Budget aimed at small businesses, Tom Evennett, Private Markets Tax Partner at Deloitte said:"Britain's small companies have been served a cocktail of tax cuts in the Budget, and the Chancellor will want to be seen as on the side of entrepreneurs. One way he has tried to achieve this is by reducing the number of funding rounds required for early stage businesses. "Seed Enterprise Investment Scheme ("SEIS") relief had often limited the initial funding round to £150,000. By removing the restriction to spend at least 70% of this SEIS money before raising further funds under the Enterprise Investment Scheme ("EIS"), a new tech or retail business for example will not be turning down investment in its initial funding round. These changes will be effective from April 2015. "The Chancellor has announced new anti-avoidance rules which come into force immediately to prevent some disposals from qualifying for Entrepreneur's Relief. However, this leaves this hugely beneficial measure in place, and the £10m lifetime allowance and tax rate of 10% unchanged. "We would like to have seen greater certainty on the Annual Investment Allowance (AIA) which provides an incentive for businesses to invest in plant or machinery. The exact limit of the allowance is now subject to who is Chancellor come the Autumn Statement."