George Osborne delivered his 2012 Budget earlier this afternoon; from my perspective, there were few surprises. The Finance Bill is due to be published next week, when we will have the chance to review the detailed legislation.

We are also waiting for two important consultation documents covering the above the line R&D credit and the GAAR. Both of these promise to be interesting documents!

In the meantime, here is my summary of the proposals as they impact on my clients.