In yesterday's (23 March) Budget, the Chancellor announced that he is to cut corporation tax by 2% to 26% from next month, instead of the 1% previously announced, with further 1% drops scheduled for the next three years.

Mr Osborne also announced the creation of 21 enterprise zones to help get UK business booming again.

Stuart Liddle, Budget UK spokesperson, said: 'As a provider of cars and vans for small businesses, we welcome the Government’s backing of the SME community and believe that the measures outlined by George Osborne in yesterday’s Budget will get business back on the road.

'The reduced rates for corporation tax and the broadening of the enterprise investment scheme mean that small business owners will be supported in growing their organisations across the country, with the potential to expand further afield. As such, this is a real opportunity to get the UK business community motoring and a genuine chance to drive economic growth.'