The Government presented its Budget today and, amongst other things, announced its acceptance of the recommendation made in the Aaronson Report that a General Anti-Abuse Rule should be introduced. Further consultation in this regard will take place with the intention of implementing the Rule next year in the Finance Act 2013. The Government also announced the introduction, from April 2013, of a new cash basis for the calculation of tax by small unincorporated businesses, which will include the option to claim a fixed amount for expenses (rather than the actual amounts). Further details are to follow. The full Budget report is available here (pdf) and further supporting documentation is available here.