Most of the bad news for private clients – including the further restrictions on pension tax relief and higher penalties for non-declaration of liabilities – had already been announced, and the few surprises that the Budget did contain were mainly good. The Chancellor’s focus was on UK business growth, and the improvements he announced in relation to entrepreneurs’ relief and Enterprise Investment Scheme and Venture Capital Trust investments are very welcome. Meanwhile, there was mixed news for non-doms, but interesting developments with regard to inheritance tax and a statutory residence test. More encouragement for entrepreneurs The proposed doubling of the entrepreneurs’ relief (ER) lifetime limit from £5 million to £10 million for qualifying disposals from 6 April 2011 is very welcome.