Chancellor Osborne announced his Budget on Wednesday 19 March, the fifth Budget of the current government. Whilst arguably the headline item was the proposed revision to pension rules which will no longer oblige individuals to purchase an annuity on retirement, there were a number of other significant changes to the tax code notably in the areas of capital allowances for businesses and that old favourite anti-avoidance. And Northern Ireland is to get its first pilot enterprise zone in Coleraine, though one hopes this is not a consolation prize for the lack of decision taken on devolving corporation tax varying powers to the NI Assembly. In this issue of tax.point Leontia Doran takes a more detailed look at the key announcements in Budget 2014.