Budget offers certainty to suppliers, says OSA

The Optical Suppliers Association (OSA) has said the recent budget offered some certainty to optical-related businesses.

Among the economic measures unveiled by Chancellor of the Exchequer Jeremy Hunt on March 15, was the announcement that the Annual Investment Allowance, which allows businesses to deduct funds invested in IT equipment, plant, or machinery from taxable profits, was now permanently set at £1m.

OSA director Stuart Burn said: ‘This permanent replacement provides a greater level of certainty to businesses and removes the complexity of changing amounts. It is intended to encourage confident business investment and will benefit optical and ophthalmology practices and manufacturing labs.’