Sometimes tax law can mimic fashion trends and, if you hang around long enough, you can bring old items out of the closet. Mind you, I am happier that an Industrial Buildings Allowance of sorts is in favour once more, whereas flares really do seem a fashion faux pas to be confined to the catwalk. The relief for qualifying premises may have a new name, Structures and Buildings Allowance, but it works in a similar fashion - to give relief for structures.

A budget white rabbit introduced as a long-term commitment for improving the UK competitiveness, the relief is a welcome one for anyone investing in qualifying structures, or alterations to existing structures.