Budget changes to structures and buildings allowances

In his first Budget chancellor Rishi Sunak had an overwhelming amount to grapple with. But he struggled with basic maths in setting the structures and buildings allowances (SBAs) from 31 March (corporation tax) and 6 April (income tax) at 3% over 33 and one-third years – accelerating the benefit of the allowances from the previous 2% for 50 years. Although the published details do not set out the precise operation of the calculations required one expects that the last third part of SBAs will fall into the 34th year as the final residue is claimed. It remains to be seen whether investors will see this minor adjustment in the capital allowances rate as enough to drive behaviour. Many finance directors tax directors and business owners have to date considered the rules too complex being undermined...