- Freeports are national hubs for global trade and investment and eligible businesses may benefit from tax relief alongside customs incentives and simplified planning processes. Tax reliefs available are enhanced capital allowances, enhanced structures and buildings allowances, SDLT relief, employer NIC relief and business rates relief.
- There are eight freeport locations in operation in England: East Midlands, Felixstowe & Harwich, Humber, Liverpool City Region, Plymouth, Solent, Thames and Teesside, and two in Scotland: Inverness and Cromarty Firth Green Freeport and Forth Green Freeport.
- On 22 March 2023, the UK and Welsh governments announced that they have jointly selected the Anglesey Freeport (Ynys Mon) and the Celtic Freeport (in Milford Haven and Port Talbot) to become Wales’ freeports.
- Timing: The freeports in England and green freeports in Scotland are now operational, with some customs sites still to be designated. The freeports in Wales each submitted their Outline Business Case in late 2023 with the aim of becoming operational in 2024. Freeport tax reliefs will be available until 30 September 2031 in England and until 30 September 2034 in Scotland and Wales.
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