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Freeports

Information on the UK government's policy and plans to create freeports, which are areas that will benefit from a range of tax and other incentives including enhanced capital allowances, a suspension from customs duties for imported goods and less burdensome customs procedures.

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Webinar

Freeports

In this webinar the Tax Faculty investigate the incentives, benefits, risks and pitfalls for businesses operating in freeports. Richard Jones and Frank Haskew of ICAEW's Tax Faculty investigate the valuable tax incentives and customs benefits available to businesses operating in freeports, as well as the risks and pitfalls that businesses should watch out for.
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Latest on freeports

Freeports
  • Webinar
  • 19 Oct 2022
  • ICAEW Tax Faculty
This webinar from the Tax Faculty will provide details of the potential VAT and duty benefits of operating within a Freeport area.
Webinar: indirect tax benefits of operating in a freeport
  • Webinar
  • 11 Oct 2022
  • ICAEW
Join ICAEW’s Tax Faculty for a webinar discussing the VAT and customs reliefs available in a freeport.
Welsh and UK governments agree to establish freeports in Wales
  • Article
  • 12 May 2022
  • GOV.WALES
The Welsh Government has reached agreement with the UK Government on the establishment of freeports in Wales, Economy Minister, Vaughan Gething, has confirmed.
Tax news in brief
  • Article
  • 08 Mar 2022
Highlights from the broader tax news for the week ending 9 March 2022, including: HMRC guidance on new power; HMRC payments; refunds of VAT wrongly charged; freeport tax site designation; QAHC guidance; new VAT regulations; HMRC webinars; guidance for employers paying overseas tax; and COVID travel easement ending.
Tax news in brief
  • Article
  • 15 Mar 2022
Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.
Freeport trade opportunities, taxes and duty
  • Article
  • 28 Feb 2022
  • Joseph Eloi
As freeports begin to open in the UK, Joseph Eloi explores the trade-related opportunities, including tax relief, tax exemptions and streamlined customs clearance, as well as the implications for businesses.
Tax news in brief
  • Article
  • 17 Nov 2021
Highlights from the broader tax news for the week ending 17 November, including: HMRC contacting taxpayers about the extension of MTD VAT from April 2022, designation of the first freeport tax sites and a warning about self assessment scams.

Freeports and tax

Freeports
  • Webinar
  • 19 Oct 2022
This webinar from the Tax Faculty will provide details of the potential VAT and duty benefits of operating within a Freeport area.
TAX NEWS Webinar: indirect tax benefits of operating in a freeport
  • Webinar
  • 11 Oct 2022
Join ICAEW’s Tax Faculty for a webinar discussing the VAT and customs reliefs available in a freeport.
TAX NEWS Tax news in brief
  • Article
  • 08 Mar 2022
Highlights from the broader tax news for the week ending 9 March 2022, including: HMRC guidance on new power; HMRC payments; refunds of VAT wrongly charged; freeport tax site designation; QAHC guidance; new VAT regulations; HMRC webinars; guidance for employers paying overseas tax; and COVID travel easement ending.
TAX NEWS Tax news in brief
  • Article
  • 15 Mar 2022
Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.
Freeport trade opportunities, taxes and duty
  • Article
  • 28 Feb 2022
As freeports begin to open in the UK, Joseph Eloi explores the trade-related opportunities, including tax relief, tax exemptions and streamlined customs clearance, as well as the implications for businesses.
TAX NEWS Tax news in brief
  • Article
  • 17 Nov 2021
Highlights from the broader tax news for the week ending 17 November, including: HMRC contacting taxpayers about the extension of MTD VAT from April 2022, designation of the first freeport tax sites and a warning about self assessment scams.
TAX NEWS Applications open for freeport customs sites
  • Article
  • 12 Oct 2021
The forms required for businesses to operate special customs procedures within a designated freeport have been published, along with further guidance on procedures for declaring goods moving into and out of sites.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.

Exclusive Buildings and structures
  • eBook chapter
  • 01 Feb 2023
  • Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
  • Corporation Tax
A chapter on the special business reliefs available for buildings and structures, including The Structures and Buildings Allowance ('SBA').
Exclusive Freeports
  • eBook chapter
  • 01 Jan 2023
  • Robert W.Maas
  • Property Taxes
A section on taxation of freeports in the UK, written for tax practitioners.
Exclusive Enterprise zones and freeports
  • eBook chapter
  • 01 Aug 2022
  • Steven Bone, Martin Wilson
  • Capital Allowances - Transactions and Planning
A chapter covering capital allowances for the old enterprise zones, new enterprise zones and freeports, which are sea, air or rail ports that benefit from a range of customs and tax incentives.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

HMRC guidance and other external resources

Apply to use the Freeport customs special procedure
  • Website
  • 19 Nov 2021
  • HMRC
Guidance for businesses that want to move goods into or out of a Freeport customs site. It covers who should apply, what you'll need, and what happens after applying, with links to forms.
Check if you can claim relief from Stamp Duty Land Tax in Freeport tax sites
  • Website
  • 19 Nov 2021
  • HMRC
Information for businesses buying land or buildings in a Freeport tax site on how to qualify for SDLT relief, how much they can claim, how to claim, and examples.
Declaring goods and paying tax when using a Freeport customs site
  • Website
  • 19 Nov 2021
  • HMRC
Guidance for businesses on how to declare goods brought in or removed from a customs site, moved between different customs sites, moved with the same site, and when goods and services can be zero-rated for VAT.
Check if your goods can be moved into a Freeport customs site
  • Website
  • 15 Nov 2021
  • HMRC
Information on controlled goods and excluded goods that cannot be moved into a freeport customs site, and information on goods that can be moved or stored.
Check if you can claim enhanced structures and buildings allowance relief in Freeport tax sites
  • Website
  • 12 Nov 2021
  • HMRC
Information on requirements for claiming enhanced structures and buildings allowance relief, how to apportion the relief, and how much businesses can claim. Includes examples with calculations.
Check if you can claim the enhanced capital allowance relief in Freeport tax sites
  • Website
  • 12 Nov 2021
  • HMRC
Information on how to claim relief for qualifying expenditure for plant and machinery, how much businesses can claim, and withdrawal of relief. Includes examples with calculations.
Zero-rate of secondary National Insurance contributions for Freeport employees
  • Website
  • 12 May 2021
  • HMRC
National Insurance Contributions Bill 2021 proposal introducing Class 1 NICs relief for eligible employers on the earnings of eligible employees working in a Freeport tax site from April 2022.
Stamp Duty Land Tax relief for Freeports
  • Website
  • 03 Mar 2021
  • HMRC
Measure introduced in Budget 2021 offering full relief from SDLT on the purchase of land or property within Freeport tax sites in England, once they have been designated.

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