Policy paper

Extension to Freeport and Investment Zones special tax site sunset dates

This tax information and impact note extends the window to claim the tax reliefs available in Freeport and Investment Zone special tax sites from 5 to 10 years.

From:
HM Revenue & Customs
Published
30 April 2024

Documents

Extension to when tax and National Insurance contributions reliefs are available in Freeport and Investment Zone special tax sites

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Details

The new sunset dates for the reliefs are:

  • 30 September 2031 for all special tax sites for English Freeports
  • 30 September 2034 for all special tax sites for Scottish Green Freeports and Welsh Freeports
  • 30 September 2034 for all special tax sites for Investment Zones

The tax reliefs available in special tax sites are:

  • enhanced structures and buildings allowances
  • enhanced capital allowances for plant and machinery
  • secondary Class 1 National Insurance contributions relief for eligible employers on the earnings of eligible new employees up to £25,000 a year for up to 3 years
  • Stamp Duty Land Tax relief for special tax sites in England

The measure will take effect from 21 May 2024.

Published 30 April 2024

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