The Designation of Special Tax Sites (Anglesey Freeport) Regulations SI 2024/1286 designate three special tax sites within the Anglesey Freeport with effect from 23 January 2025.
The tax reliefs available in special tax sites in Wales include a 10% enhanced rate of structures and buildings allowance a 100% first-year allowance for qualifying expenditure on plant and machinery a zero-rate of secondary Class 1 NICs on earnings up to the upper secondary threshold (£25 000) for qualifying employments business rates relief and land transaction tax (LTT) relief on qualifying acquisitions of land (SI 2024/1193 introduced the relief from LTT via a new Sch 21A to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 with effect from 26 November 2024).
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The Designation of Special Tax Sites (Anglesey Freeport) Regulations SI 2024/1286 designate three special tax sites within the Anglesey Freeport with effect from 23 January 2025.
The tax reliefs available in special tax sites in Wales include a 10% enhanced rate of structures and buildings allowance a 100% first-year allowance for qualifying expenditure on plant and machinery a zero-rate of secondary Class 1 NICs on earnings up to the upper secondary threshold (£25 000) for qualifying employments business rates relief and land transaction tax (LTT) relief on qualifying acquisitions of land (SI 2024/1193 introduced the relief from LTT via a new Sch 21A to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 with effect from 26 November 2024).
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