The Designation of Freeport Tax Sites (Plymouth and South Devon Freeport) Regulations, SI 2022/643, designate the freeport tax sites for the Plymouth and South Devon Freeport with effect from 4 July 2022.
Tax reliefs available in freeport tax sites include stamp duty land tax relief on qualifying acquisitions of land, 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 NICs for qualifying employments and business rates relief.
The Designation of Freeport Tax Sites (Plymouth and South Devon Freeport) Regulations, SI 2022/643, designate the freeport tax sites for the Plymouth and South Devon Freeport with effect from 4 July 2022.
Tax reliefs available in freeport tax sites include stamp duty land tax relief on qualifying acquisitions of land, 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 NICs for qualifying employments and business rates relief.
