The UK tax office is doubling the time to claim reliefs in special tax sites from five to 10 years, starting May 21.
His Majesty’s Revenue and Customs posted a policy note Tuesday to keep reliefs in English freeports until 2031, Scottish green freeports and Welsh freeports until 2034, and all investment zones until 2034. Freeports and investment zones are areas that offer tax incentives for companies that operate inside them.
These sites offer 10% to 20% relief on investing in qualifying non-residential buildings, full relief on first-year investment in qualifying plant and machinery, relief on national insurance ...
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