HMRC Update on Freeports

6 Jan 2023

UK Freeports are hubs of business and enterprise which will create thousands of jobs, regenerate communities and turbocharge post-Brexit growth.

• The 2019 Government Manifesto included a commitment to create up to ten Freeports around the UK

• Freeports are a special kind of air, rail or sea port, where some of the normal tax and customs rules do not apply

There are currently 23 tax sites and 5 customs sites designated in law.

• 5 of the 8 English Freeports have both a designated customs site and a designated tax site, making them operational

• Teesside became the first Freeport to have a business authorised to operate within a customs site

• The remaining 3 English Freeports are expected to be operational by Spring 2023

• The recently announced Investment Zones are currently under Government review.

Members can access a presentation provided from HMRC which gives and update on current progress.