ARTICLE
4 April 2023

Investment Zones

N
Nazali

Contributor

“Nazali is a law firm founded by Ersin Nazali, providing a wide range of legal services (consultancy and litigation in all areas of law) to its national and international clients, through its trustworthy and experienced legal team. There are thirteen partners, forty lawyers, four sworn financial advisors and ten certified public accountants working for Nazali. Our philosophy is quality in delivery, timely response and business minded approach.“
Investment Zones: As announced at Spring Budget 2023, the government will establish 12 Investment Zones across the UK, subject to successful proposals. Each zone will have access to interventions of
Turkey Tax

Investment Zones: As announced at Spring Budget 2023, the government will establish 12 Investment Zones across the UK, subject to successful proposals. Each zone will have access to interventions of £80 million over 5 years. Building on Freeports legislation, the government will legislate in Spring Finance Bill 2023 to allow designation of special tax sites in or connected with Investment Zones. Special tax sites will be subject to approval by the government and will be designated using secondary legislation.

Once designated, special tax sites will benefit from a package of tax reliefs including Stamp Duty Land Tax (SDLT) relief, enhanced capital allowances for plant and machinery, enhanced structures and buildings allowances, and secondary Class 1 National Insurance contributions (NICs) relief. The reliefs will be time limited with the exact end date confirmed at a future date.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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