The government has announced plans to create Investment Zones throughout England and to work closely with the devolved administrations to establish investment zones in Scotland, Wales and Northern Ireland. The Investment Zones will benefit from a range tax and planning incentives; tax measures will encourage investment and employment while the need for planning applications will be minimised and more land will be made available for development.
We can help you understand the potential impact on your business and its operations as well as help you work out how best to make the most of the incentives available. We have been helping clients do all this in relation to Freeports and can bring that experience and knowledge to bear.
Latest news on UK Investment Zones
Investment Zones possible sites announced
In September 2022, The government announced the creation of low-tax, low-regulation investment zones in every part of England “as quickly as possible” to encourage rapid development and business investment. Specifically, the government invited Expressions of Interest to be submitted by 14 October 2022. The announcement also listed all 38 local authorities currently involved in discussions including Greater London, Liverpool, Greater Manchester, Cornwall, the West Midlands, Cumbria, the Tees Valley, West Yorkshire and Norfolk.
The government will look to introduce primary legislation in order to enable the offer on tax and simplified regulations. The final offer will be subject to the passage of that legislation through parliament.
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