Insights / Freeports: how do they benefit businesses in the UK?
23-04-2021 / Maritime
In the 2021 Spring Budget, Rishi Sunak announced the creation of eight Freeports in England. These Freeports offer potential incentives for businesses located in such zones to benefit from tax breaks, the ability to import and export goods free of tariffs and reduced administrative burdens. They may also provide opportunities for businesses supporting these activities, including shipping companies, construction companies and service providers.