Sep 27th, 2021
2 mins
The Government have published updated advice on how companies can make use of the UK’s new freeports, which could open this year.
Eight freeports were announced for England in the March 2021 budget:
- East Midlands Airport
- Felixstowe and Harwich
- Humber region
- Liverpool City Region
- Plymouth
- Solent
- Thames
- Teesside
The new Government guidance explains how a business can move goods into or out of a freeport customs site to:
- get relief from duties and import taxes
- use simplified declarations processes to reduce administrative burdens
- choose which rate of customs duty to use if processing the goods changes their classification
Guidance has also been published on when and how businesses can apply to use the freeport customs special procedure. Companies will need this if they intend to store or process goods in a freeport. Applications for special procedures will open on 8 October 2021
Further guidance has been published on how to declare goods and pay tax when using a freeport.
