The Free Zone (Customs Site No. 5 Liverpool) Designation Order 2024
Introduction
The Free Zone (Customs Site No. 5 Liverpool) Designation Order 2024 (the “Order”) was made on 24th October 2024 by the Commissioners for Her Majesty’s Revenue and Customs under the powers conferred upon them by section 16 of the Customs and Excise Management Act 1979. The Order designates an area of land in Liverpool as a free zone, meaning that it will be treated as being outside the customs territory of the United Kingdom for the purposes of customs duty and VAT.
Purpose of the Free Zone
The purpose of the free zone is to encourage economic development in the Liverpool area by providing businesses with a range of tax and customs benefits. Businesses operating within the free zone will be able to:
Import goods into the free zone without paying customs duty or VAT Store goods in the free zone indefinitely without paying customs duty or VAT Export goods from the free zone without paying customs duty or VAT Process and manufacture goods in the free zone without paying customs duty or VAT
Location of the Free Zone
The free zone is located on a 100-acre site in the Port of Liverpool. The site is bounded by the River Mersey to the north and west, by the Leeds and Liverpool Canal to the east, and by Princes Dock to the south.
Benefits of the Free Zone
The free zone is expected to bring a number of benefits to the Liverpool area, including:
Creating new jobs Attracting new businesses to the area Boosting the local economy Encouraging economic development
How to Apply to Operate in the Free Zone
Businesses that wish to operate in the free zone must apply to Her Majesty’s Revenue and Customs for a license. The application process is straightforward and can be completed online.
Conclusion
The Free Zone (Customs Site No. 5 Liverpool) Designation Order 2024 is a welcome development that will provide businesses in the Liverpool area with a range of tax and customs benefits. The free zone is expected to create new jobs, attract new businesses to the area, boost the local economy, and encourage economic development.
The Free Zone (Customs Site No. 5 Liverpool) Designation Order 2024
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