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The Special Tax Sites (Applicable Sunset Date) Regulations 2024

Type Statutory-Instrument

Publication 2024-04-29

State In force

Department King's Printer of Acts of Parliament

Source legislation.gov.uk

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Made: 29th April 2024

Laid before the House of Commons: 30th April 2024

Coming into force: 21st May 2024

The Treasury make these Regulations in exercise of the powers conferred by section 332(4) and (5) of the Finance (No. 2) Act 2023[^f00001].

Citation and commencement

1

(1) These Regulations may be cited as the Special Tax Sites (Applicable Sunset Date) Regulations 2024 and come into force on 21st May 2024.

(2) In these Regulations, “freeport” has the meaning given by section 113(5) of the Finance Act 2021[^f00002].

Applicable sunset date

2

(1) The applicable sunset date in relation to a special tax site[^f00003] is—

(a) 30th September 2031, in relation to a special tax site connected to a freeport in England, and

(b) 30th September 2034, in relation to all other special tax sites.

(2) A special tax site is connected to a freeport in England if—

(a) it is situated within a freeport in England, or

(b) it was considered by the Treasury at the time of designation as being used, or likely to be used, for purposes connected with activities carried on, or likely to be carried on, in a freeport in England.

Signed

Joy Morrissey — Amanda Milling — Two of the Lords Commissioners of His Majesty's Treasury — 29th April 2024

Explanatory note

(This note is not part of the Regulations)

Explanatory Note

These Regulations extend the applicable sunset date for special tax sites.

Regulation 2(1)(a) amends the applicable sunset date from 30th September 2026 to 30th September 2031 for special tax sites situated within a freeport in England, and special tax sites which were considered by the Treasury at the time of designation as being used, or likely to be used, for purposes connected with activities carried on, or likely to be carried on, in a freeport in England.

Regulation 2(1)(b) amends the applicable sunset date for all other special tax sites from 30th September 2026 to 30th September 2034.

A Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

Footnotes

[^f00001]: 2023 c. 30.

[^f00002]: 2021 c. 26. Section 113(5) was amended by section 331(4) of the Finance (No. 2) Act 2023.

[^f00003]: Section 113(3) of the Finance Act 2021 (as amended by section 331(3) of the Finance (No. 2) Act 2023) defines “special tax site”.

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