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Chancellor Extends North East Enterprise Zone

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Chancellor Extends North East Enterprise Zone

A new 40 hectare site in the UKs North East will benefit from tax incentives as part of a major extension of an extension of the existing enterprise zone.

England currently has 24 enterprise zones with 2 sites located in the North East comprising 117 hectares in total. The zone offers foregone business rates (local business rates) and simplified planning rules as an incentive to attract investment. The Zone will now be extended to another 40 Hectare site, subject agreement with local authorities.

The Chancellor has confirmed that the Government will offer new tax breaks for the additional site.

You can find out more information regarding this by contacting our Accountancy team.

 

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