Teesside Freeport open for business
25/11/2021

The first of the English Freeports, Teesside, opened operations on 19 November 2021, and is expected to be followed shortly by Thames and Humber. The Teesside Freeport will be at the forefront of local low carbon sector creating thousands of jobs in green energy.

Businesses in Freeport tax sites are able to benefit from tax reliefs including:

  • an enhanced 10% rate of structures and buildings allowance
  • an enhanced capital allowance of 100%
  • full relief from Stamp Duty Land Tax
  • business rates relief on certain business premises within freeport tax sites
  • employer National Insurance contributions relief, subject to Parliamentary process and approval

In addition, local councils will be able to retain 100% of business rates growth generated by the freeport tax sites for the next 25 years, providing them with financial security to invest in regeneration in their local area.

The Teesside Freeport also has a custom's site designation. This is a special kind of port where normal tax and customs rules do not apply. Rather there are simplified customs procedures including tariff suspension, exemption, and deferral available.

In total, the government has committed to the creation of eight Freeport locations across England and at least one Freeport in each of Scotland, Wales and Northern Ireland. 


Accounts

We specialise in preparing end of year statutory accounts for your business, in line with HM Revenue & Customs legislation:

Sole Traders & Partnerships
Limited Companies
Limited Liability Partnerships
Property Management Companies
Property rental income accounts

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Bookkeeping

We can adivise on the best bookkeeping options for your needs and budget, if you would prefer to do the bookkeeping yourself.

There are a number of excellent options including Sage desktop software and market leading online solutions, such as Kashflow & Xero.

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Payroll

ejbc payroll

We can set-up and run your payroll scheme or advise on:

Setting up a new payroll system
Day to day payroll processing
Dealing with PAYE and NI deductions
Completing your end of year returns
Holiday & Statutory pay
Stakeholder pensions

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Start Ups

Starting a Business is an exciting opportunity but at the same time can be daunting.

Why not let us take some of the stress away. We are on hand from the outset to help you through many of the challenges of getting your business up and running successfully.

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The Rectory
1 Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

Phone: 01635 46174

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