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Friday, February 23, 2024

LBTT Relief in Green Freeport at Cromarty Firth

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Businesses will be given tax relief when buying or leasing non-residential buildings or land within Scotland’s two green freeports under new Scottish Government legislation.                                                            

Welcoming the proposed Land and Buildings Transaction Tax relief, which will be available in certain areas within the green freeports at Cromarty Firth and the Firth of Forth, Public Finance Minister Tom Arthur said:

“Scotland’s green freeports aim to make a significant contribution to achieving our net zero ambitions.

“By giving this relief, we are supporting the expansion of businesses, helping drive job creation and creating internationally competitive areas.

“The change will offer an incentive to businesses to invest in these underdeveloped areas, in line with the Scottish Government’s objectives to help them meet their economic potential.”

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