Cromarty Firth green freeport to offer tax relief to businesses buying land and buildings under Scottish Government plans

TAX relief will be given to businesses buying or leasing non-residential land and buildings inside the Highlands' freeport under new Scottish Government legislation.

Welcoming the proposed Land and Buildings Transaction Tax relief, which will be available in certain areas within the green freeport at Cromarty Firth –as well as Scotland's other freeport in 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.”

The draft legislation, which has now been published, follows a Scottish Government consultation on the plans.

The summary of responses to the consultation as well as the Scottish Government's subsequent response has also been published.

If approved by Parliament, the planned tax relief would be available from October 1 this year.

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