# The Designation of Special Tax Sites (Anglesey Freeport) Regulations 2024, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations designate areas, known as “special tax sites”, as special areas for the purposes of Parts 2 (plant and machinery allowances) and 2A (structures and buildings allowances) of the Capital Allowances Act 2001 (c. 2) (“CAA 2001”).
Section 45O in Part 2 of CAA 2001 provides that expenditure incurred by a company on the provision of plant and machinery for use in a special tax site qualifies for enhanced capital allowances if certain conditions are met.
Section 270BNA in Part 2A of CAA 2001 provides that expenditure incurred on non-residential structures and buildings situated in a special tax site qualifies for an enhanced annual rate of structures and buildings allowances if certain conditions are met.
A Tax Information and Impact Note covering this instrument was published on 3rd March 2021 alongside Spring Budget 2021 and is available on the website at: https://www.gov.uk/government/publications/designation-of-freeport-tax-sites/designation-of-freeport-tax-sites. It remains an accurate summary of the impacts that apply to this instrument.

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Source: https://www.legislation.gov.uk/uksi/2024/1286/note (the official version)
Page: https://openlegislation.uk/designation-of-special-tax-sites-anglesey-freeport-regulations-2024/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.