Scottish Government proposes LBTT relief incentive for Green Freeport investment

New proposals drawn up by the Scottish Government aim to incentivise business investment in Scotland’s new Forth and Cromarty Firth Green Freeports.

The proposals include amendments to Land and Buildings Transaction Tax (LBTT) with up to 100% relief available for up to five years on land or property purchased for commercial use. The aim is to promote long-term investment in underdeveloped tax sites with economic potential.

This is expected to be one of the first tax reliefs claimed within a Green Freeport site.

The consultation into proposed legislation for LBTT relief in Scotland’s Green Freeports closes on 12 May 2023.

Harper Macleod’s marine economy team includes expertise in infrastructure investment, ports & harbours, and corporate and real estate acquisitions. If you are considering investing in either of Scotland’s two new Green Freeports, we are here to help.