CT600M Freeports reporting

Freeports are special areas within the UK’s borders where different economic regulations apply. Eligible businesses within Freeport areas will be eligible for a range of tax incentives, which includes enhanced capital allowances.

Tax reliefs for Freeports

Specifically this includes Enhanced Structures and Buildings Allowance (SBA) at a rate of 10% and a 100% first year allowance (FYA) on qualifying plant and machinery. The enhanced allowances are available on qualifying expenditure incurred on or after the date the Freeport is designated until 30 September 2026.

Reporting required for Freeports

HMRC have introduced a supplementary page CT600M, to be completed when the enhanced SBA and/or FYA are being claimed.

Within SimpleStep, when creating an asset for structures and buildings or plant and machinery, there is an option for ticking if the asset is located in a Freeport site and qualifies for enhanced allowances. When ticked, the system will validate certain entries to ensure the required information is populated on the CT600M for filing purposes. These can be populated within Asset Details   

Plant and machinery Freeport enhanced allowance example:

Structures & Buildings Allowance Freeport example:

The following are the Freeport tax sites full names and their effective date of designation.

For more information on the Freeport areas, please see:

Maps of UK Freeports

Freeport tax sites