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UK Custom and Tax Freeports present ‘golden opportunity’ for trade and manufacturing
The UK Government has selected eight new freeports in England as a means to boost trade, jobs and investment across the country.
The special taxation and customs rules for the freeports will help businesses develop new facilities and operations to trade and manufacture goods more cost-effectively, countering the effects of other complications such as Brexit and Covid-19. Early deliverability of opportunities for new businesses is key; Solent Gateway Ltd at Marchwood Port, Southampton will be leading the way with 64 hectares of new space starting to come available from as early as Autumn 2022.
What is a freeport?
A freeport is an economic zone, typically encompassing a freight seaport or airport, where typical VAT and customs rules don’t apply. This makes it cheaper and easier for raw materials or components to be imported to manufacturers, processed into manufactured goods and then imported into the UK or exported. They can also have simpler planning rules, helping businesses to quickly build or adapt premises in the area.
The locations of England’s eight new freeports were announced by the Chancellor at the Budget in March 2021:
· Solent
· East Midlands Airport
· Felixstowe and Harwich
· Humber region
· Liverpool City Region
· Plymouth
· Thames
· Teesside
The eight freeports will create some 170,000 jobs in the coming five to ten years. Within the Solent Freeport, Marchwood Port operated by Solent Gateway Ltd has been designated as both a customs site and tax site.
What are the tax incentives of freeports?
Within a freeport customs site, there are two principal benefits: firstly, Customs Duty and Import VAT are only charged on goods if and when they are released from the freeport into the UK. This enables businesses to process, store and transport goods with greater flexibility, giving them a cash flow benefit; secondly, duty paid can be on the final product rather than component parts if lower, also reducing the tax paid as raw materials normally have a higher duty rate than the manufactured or processed goods. Freeports can help businesses to improve processing time due to reduced transportation.
Freeport tax sites will benefit from greater capital allowances when purchasing plant and machinery or building new structures. Companies will be able to claim 100% enhanced capital allowances on the purchase of new and unused plant and machinery that is incurred for a trade being carried out at the freeport tax site. The purchase will need to be incurred before 30 September 2026 for the item to qualify for this benefit. Plus, qualifying expenditure on structures and buildings within a freeport zone will qualify for Enhanced Structures and Buildings Allowance at 10% per year for 10 years on expenditure incurred before 30 September 2026. This is a significant increase on the current level of 3% per year for 33 years for non-freeport areas. There are also very appealing benefits around national insurance relief for up to 3 years per employee and business rates relief, with new or expanding business being able to claim up to 100% relief for 5 years.
Richard Parkinson, Port Director at Solent Gateway Ltd, comments: “The UK freeports plan is an excellent initiative to incentivise new businesses to set up new operations in freeports – it presents a truly golden opportunity for both UK and foreign businesses. Solent Gateway is unique in its offering as it is both a customs and tax site, with high quality logistic space starting to come available to new businesses from Autumn 2022. In terms of who will benefit most from operating in a customs and tax site such as ours, it is businesses that want to: develop new facilities and operations, thereby benefitting from all the incentives to attract new business; import goods and components to the UK; store goods for as long as they want without facing customs duties after 90 days; and manufacture or assemble products as import duties are paid on final product or component parts when they leave the freeport, whichever is cheaper,. If goods are exported after manufacture inside a freeport, no customs duties will be paid, so I have no doubt that freeports are very attractive to manufacturers.”
He continues: “Any organisation that wants to import, manufacture and export within a customs site will avoid all duties, so that is a great incentive. Any business that wants to store items for more than 90 days will also benefit.”
Solent Gateway is part of the Solent Freeport. Establishing the Solent Freeport will create 52,000 new skilled and semi-skilled jobs, including 26,000 direct jobs in the Solent and 26,000 in the wider UK supply chain. COVID-19 has widened the opportunity gap for these communities and a Solent Freeport provides a once-in-a-generation opportunity to reverse these trends.
The Solent Freeport will also support levelling up across the UK – in particular in the UK's industrial heartlands of the Midlands and North. The potential of significant government investment in freight links between Southampton and the Midlands will be realised through the connectivity to global markets that the Solent ports provide.
Chris Anderson, Head of Business Development at Solent Gateway Ltd, comments: “Solent Gateway Ltd, located at Marchwood Port, Southampton is one of a very few locations in the UK that is both a tax site and a customs site. We are therefore tailor-made for the development of new facilities for import, manufacturing, assembly, storage, export or delivery into the UK. Marchwood Port is a very high-quality port-centric logistics hub with outstanding sea, rail and road connectivity, and will have 64.3 hectares of new space available for commercial use starting in autumn 2022.”
Richland Hills, Texas, September 12, 2024. AML, a U.S-based manufacturer of barcode data collection products, announces the launch of its latest Android® product, the StrikerX mobile computer.
“As more and more companies are moving away from legacy TELNET based applications, and towards APK and web-based applications, the power required to efficiently access and process graphical apps increases exponentially,” AML President Mike Kearby said. “StrikerX can handle the most demanding tasks with power to spare. Add in the fact that StrikerX is equipped with a Wi-Fi® 6E radio, and it becomes the clear choice for those looking for mobile computers they can keep deployed for years to come.”
StrikerX comes with a host of built-in software utilities for rapid deployment and maximum operator efficiency. The mobile device can be configured with an array of options including different barcode scanners, keypads, with or without a handle, and an optional camera. StrikerX can also be paired with a variety of charging accessories.
For more information on AML's new mobile computer, StrikerX, contact an AML representative at 800-648-4452 or visit our website at:
About AML. AML is a manufacturer of barcode-centric data collection products. For more than 40 years, AML has been providing American-Made data collection products to a variety of companies and industries, with an emphasis on value and performance.
For more information, contact Natalie Smith, Marketing Manager. nsmith@amltd.com
Hamilton Caster & Mfg. Co., a 117-year-old industry leader in heavy-duty industrial casters, proudly announces the enhancement of its legacy Super Endurance Caster (SEC) series, now rebranded as the Spinfinity® Super Endurance Caster (ZFSEC) series. In addition, Hamilton is introducing the all-new Spinfinity® Super Endurance Dual Caster (ZFSEC2) series, both of which feature a new heavy-duty 'V-Style' seal designed to elevate performance in the most demanding environments.
The Spinfinity® Super Endurance Caster (ZFSEC) series replaces Hamilton’s legacy SEC series, setting a new benchmark for kingpinless caster design in extra heavy-duty applications. Central to this upgrade is the heavy-duty 'V-Style' seal, which offers protection against dirt, debris, and moisture. This advanced sealing technology ensures consistent performance and extends the life of the caster, making it the ideal choice for environments where reliability is critical.
"With the introduction of the V-Style seal, the ZFSEC series is engineered to withstand the harshest conditions while providing zero-fix, 100% maintenance-free operation," said Mark Lippert, president of Hamilton Caster. "This enhancement allows our customers to minimize maintenance costs and downtime, further solidifying Hamilton’s reputation for durability and dependability."
The ZFSEC series retains the robust construction that Hamilton is known for, including a swivel top plate and inner raceway made from forged steel, providing superior strength for shock conditions. Sealed precision ball bearings are also now standard in all wheels, contributing to the maintenance-free performance of the series. Notably, the zerk fittings have been eliminated, as the new design makes them unnecessary.
Complementing the ZFSEC series, Hamilton introduces the all-new Spinfinity® Super Endurance Dual Wheel Caster (ZFSEC2) series. This dual wheel series is engineered for extra heavy-duty applications where stability, durability, and maintenance-free operation are paramount. Like its counterpart, the ZFSEC2 series leverages the new 'V-Style' seal, ensuring that each caster is fully protected against contaminants that could compromise performance.
Combined with sealed precision ball wheel bearings, this caster series ensures zero-fix, 100% maintenance-free performance. The dual-wheel configuration enhances stability and allows for a lower overall height, offering a perfect blend of strength and maneuverability.
Casters in both series are finished in a durable HAA polyester platinum powder coat and are available in a wide variety of wheel types, allowing for customization based on application needs. For complete wheel specs and product details check out the Spinfinity® Super Endurance Caster Landing Page and all-new Spinfinity® Super Endurance Dual Caster Landing Page.
ACTON, Massachusetts – September 3, 2024 – New Horizon Soft, LLC (https://www.newhorizon.ai), a global leader in AI-powered supply chain planning software, announced today the release of a new version of its Buyers Workbench procurement planning software. The latest version includes the ability to optimally schedule inbound deliveries, taking into account distribution center (DC) receiving capacity, thus minimizing receiving bottlenecks and lowering inbound logistics costs. A research paper describing the innovative methodology and its deployment at an iconic $10B+ U.S. quick-service restaurant chain was recently published in the peer-reviewed academic journal, the International Journal of Operations Research and Information Systems.
Supply chain organizations typically plan purchase orders without regard to DC receiving capacity. This leads to bottlenecks on some days and underutilized staff on others. New Horizon’s methodology, called Master Purchasing Receipt Scheduling (MPRS), uses a novel algorithm to automatically and optimally schedule deliveries. The algorithm plans deliveries at the time of purchase order creation and results in a steady volume of deliveries and lower planning and logistics costs. While first deployed at a restaurant chain, the methodology is applicable to any manufacturer, wholesaler, retailer, or foodservice company operating high-velocity DCs.
“With the increasing prevalence of high-velocity DCs, scheduling inbound deliveries can no longer be an afterthought,” said Chao-Ming Ying, Co-founder and CTO of New Horizon. “We developed the new MPRS functionality to address what had been a blind spot in many supply chains. Our customers are now taking advantage of this capability to streamline inbound logistics, increase receiving capacity utilization, and lower distribution costs.”
Supporting Resources
• Research article with case study published in the International Journal of Operations Research and Information Systems
• PDF version of article on New Horizon’s website
• New Horizon blog providing overview of restaurant chain deployment
• New Horizon Buyers Workbench web page
About New Horizon Soft, LLC
New Horizon’s supply chain planning software harnesses the power of artificial intelligence to enable manufacturers, wholesalers, and retailers to improve forecast accuracy and service levels while minimizing inventory and costs. We help planners make better decisions with cloud-based applications that are easier to use, easier to configure, easier to implement, and lower cost to operate. New Horizon is headquartered outside of Boston and has customers in North America, Europe, and Asia.
New Horizon — The AI Planning Suite™. Learn more at https://www.newhorizon.ai or follow us on LinkedIn.
Media Relations
Mike Liebson
New Horizon Soft, LLC
marketing@newhorizon.ai
+1 857-242-0783
Pennsylvania, United States – August 2024 – Thinkink Packaging, a leader in innovative packaging solutions, is excited to announce the launch of its new line of Custom Frozen Food Boxes. Designed to meet the growing demand for sustainable and durable packaging in the frozen food industry, these new boxes offer a perfect blend of functionality, quality, and eco-friendliness.
The frozen food market is rapidly expanding, with consumers increasingly seeking convenient, ready-to-eat meals that maintain freshness and quality. Thinkink Packaging’s Custom Frozen Food Boxes are specially engineered to meet these needs, offering superior insulation to preserve product integrity from production to the consumer's freezer.
Our boxes are designed with high-quality materials that provide excellent insulation, ensuring that frozen foods remain at the correct temperature throughout the supply chain. Committed to reducing environmental impact, our frozen food boxes are made from recyclable and biodegradable materials, aligning with the growing consumer demand for sustainable packaging solutions. Businesses can personalize their packaging to reflect their brand identity, with a range of sizes, styles, and printing options available. Built to withstand the rigors of transport and handling, our boxes provide robust protection against moisture, ensuring products arrive in perfect condition.
“The launch of our Custom Frozen Food Boxes is a significant step forward for Thinkink Packaging as we continue to expand our product offerings to meet the evolving needs of the market,” said Asim Munir, CEO of Thinkink Packaging. “We understand the importance of packaging in maintaining the quality and safety of frozen foods, and our new boxes are designed to provide optimal protection while also supporting sustainability goals.”
About Thinkink Packaging
Thinkink Packaging, based in Pennsylvania, is a premier provider of custom packaging solutions for a wide range of industries, including food, retail, and e-commerce. With a focus on innovation, quality, and sustainability, Thinkink Packaging has established itself as a trusted partner for businesses looking to enhance their packaging strategies.
For more information about Thinkink Packaging's Custom Frozen Food Boxes or to place an order, please contact us at +1-570-468-1167 or email support@thinkinkpackaging.com.
Thinkink Packaging – Your Partner in Packaging Innovation.
ADDISON, Ill.--(BUSINESS WIRE)--Unlimited Service Group, a group of local foodservice equipment repair providers, today announced the launch of USG Connect, an innovative new repair and maintenance management platform designed to streamline and simplify the repair and maintenance of commercial kitchen equipment.
USG Connect provides commercial kitchens with a one-stop solution for hassle-free and scalable equipment service. The exclusive platform offers a user-friendly digital experience that allows restaurants, hospitals, hotels and more, to consolidate and manage their service requests into a single maintenance management system. No matter the size of the organization, USG Connect brings the power of 35+ trusted local service brands with more than 125 locations into a consistent service experience for our customers, ensuring seamless and effective management of all foodservice equipment service requests in one, easy-to-use online platform.
The platform empowers operators to effortlessly schedule and monitor foodservice equipment repairs and maintenance. Users can submit work orders for multiple locations at any time, free of charge, through USG Connect. The tool offers 24/7/365 access to detailed, real-time updates, allowing operators to stay informed about the status of their service requests. With robust, strategic insights, customers can understand exactly what is happening with their foodservice equipment, enabling smarter decisions that save time and money.
“Our team is excited to launch USG Connect, our latest innovation. We believe service is best done in your hometown and USG Connect allows restaurant owners and other commercial kitchen operators to manage their service needs across all our unique local brands,” said Kristen Nowak, President of Field Service of Unlimited Service Group. “Our goal with USG Connect is to transform the way commercial kitchens manage their equipment installations, repairs and maintenance. It’s more than just a service platform, it’s a commitment to operational excellence.”
USG Connect is powered by Unlimited Service Group, a community of over 35 local service companies with over 1,600 manufacturer-trained technicians across North America. For more information about USG Connect or to see if your company qualifies for the platform, visit www.unlimitedservice.com/usg-connect.
About Unlimited Service Group
Unlimited Service Group is a community of over 35 commercial foodservice equipment installation, repair and maintenance providers that believes service is done best in your hometown by local technicians and team members providing expert service with differentiated parts access and local stock. Unlimited Service Group looks to support its team members, customers and manufacturers by bringing the leading hometown brands into the group to facilitate best practice sharing, and to unite the group in areas that create real value for all. Wherever there is a problem with commercial foodservice or HVAC equipment, Unlimited Service Group is there to help.
For more information, visit https://www.unlimitedservice.com/.
Contacts
Adam Gasper
adam.gasper@finnpartners.com
(989) 928-4462