Businesses within customs zones will receive a range of tariff benefits, including duty deferral while the goods remain on-site and suspended import VAT on goods entering the customs zone.
At the Teesside Freeport, imports can enter the customs area without paying tariffs. Businesses operating inside designated areas across the freeport can manufacture goods using the imports and add value, before exporting to a number of international markets, without ever paying the full tariff on the original goods they imported.
Companies operating within the freeport will be able to apply for duty inversion if the finished goods exiting the freeport attract a lower tariff than the component parts originally imported. In addition, businesses will be authorised to use simplified import procedures and streamlined planning processes to reduce administrative burdens.
ABLE Seaton Port is located on the north bank of the River Tees and covers 126 acres including one of the world’s largest dry docks of 25 acres. It is at the heart of the UK offshore wind zones and crucially the infrastructure is already in place, making it available now for the offshore wind sector to use.
Teesside International Airport connects the Tees Valley to a raft of holiday destinations on the continent and beyond. Together with its Amsterdam Schiphol service, this unlocks more than 200 destinations worldwide for both business and leisure. The airport's burgeoning freight facility is ideally placed to reap the benefits of Freeport status.
Based on the north bank of the River Tees, Wilton Engineering specialises in designing, manufacturing, coating and loading out large complicated structures for industries including oil and gas, subsea, marine, decommissioning and offshore wind.
LV Logistics offers a full range of services by land, sea and air from Teesside around the globe through our worldwide network of offices and facilities. Our UK flagship facility, in the heart of Teesside, is incorporated as part of the Freeport zones and our five additional facilities are located within a 3-mile radius.