Enhanced Capital Allowance Sites

Companies setting up on two of the Redcar & Cleveland Enterprise Zone sites will be eligible for Enhanced Capital Allowances if they invest in qualifying plant and machinery. These allowances are available on the larger industrial Enterprise Zone sites and it is anticipated that they will be most suitable for companies looking to make significant investment in plant and machinery.
Redcar & Cleveland is one of only a small number of areas across the country which can offer large-scale occupiers enhanced capital allowances against the cost of their plant and machinery on four of the Enterprise Zone sites.
The sites are suitable for businesses in the renewable energy, chemicals and advanced engineering sectors looking to make capital investment.
Companies locating on these sites receive first year capital allowances at 100% on qualifying plant and machinery to a maximum of £100m to offset against corporation tax if the investment is made before April 2017.
Where the company makes a trading loss for tax purposes, and the loss is not offset against other group profits or carried back, it can be carried forward indefinitely to be set against taxable profits from the same trade in future accounting periods.

The sites that are able to offer Enhanced Capital Allowances are:
  • South Bank Wharf PD Ports,
  • Wilton International,
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