Examples of Bidding Prospectus in a sentence
Briefly outline how your proposed approach for the SIB will meet the objectives of this programme, as outlined in the Bidding Prospectus, and how you would work in collaboration with other local authorities and relevant sector partners (e.g. across health and social care) to achieve these goals.
Under criteria laid out at 3.1.21 a-3.2.21g of the Bidding Prospectus, the precise boundaries of the proposed tax sites need to be provided to enable HMRC to carry out its usual compliance activity – a map of each proposed site should be provided at Annex E of the OBC.
Approval of Freeport tax sites will give the business operating within them access to tax measures in line with the Bidding Prospectus and confirmed in detail at the Budget.
Prospective Freeports should build on the analysis provided in their initial returns against criteria at 3.1.23 of the Bidding Prospectus.
As the Bidding Prospectus noted, prospective Freeports may wish to seek wider Government funding to support decarbonisation work, including investment announced as part of the Prime Minister’s Ten Point Plan from November 2020 and Build Back Better – Our Plan for Growth from March 2021.
As stated in the Bidding Prospectus, it cannot be spent on security infrastructure for customs sites and must be spent within the Freeport Outer Boundary or wider Travel to Work Area.
As outlined in the Bidding Prospectus and OBC guidance, the Freeports tax offer will be subject to our domestic and international subsidy control obligations.
Boards should continue to feature the key members listed in the Bidding Prospectus and subsequent governance guidance, namely: • A chair • The port(s) • The lead local authority (accountable body) • Major landowners or investors • All local authorities responsible for statutory powers required for Freeport delivery.
The tax site process is led by the HM Treasury (HMT), and its purpose is to verify that prospective Freeports’ proposed tax sites adhere to the criteria set out in the Bidding Prospectus, in terms of both physical size and shape and potential to meet the policy objectives.
In line with 3.1.26 of the Bidding Prospectus, prospective Freeports will need to fully explain how the tax site(s) minimise displacement of economic activity from wider local areas, especially economically disadvantaged area.