The Treasury has formally designated three ‘special tax sites’ within the North East of Scotland Investment Zone, covering Aberdeen’s Energy Transition Zone and two locations in Peterhead. The designations take effect on Thursday 26 February 2026, with HMRC publishing the legal boundary maps this week. (gov.uk)

Local leaders have long argued the package would help the region pivot from oil and gas to renewables and advanced engineering. Sir Ian Wood called the designation “a significant boost” that will help secure the North East as “one of the most attractive locations” for low‑carbon investment. (investaberdeen.co.uk)

HMRC says businesses operating inside these sites can access enhanced tax support once the regulations come into force. That includes enhanced capital allowances for qualifying plant and machinery, an enhanced rate of structures and buildings allowances, reduced land transaction taxes (LBTT in Scotland), business rates relief and a zero rate of secondary Class 1 National Insurance on eligible new hires up to the Investment Zone upper secondary threshold. (gov.uk)

For finance directors, the two most valuable levers are clear. First, companies can claim a 100% first‑year allowance on qualifying plant and machinery used primarily within a special tax site. Second, non‑residential structures and buildings in the sites qualify for a 10% straight‑line allowance each year for up to 10 years-well above the 3% available elsewhere. Both reliefs are available for qualifying spend incurred up to 30 September 2034. (gov.uk)

The maps confirm where reliefs apply. Aberdeen’s tax site follows the Energy Transition Zone across East Tullos and Altens by the Port of Aberdeen South Harbour, connected to the A90, A96 and AWPR. In Peterhead, one site runs along the bay by Charlotte Street and Merchants Quay, with a second at Upperton on the western side of the A90. Firms must check their premises sit fully inside the hatched red boundaries before claiming. (gov.uk)

Reliefs are time‑limited and rules‑heavy. NIC relief applies for the first 36 months of a qualifying new job and only where at least 60% of working time is spent at the employer’s premises inside a tax site. For structures and buildings, claims require a valid allowance statement and construction to begin and expenditure to be incurred while the site is designated-and on or before 30 September 2034. (gov.uk)

This is not just a North Sea story. The North East (England) Investment Zone’s two tax sites at Blyth and the International Advanced Manufacturing Strategic Site have been live since 8 April 2024. With Aberdeen and Peterhead now activated, suppliers from the Tyne to Teesside and across the wider North have a clearer line of sight on multi‑year orders in offshore wind, hydrogen and port logistics. (legislation.gov.uk)

On the ground, ETZ Ltd projects thousands of jobs as the Aberdeen hub builds out specialist campuses for offshore wind, hydrogen, innovation and skills. Its published masterplan points to 2,500 direct jobs on site by 2030, with a further 10,000 energy‑transition roles across the wider region if investment lands at pace. (aberdeenbusinessnews.co.uk)

The statutory instrument was signed by Treasury Lords Commissioners Gen Kitchen and Christian Wakeford-both government whips-before being published alongside the HMRC maps. For firms, the immediate task is practical: confirm site boundaries, align capex timetables with the 2034 cut‑off, prepare payroll for Investment Zone NIC categories, and keep clean evidence for claims. As ever, the value lies in getting moving while the window is open. (gov.uk)