Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

Chancellor George Osborne delivers his last budget before the General Election

Read more...

Tax planning for 5 April 2015

Read more...

Renewing Tax Credits 07/07/12

Read more...

Concerns over new tax powers in Budget

Read more...

Deadline Day looms for Electricians Tax Safe Plan (ETSP) 30/07/12

Read more...

Contact Us

News Items

Tax Tips

Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals


Call us now on 023 8083 6900 ABDS Home

Tax Tip

Abolition of stamp duties on shares in growing markets.

As part of the 2013 Budget, the Government announced that it would abolish stamp taxes on purchases of shares admitted to trading on growth markets such as AIM. The proposed exemption has been set out in draft legislation the Finance Bill 2014: Draft Legislation.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The Government’s objective is to boost investor participation in equity growth markets and improve the conditions for growing companies to raise equity finance.  It is scheduled to come into effect on 28 April 2014.”

The exemption applies to securities that are admitted to trading on a recognised growth market and not ‘listed’ on a recognised stock exchange for example, London Stock Exchange. ‘Listed’ is defined in legislation at s1005(3)-(5) Income Tax Act 2007. HMRC will maintain a list of recognised growth markets on its website.
 

Stuart Coleman continues:
“It’s possible that you purchased eligible securities, but were charged stamp taxes, for instance between a security becoming eligible for the exemption and the CREST settlement system being updated. If you purchased eligible securities and tax was charged incorrectly, you can apply to the Birmingham Stamp Office for a refund, or contact us at ABDS where we can assist you in these and other business related matters.”

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers    
Great with people   
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals

« Back to Tax Tips