Following our successful campaign, the removal of stamp duty on growth market shares is due to come into effect on 28 April 2014.
To make this happen, companies on AIM and the High Growth Segment need to self-certify with Euroclear, the organisation which carries out the settlement of securities transactions in the UK, that their company is eligible for the exemption.
Companies are eligible if it is admitted to trading on a Recognised Growth Market (ie AIM, ISDX and the LSE's High Growth Segment – a list will be available soon from HMRC) provided that it is not also listed on a Recognised Stock Exchange.
The London Stock Exchange has produced a market notice (11 April 2014) and the form that companies need to send to Euroclear is here. Companies need to submit this form to Euroclear by the close of business Wednesday 23 April 2014 to get the stamp duty exemption for their company at the earliest opportunity.
We have been advised that ISDX companies do not have to self-certify and file a form to be eligible for the exemption. It is our understanding that all companies on ISDX will be automatically eligible for exemption.
If you have any further queries about this, please contact us by email, the London Stock Exchange or ISDX.
