UK Stamp Duty boost for tech companies
There should be no 'Monday blues' for UK start-ups and their investors as the new stamp duty exemption for securities trading on growth markets comes into effect today. The exemption was announced in last year's budget and is intended to incentivise investor participation in the UK's small and medium sized quoted businesses, some of which comprise ambitious tech companies seeking to raise capital for their expansion. UK shares traded on certain growth markets, including AIM and the High Growth market, will qualify for the exemption.
In a recent newsflash our equity capital markets team looked at the new exemption and its implications for the markets.