The Treasury is weighing plans to grant newly listed companies a stamp duty exemption in November’s autumn budget, as ministers look to revive London’s competitiveness as a global IPO hub.
Officials are considering a two- or three-year holiday on the 0.5% tax levied on UK share transactions, according to reports. The move would form part of chancellor Rachel Reeves’s wider capital markets reforms designed to encourage more businesses to list in the UK.
Investors currently pay stamp duty when purchasing UK-listed shares, a system that many in the City argue discourages investment at a time when London is trying to regain ground lost to New York, Frankfurt and Asian markets.
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