To ask Her Majesty's Government what plans they have to replace the reference of the “recognised stock exchange” with "multilateral trading facility" in section 99A(5) of the Finance Act 1986.
Answered on
22 July 2022
Section 99A(5) of the Finance Act 1986 sets out the conditions by which a market qualifies for recognition by HMRC as a recognised growth market for the purposes of the growth market exemption from Stamp Duty and Stamp Duty Reserve Tax. Replacing the reference to a ‘recognised stock exchange’ with ‘multilateral trading facility’ would have the effect of extending the recognised growth market exemption from Stamp Duty and Stamp Duty Reserve Tax to markets that are not part of a recognised stock exchange.
There are currently no plans to extend the recognised growth market exemption from Stamp Duty and Stamp Duty Reserve Tax to markets that are not part of a recognised stock exchange. However, as with all aspects of the tax system, the Government will continue to keep this legislation under review.