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Stamp duty and stamp duty reserve tax abolished from the purchase of shares from a ‘recognised growth market’

01 May 2014

Deloitte comments on stamp duty and stamp duty reserve tax being abolished from the purchase of shares from a ‘recognised growth market’.  

Richard Thornhill, equity capital markets partner said: “This change will make it cheaper for companies to raise money. It will also reduce the cost of trading shares, which is likely to increase liquidity.

This is positive news for investors and high growth SMEs in the UK as the removal of the tax reduces the cost of investing, providing an incentive to a wider set of investors to back high growth SMEs in the UK.”

End

Notes to editors

Five markets have been recognised: AIM, ISDX and the High Growth Sector in the UK; the ESM in Dublin; and GXG Markets in Denmark.

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

“This change will make it cheaper for companies to raise money. It will also reduce the cost of trading shares, which is likely to increase liquidity."- Richard Thornhill, Equity Capital Markets Partner

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