New share listings on London stock exchanges could be given a stamp duty holiday in the autumn budget under proposals under consideration by the Treasury to make British markets more attractive.
Treasury officials are considering giving newly listed companies an exemption on the 0.5% tax on share transactions at Rachel Reeves’s budget in November, according to a person with knowledge of discussions.
One option under consideration is a holiday of two or three years on the tax, according to the Financial Times, which first reported the proposals. However, it is understood that no final decisions have been made, and there are several options being considered.
Investors must pay stamp duty on the price of the UK-listed shares when they buy them. Critics in the City of London argue that the tax penalises people buying British shares at a time when the government is keen to revive the UK’s previous status as second only to the US as a…
