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We were excited to see one of our key campaigns in the 2013 Budget.The Chancellor announced that stamp duty will be removed on the trading of shares on growth markets, such as AIM and the ICAP Securities and Derivatives Exchange (ISDX), from April 2014. 

Together with the London Stock Exchange and other industry bodies, we have been pushing for the removal of stamp duty on trades in AIM and ISDX shares. This measure will help to increase liquidity and investment in small and mid-size quoted companies – vital engines of growth for the UK economy. Our quarterly QCA/BDO Small and Mid-Cap Sentiment Index in November 2012 showed that removing stamp duty on trading in small and mid-size quoted company shares was one of the five most popular fiscal measures that would have the greatest positive impact on companies were it announced in the 2013 Budget.

It is important to note that this change is not due to take effect until the next tax year – in April 2014. Between then and now, there will be a consultation by HM Treasury. Our understanding is that the consultation will not be about whether to remove stamp duty on AIM and ISDX shares, but instead how to implement it. For example, there may need to be some changes to the CREST settlement system.

For more information about the Budget and this announcement, visit HM Treasury's website. You can also read more about the announcement in our press release.

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