19. Stamp duty reserve tax (growth market exemption)

– in the House of Commons am 9:47 pm ar 27 Tachwedd 2023.

Danfonwch hysbysiad imi am ddadleuon fel hyn



(1) Section 99A of the Finance Act 1986 (meaning of “recognised growth market” etc) is amended as follows.

(2) In subsection (5) —

(a) in the words before paragraph (a), after “recognised stock exchange” insert “or a qualifying UK multilateral trading facility”;

(b) in paragraph (a), for “£170 million” substitute “£450 million”.

(3) In subsection (6), at the end insert “;

“UK multilateral trading facility” has the meaning given bv Article 2.1.14A of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments as it forms part of assimilated law.”

(4) After subsection (6) insert—

“(6A) For the purposes of subsection (5) a UK multilateral trading facility is “qualifying” if—

(a) it is operated by an investment firm within the meaning given by article 3(1) of The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544), and

(b) the investment firm has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity (within the meaning of that Act) of operating a multilateral trading facility.”

(5) The amendments made by this Resolution come into force on 1 January 2024.

And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.