Chelsea Financial Services and interactive investor have made separate pleas to the next government to scrap stamp duty on UK shares in a bid to level the playing field between domestic and international stocks.
Richard Wilson, CEO of interactive investor, argued the duty was a "pernicious tax that penalises listed companies that help put the ‘great' in British business and UK investors seeking to back them". Citing its own research, ii found that 82% of polled clients claimed removing stamp duty on UK shares would encourage greater investment in UK listed companies, while 57% of the cohort said it would "make them think twice" about investing in the UK in the future. General Election 2024 Blog: Rachel Reeves rules out additional tax rises Wilson said higher transaction costs due to stamp ...
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