City moguls warn government against scrapping tax breaks on AIM stocks

Ahead of Autumn Budget

Financial services tycoons have warned of the detrimental impact to the Alternative Investment Market if the Labour government removes inheritance tax relief on AIM-listed companies.

In a letter seen by Sky News, London Stock Exchange CEO Julia Hoggett called on City minister Tulip Siddiq to maintain the business relief currently afforded to AIM shares, as rumours swirl about potential plans to scrap tax breaks on the junior market's shares. According to Hoggett, removing this tax break from AIM shares would remove a "core source" of capital undermining the market's capital base and bringing its viability "into question over the short to medium term".  She said a removal of business relief in the upcoming Autumn Budget is likely to result in "significant market vo...