The government will exempt transactions carried within the Private Intermittent Securities and Capital Exchange System (PISCES) from stamp duty and stamp duty reserve tax.
In the Autumn Budget today (30 October), the Labour government said the exemption will be introduced "to a similar timeline to the legislation establishing the PISCES regulatory framework". "The government is committed to delivering the Private Intermittent Securities and Capital Exchange System, a new innovative market for trading private company shares," the Budget document stated. Autumn Budget 24: Carried interest rates hiked to 32% in blow to private equity bosses Back in March, under the former Conservative government, the Treasury unveiled proposals to create a venue where p...
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