Industry calls for next government to scrap stamp duty on UK shares and simplify ISA regime

ii and Chelsea Financial Services

Eve Maddock-Jones
clock • 4 min read

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 ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Invesco discontinues standalone UK equity team as it merges with European cohort
UK

Invesco discontinues standalone UK equity team as it merges with European cohort

Teams already work closely

Eve Maddock-Jones
clock 12 June 2024 • 1 min read
Greens pledge to demand non-bank financial institutions to divest from fossil fuels by 2030
UK

Greens pledge to demand non-bank financial institutions to divest from fossil fuels by 2030

Additional mandate for the BoE

Valeria Martinez
clock 12 June 2024 • 2 min read
UK economic growth flatlines in April
UK

UK economic growth flatlines in April

Poor weather dampened data

Eve Maddock-Jones
clock 12 June 2024 • 2 min read
Trustpilot