Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Shares definition

What does Shares mean? In company law practice, a share is a unit of a member’s interest in a company, carrying the rights and obligations attached to its class (for example, voting, dividends and return of capital on a winding up). The Companies Act 2006 simply states that a share is a share in a company’s share capital; the Irish Companies Act 2014 adopts a broadly equivalent approach. Usage and effect are consistent across England & Wales, Scotland, Northern Ireland and Ireland. A company’s share capital comprises the number of shares it allots and issues to investors on or after incorporation. Those...

UK tax incentives for corporate investors in AIM and other unquoted shares: share loss relief, growth market stamp duty/SDRT exemption, dividend exemption and VCT treatment

Published by a LexisNexis Tax expert

Practice notes

Several tax incentives exist for companies that put capital into unlisted Shares and Securities, including those admitted to trading on AIM. AIM, one of the London Stock Exchange (LSE)’s markets, caters for small and medium-sized growth companies. While holdings traded on AIM are often described as ‘listed on AIM’, they are not listed; they are admitted to trading. Where a company’s shares or securities are admitted to AIM and it has no other securities listed on a recognised stock exchange, those securities are unlisted and the company is treated as unquoted.

This Practice Note includes a table setting out the principal tax incentives available to companies investing in higher-risk unlisted companies. For details of reliefs available to individuals, and the policy rationale for them, see Practice Note: Tax incentives for individuals investing in AIM companies.

In this Practice Note:

AIM means the AIM market of the London Stock Exchange
AIM shares means unlisted shares admitted to trading on AIM

Table summarising key investor tax reliefs for companies investing in...

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Web page updated on 22/05/2026

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