VCM45400 - VC loss relief: general: qualifying trading company: recognised stock exchange

ICTA88/S576 (4)

‘Recognised stock exchange' is defined in ICTA88/S841, see CG50275 onwards and CTM60310, subhead (g). Shares which are dealt with on the Unlisted Securities Market of the Stock Exchange (USM), or the Alternative Investment Market (AIM), see CG50260 are not regarded as listed on a recognised stock exchange, see CG50256. In ‘Capital Gains Tax Service’ (published by FT Interactive Data - previously called ‘Extel’ - see CG59520) these shares are distinguished from listed shares and securities. Prior to FA96 ‘quoted’ was used instead of ‘listed’, see CG50250 onwards.