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\t\tThe boss of AIM, Marcus Stuttard, has called for protection to business relief.\t<\/p>\n
As AIM celebrates its 30th anniversary the market\u2019s boss is eying a crucial birthday present from the Treasury: tax<\/a> clarity.<\/p>\n AIM shareholders were thrust into the tax spotlight last month after a leaked memo revealed Angela Rayner proposed Chancellor Rachel Reeves slap a series of taxes savers.<\/a><\/p>\n Scrapping the inheritance tax exemption for AIM shares was listed as a key pillar, which the Deputy Prime Minister said could raise between \u00a3100m and \u00a31bn per year.<\/p>\n \u201cI just don\u2019t think the sums add up,\u201d Marcus Stuttard, head of AIM, told City AM.<\/strong><\/p>\n \u201cBusiness relief has a huge positive impact on the market and that significantly, by a major factor, outweighs the cost of business relief.\u201d<\/p>\n Business relief on AIM shares was already slashed in half in the Autumn Budget<\/a> but Prime Minister Sir Keir Starmer\u2019s second-in-command proposed putting the remaining 50 per cent on the chopping block.<\/p>\n Reeves may have to plug \u00a320bn gap<\/p>\n Chancellor Rachel Reeves is poised to hike taxes by as much as \u00a320bn in the next budget<\/a>, after analysis from KPMG revealed the government\u2019s Spending Review could open a new blackhole if growth figures continue to wane.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tAIM to shed billions as market projected to shrink by a fifth\u00a0<\/a><\/p>\n Reeves\u2019s \u00a3190bn spending splurge spiked tax fears as the Chancellor doubled down on her \u201ciron clad\u201d fiscal rules to fund day-to-day government spending by tax receipts.<\/p>\n The total abolition of business relief on AIM shares would come as the market is desperate to drive investor sentiment amid a backdrop of waning figures.\u00a0<\/a><\/p>\n London\u2019s junior stock market is projected to shrink by a fifth as a result of a flurry of delistings.<\/a>\u00a0The number of companies listed on AIM dropped to its lowest level since 2001 after 71 companies departed the exchange in 12 months, according to data from UHY Hacker Young.<\/a>\u00a0<\/p>\n Stuttard said the potential cost of business relief for the Treasury is \u201ca drop in the ocean compared to the valuable contribution [AIM companies] make.<\/p>\n \u201cOne would hope that those statistics, and that stark contrast is visible to the government.\u201d\u00a0<\/p>\n He pointed to research from Grant Thornton commissioned by the LSEG last year that revealed UK incorporated companies on AIM make a \u00a335.7bn contribution to UK GDB and help drive 410,000 jobs across supply chains.<\/p>\n \t\t\t\t\tRead more<\/p>\n