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Recognised stock exchange
Practical Law UK Glossary 2-200-8362 (Approx. 5 pages)
Glossary
Recognised stock exchange
Defined in section 1137 of the Corporation Tax Act 2010 and in section 1005 of the Income Tax Act 2007 as:
- Any market of a recognised investment exchange that is designated as a recognised stock exchange by HM Revenue & Customs (HMRC).
- Any non-UK stock exchange that is designated as a recognised stock exchange by HMRC.
The term "recognised stock exchange" is used in aspects of tax legislation and practice including:
- The definition of close company.
- The quoted Eurobond exemption from withholding tax.
- Statutory provisions and HMRC guidance relating to employees' share schemes (for more information, see Practice note, Recognised stock exchanges: significance for share schemes).
For further information about markets that are currently recognised stock exchanges, see HMRC: Recognised stock exchanges.