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Buying Aim Shares for IHT Relief
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If you have been advised by your broker to invest in shares quoted on the Alternative Investment Market (AIM) for the purpose of obtaining relief from Inheritance Tax (IHT) and Capital Gains Tax (CGT) it may be advisable to check Inland Revenues rules.
It is commonly known that shares quoted on AIM are classed as business assets and if held for a minimum of two years will be free of IHT and also qualify for reduced CGT.
However, there are several instances where AIM shares will not qualify. One important rule is that the shares are not listed on a recognised market. As we know AIM is not a recognised market but a lot of the foreign AIM companies are also listed on overseas exchanges.
We suggest you check this with your advisor.