Personal Equity Plans

HC Deb 10 July 1997 vol 297 c609W

Mr. Swayne

To ask the Chancellor of the Exchequer if he will change the rules governing PEPs so that AIM stocks are eligible for inclusion. [7322]

Dawn Primarolo

We have no plans to do. Shares dealt in on the Alternative Investment Market (AIM) may qualify for the tax reliefs available for investment in unlisted companies. These include inheritance tax relief, capital gains tax reinvestment relief and reliefs under the Enterprise Investment Scheme and Venture Capital Trust Schemes. It follows that AIM shares cannot be held directly in PEPs, which are intended for listed shares and securities: they can, however, be held indirectly in PEPs by collective investment through qualifying unit and investment trusts.