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Home / Simons-Taxes /IHT, trusts and estates /Part I8 Valuation /Division I8.3 Valuation of particular types of property /Valuation of shares and securities for IHT / I8.301 Valuation of quoted securities and unit trusts for IHT
Commentary

I8.301 Valuation of quoted securities and unit trusts for IHT


IHT, trusts and estates

For updates affecting this Division please see Part I0 Updates

Valuation of shares and securities for IHT

I8.301 Valuation of quoted securities and unit trusts for IHT

Definition of 'quoted securities'

The term 'quoted securities' includes any stock, share, security etc 'listed' on the Stock Exchange or any other recognised stock exchange1.

'Recognised stock exchange' is not defined for IHT purposes (although it is defined for the purposes of other taxes2 — see T1.168) but the Board accepts as a recognised stock exchange any exchange which:

  1. Ìý

    (a)ÌýÌýÌýÌý is recognised as a stock exchange by the law of the country in which it is situated, and

  2. Ìý

    (b)ÌýÌýÌýÌý provides a trading floor broadly comparable to that afforded by the Stock Exchange.

AIM shares (which replaced the Unlisted Securities Market (USM) in 1995) have a listing on the SEDOL. HMRC previously stated (in IHTM18336) that AIM shares are valued in the same way as quoted shares, although this page has now been archived. Remember, however,

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