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HMRC internal manual

Inheritance Tax Manual

Stocks and shares: investments on alternative markets: AIM

The AIMkt (Alternative Investment Market - usually abbreviated AIM) was launched in June 1995 with the aim of attracting a wide range of new, small and growing companies. This market replaced the USM (IHTM18339), which closed at the end of 1996.

Shareholdings in AIM companies are regarded as “unlisted” for (and only for) the purposes of business relief (IHTM18333), loss on sale of shares (IHTM34132) and instalments (IHTM18334).

AIM shares have a listing on the SEDOL (IHTM18092) and are usually valued in the same way as listed shares.