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Aim shares to be allowed in Isas by autumn

Tax-free individual savings account investment is being expanded to include small businesses.

The Treasury has announced that shares in companies listed on the Alternative Investment Market (Aim) will be permitted in individual savings accounts (Isas) by autumn 2013.

The government plans to introduce the necessary legislation in July 2013 and it is expected that this will take effect shortly after. The government intends to apply the same extension to child trust funds and Junior Isas.

The government's conclusion to its consultation process makes clear that tax relief relating to certain Aim shares, including Inheritance Tax Business Property Relief, will remain in place within an Isa wrapper. This paves the way for inheritance tax (IHT)-free Isas to be set up - investments held in Isas are currently free from capital gains tax and income tax.

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