What is the PTM levy on shares?
The PTM levy is a charge that applies when you buy or sell £10,000 of shares on the UK stock market. PTM stands for Panel on Takeovers and Mergers, and the charge you pay is £1.50 – which you’ll see on your contract note.
The money is used to help fund the Takeover Panel, which is the UK’s regulatory body responsible for administering takeover rules. Its role is to ensure all shareholders are treated equally during takeover bids.
What does the Takeover Panel do?
The Takeover Panel is an independent body which issues and administers the Takeover Code. It supervises and regulates takeovers, making sure all shareholders receive fair treatment. It also ensures there’s an orderly framework for takeover bids.
Do you pay the PTM levy on ETFs?
Nope, you don’t. The PTM levy tax doesn’t apply to shares in open-ended investment companies, which includes exchange traded funds (ETFs).
Important information: Remember that the value of investments can change, and you could lose money as well as make it. We don't offer advice, so it's important you understand the risks. If you're not sure, please speak to a financial adviser.
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Written by:
Dan Coatsworth
Editor-in-Chief and Investment Analyst
Dan Coatsworth is AJ Bell's Editor in Chief. Dan has been with the company since December 2012 and has more than 18 years' experience in the industry, following the markets and all things investing. He has a degree in Corporate Communications from Southampton Solent University.
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