The transactions of “designated crypto assets” entered into from the tax year 2022 to 2023 onwards will be qualified for the Investment Manager Exemption in the United Kingdom. Certain legislation was announced by the U.K. government back in April and is now executed by the Commissioners for His Majesty’s Revenue and Customs (HMRC).
On Dec. 20, the HMRC published its legislation to define “designated crypto assets” and include them in the list of investment transactions that qualify for the Investment Manager Exemption.