HMRC has published regulations to legislate the definition of ‘designated cryptoassets’ and include them in the list of investment transactions which qualify for the investment manager exemption. The Investment Manager (Investment Transactions) (Cryptoassets) Regulations 2022, which take the form of ‘non-statutory instrument secondary legislation’, provide that a transaction in designated cryptoassets falls within the scope of the investment manager exemption legislation.
The regulations apply to:
transactions entered into from tax year 2022 to 2023 onwards; and
accounting periods that include 19 December 2022 onwards.
HMRC has published regulations to legislate the definition of ‘designated cryptoassets’ and include them in the list of investment transactions which qualify for the investment manager exemption. The Investment Manager (Investment Transactions) (Cryptoassets) Regulations 2022, which take the form of ‘non-statutory instrument secondary legislation’, provide that a transaction in designated cryptoassets falls within the scope of the investment manager exemption legislation.
The regulations apply to:
transactions entered into from tax year 2022 to 2023 onwards; and
accounting periods that include 19 December 2022 onwards.
