Expanding the Investment Transactions List for the Investment Management Exemption and other fund tax regimes
Download the full outcome
Detail of outcome
The government has published a summary of responses to the consultation on the expansion of the Investment Management Exemption to include transactions in cryptoassets.
Legislation to define ‘designated cryptoassets’ and include them in the list of investment transactions which qualify for the Investment Manager Exemption was published in December 2022: Non-Statutory Instrument secondary legislation: the Investment Manager (Investment Transactions) (Cryptoassets) Regulations 2022.
Original consultation
Consultation description
The government announced on 4 April 2022 its intention to expand the Investment Transactions List (ITL) used by the Investment Manager Exemption (IME) to provide tax certainty to UK investment managers seeking to include types of cryptoassets within their investors’ portfolios.
HM Revenue and Customs (HMRC) would like to work with stakeholders to determine the scope of cryptoassets to be included and explore whether to extend the inclusion for the purposes of other tax regimes which also use the ITL.
Documents
Last updated 9 December 2022 + show all updates
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Published detail of outcome and summary of responses.
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First published.