Techub News reports that, according to The Financial Times, starting from the new tax year on April 6, UK investors will no longer be able to add cryptocurrency exchange-traded notes (ETNs) to their tax-free Individual Savings Accounts (ISAs). The UK tax authority HM Revenue and Customs (HMRC) has classified crypto ETNs as an asset class only suitable for the "Innovative Finance ISA," rather than a qualifying instrument for more mainstream stocks and shares ISAs. HMRC stated that investors holding crypto ETNs in their ISA accounts are not required to sell them.
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Techub News reports that, according to The Financial Times, starting from the new tax year on April 6, UK investors will no longer be able to add cryptocurrency exchange-traded notes (ETNs) to their tax-free Individual Savings Accounts (ISAs). The UK tax authority HM Revenue and Customs (HMRC) has classified crypto ETNs as an asset class only suitable for the "Innovative Finance ISA," rather than a qualifying instrument for more mainstream stocks and shares ISAs. HMRC stated that investors holding crypto ETNs in their ISA accounts are not required to sell them.