UK Enforces Crypto Tax Break for Foreigners Using Local Brokers 🇬🇧

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According to a report by CoinDesk, the U.K. will be enforcing a tax exemption for foreign investors purchasing crypto through local investment managers or brokers from Sunday. The tax exemption is part of U.K Prime Minister Rishi Sunak’s plan to turn the country into a crypto hub.

In an email to CoinDesk, the government's tax arm, the HM Revenue and Customs, stated

“This exemption is an important factor in attracting global investors, meaning foreign investors won’t be brought into U.K. tax simply by appointing U.K.-based investment managers. To build upon the U.K.’s position as an investment management hub, this exemption has been extended to include crypto assets, so that funds which include them aren’t put off from appointing U.K. managers.”

https://www.coindesk.com/policy/2023/01/01/uk-enforces-crypto-tax-break-for-foreigners-using-local-brokers/