U.K. investors will no longer be able to add crypto exchange-traded notes (ETNs) to their tax-free individual savings accounts (ISAs) after the start of the new tax year on April 6, the Financial Times (FT) reported on Wednesday.
The tax authority, His Majesty’s Revenue and Customs (HMRC), will reclassify cryptocurrency ETNs as qualifying instruments only for Innovative Finance ISAs (IFISAs), rather than the more mainstream stocks and shares ISAs.
ISAs allow users to put away up to 20,000 pounds ($27,000) a year without paying income tax or capital gains tax on the returns. The two main types are cash ISAs, bank account-like investments that pay interest, and stocks and shares ISAs, which invest in equities and exchange-traded…







