The UK’s Chancellor of Exchequer recently announced the Edinburgh Reforms. The measures are part of new PM Rishi Sunak’s plans to create a crypto hub and, as such, include tax breaks for investors in digital assets.
Chancellor Jeremy Hunt has now announced the new set of reforms which are designed to drive competitiveness and growth in the financial services industry here in the UK.
The new reforms are an integral element of the government’s Financial Services and Markets Bill. As a result, stakeholders are now closely monitoring any minor and major developments as they look towards to the new government’s position regarding crypto assets.
Following the announcement of the Edinburgh reforms on December 9, the UK Treasury has since clarified that the measures will include an extension for the present tax break that allows investors to avail the official services of a registered UK-based manager without incurring additional tax liabilities.
Britons with an interest in different types of asset class often seek out professional investment advice in Chester, London and other centres for finance across the UK. Expert wealth management teams are often called upon to provide guidance and explain the potential risks involved when it comes to selecting assets for a portfolio, including market volatility.
The all-new set of financial reforms outlined by the Chancellor also seek to abolish European Union financial-market and banking laws. According to the recent statement from the Treasury, the proposed changes will now be implemented via regulations.
