Cryptoassets: The Revenue's Tax Stance
10th March 2020
Cryptocurrency and Bitcoin are becoming buzzwords, but do you know what they mean?
You will have heard of Bitcoin (which launched in 2009), but there are many other forms of Cryptocurrencies growing into public consciousness and the taxmans' too.
Cryptocurrencies are becoming more mainstream. In 2014, HMRC issued a basic guidance before replacing it with more comprehensive guidance more recently. Our attached report looks at the Revenue's stance and covers the following questions:
- What are Cryptocurrencies?
- How Are Cryptocurrencies Used?
- For Businesss or Pleasure?
We also look at the following in relation to Cryptocurrency:
- Capital Gains Tax
- Income Tax
- Other Taxation Scenarios
- Cryptocurrency Payments and Niches.
We can help you handle your cryptocurrency affairs as tax-efficiently as possible while remaining compliant. Talk to us about Cryptocurrency taxation.