There is currently no specific UK tax legislation designed to deal with cryptocurrency.
Any tax liabilities are dealt with according to the way in which the profit was gained and the circumstances of the business or individual.
In practice, this means that buying or selling using cryptocurrency – or acquiring cryptocurrency as an investment – could result in liability for Capital Gains Tax, Income Tax or Inheritance Tax.
Our expert tax team are specialists in handling tax issues relating to Bitcoin and other altcoins including, Cardano, Litecoin, Polkadot, Stellar and Ethereum cryptocurrencies.
Need help with crypto tax?
We can advise you on the specific tax treatments for all types of cryptocurrency activity including:
- Employee remuneration and incentives (Employee Token option plans)
- Lifetime gifting and legacy giving
- Trading – including advice on how HMRC classifies a ‘trade’
- Mining – receiving cryptoassets as a reward
- Airdrops into your crypto-wallet
- Staking – not resulting in a trade
- Simple Agreements for Future Tokens (SAFTS)
Get in touch now to find out how we can help take your personal finances to the next level.