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NFTs and UK Tax

NFTs and UK Tax NFTs and cryptocurrencies have become undoubtedly popular, especially since NFT was Collins Dictionary’s word of the year for 2021. Non-fungible tokens (NFTs) are unique sets of data on a blockchain. The term non-fungible refers to an asset that is unique and cannot be exchanged like-for-like. Fungible items, such as Bitcoin, can

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NFT
Cryptocurrencies

NFT seized by HMRC for first time in £1.4m fraud investigation

NFT seized by HMRC for first time in £1.4m fraud investigation HMRC has seized three non-fungible tokens (NFT) as part of an investigation into a £1.4m tax evasion fraud. The investigation into a suspected organised VAT repayment fraud, saw three NFTs seized. The fraud reportedly involved 250 fake companies. Fraud Investigation HMRC has arrested three people

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