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NFTs

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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Crypto Tax UK
Cryptocurrencies

Crypto Tax UK

Crypto Tax UK Cryptocurrency investors should be aware of the UK crypto tax implications. Tax implications can arise when selling or exchanging cryptocurrencies. HMRC released a statement in 2019 confirming that individuals selling cryptoassets will be subject to capital gains tax (CGT). CGT will be due on profits made, over the tax-free annual allowance threshold.

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