UK Crypto Tax Cryptoassets have undoubtedly grown in popularity over the past two years and with cryptocurrency prices increasing at a rapid rate, many investors are likely to have made sizeable gains. But are investors aware of UK crypto tax implications? In a statement released in 2019, HMRC confirmed that individuals selling cryptoassets will be subject to
In December 2019, HMRC published guidance on its view of how crypto transactions should be treated for UK tax purposes. It stated that individuals selling cryptoassets will be subject to capital gains tax (CGT) on any profits made, over the tax-free annual allowance threshold, which will need to be reported to HMRC on a self-assessment
Five international tax enforcement leaders known as the Joint Chiefs of Global Tax Enforcement or J5, have formed an alliance to combat tax evasion. The J5 includes, the UK, the US, Australia, Canada and the Netherlands. The leaders meet on a yearly basis to collaborate on tackling common tax evasion issues. This year the meeting
