![]() ![]() It is becoming increasingly common for employees in certain firms to, where possible, request their salary to be paid in crypto.Īs with a fiat salary, you are liable to pay both income tax and National Insurance. I’m paid in crypto – do I need to pay tax?.When it comes to inheritance tax and crypto, HMRC put crypto assets (currencies, tokens, NFTs and more) in the same class as property.Īs such, you are liable to pay inheritance tax – and a conversation with a crypto accountant would be worthwhile to ensure this is appropriately managed. Will I pay inheritance tax on my crypto assets?.Our crypto accountancy team often advise on the following crypto tax queries: I requested a consultation regarding crypto taxes and got all answers during the initial phone call.“ Cryptocurrency Tax in the UK – FAQs We offer UK cryptocurrency businesses and investors in the UK all the services they need to stay compliant and successful, including: As crypto accountants in the UK, we’re able to advise on the confusing details around the implications of all your crypto activities.įrom buying and selling bitcoin and other cryptocurrencies, mining, arbitraging exchanges, margin trading and exchanging your investments for fiat currency, we can guide you through the latest regulations for this tax year. Crypto trading or spending is subject to capital gains tax, which means you will have to pay tax on your profits.īut cryptocurrency tax law is not always clear. HMRC are now actively looking into crypto activity, so it’s never been more important to ensure cryptocurrency tax compliance.Ĭryptocurrency trading is perfectly legal in the UK – as long as you report any gain to HMRC. Blockchain businesses and individual cryptocurrency traders are no exception. In our four decades of experience, we’ve seen too many businesses hit hard due to poor tax planning and financial penalties. “ I had no idea where to start regarding cryptocurrency taxes but Justin was more than helpful and very informative, would highly recommend.“ Do I need to report cryptocurrency on my taxes?ĭon’t make the mistake of thinking your cryptocurrency activities are exempt from HMRC attention. Use the contact form on this page to send an enquiry about our specialist cryptocurrency accountancy service and we’ll respond as soon as possible. With a team of in-house crypto accountants, we are able to offer an unparalleled service when it comes to managing your crypto tax liabilities and other digital asset holdings.īased in the heart of London’s financial centre, our ACA-accredited team is made up of former Big-Four Chartered Accountants and Chartered Tax Advisers – so you and your cryptocurrency gains are in very safe hands. Pleading lack of awareness of UK crypto tax regulations won’t cut it – and the potential penalties are significant. ![]() ![]() HMRC have been very clear in reminding those in crypto of their tax obligations. With HMRC increasingly active in its monitoring of cryptocurrency revenues, it’s never been more important to review your tax affairs with an experienced crypto accountant. In this fast-evolving space, UK crypto tax regulations aren’t always fully understood by investors and crypto businesses alike. So, if you’re unsure of the tax obligations on your latest cryptocurrency profits, we’ll take care of it for you. Whatever your level of understanding of cryptocurrency and decentralised finance, we’re on hand to help. Unlike other crypto accountants, our team provides expert crypto accountancy knowledge minus the fees and jargon. We work with crypto investors, businesses operating on the blockchain, as well as creators of digital assets such as NFTs – and we pride ourselves on the breadth of our crypto accountancy service offering. If you’re trading in crypto, and are looking for a specialist crypto accountant in the UK, Howlader & Co. ![]()
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