UHY Ross Brooke Chartered Accountants
In a recent article published in the FT Advisor, our Crypto Tax Director Phil Kinzett-Evans describes the tax challenges facing crypto investors. These issues include: Cross border regulation and reporting UK tax classification – Capital Gains or Income Tax? When is a crypto currency conversion liable for tax? Tax implications
Committed to helping you prosper To bring in the new year, we have carefully curated a selection of articles aimed at helping you prosper through these still somewhat unsettled times. Our last edition of Prosper was released in July of last year and since then the economic hardship the country
HM Revenue and Customs (HMRC) have announced that nearly 44,800 people have sorted their upcoming 31 January tax bill by setting up a payment plan. HMRC provide the option of a monthly payment called Time to Pay (see link below). Provided taxpayers owe less than £30,000, they can use HMRC’s
Self-assessment deadline 2022/2023 Remember to file your self assessment tax return for tax year 2022/23 by 11.59pm on 31st January 2024, but don’t leave it until the last minute to prepare or submit it! If you were hoping to send a paper return, you’re too late, and will have to
HMRC recently launched a new campaign targeted at crypto investors as part of a crackdown on tax evasion. They have introduced a new disclosure and payment service for taxpayers to voluntarily disclose and pay any unpaid taxes associated with cryptoassets. Cryptoassets (also known as tokens or cryptocurrencies) include exchange tokens
Most of us will use Google when we want to know the answer to a simple question, but why should you use a specialist tax advisor rather than Google or AI for tax advice? By Chris Davies First, tax advisors offer personalised guidance tailored to your specific financial situation, something
Cryptocurrencies have disrupted the financial world and have led to much discussion about taxation. While it’s exciting to be part of this financial revolution, it’s equally essential to keep the taxman satisfied. And that’s where many crypto enthusiasts make costly mistakes. Why cryptotax is different from traditional tax Traditional tax
The crypto world is bursting with perplexing technicalities and regulations. So let’s break things down and simplify the complex terrain of cryptotax planning in the UK. Introduction to Cryptotax What is Cryptotax? Every time you get a crypto asset (sell, trade, or earn cryptocurrency), the government wants its share in
In the crypto world of Bitcoin, Ethereum, and countless altcoins, taxation becomes an ever-growing enigma. In the UK, the intricacies might baffle many. Let’s untangle this virtual net. Buying and Holding Crypto You just bought your first Bitcoin. Exciting, right? In the eyes of Her Majesty’s Revenue and Customs (HMRC),
A recent article in newbusiness.co.uk, looks at ways in which crypto currencies are currently being used in business and how it’s not quite as simple as using fiat currencies such as GBP. The article discusses the implications for accepting, paying, remunerating staff and investing. Read the whole article, including the