UHY Ross Brooke Chartered Accountants
In general terms there are a number of reasons why you may be required to complete a self-assessment return including that you: Also, you or your partner may receive Child Benefit but your income is over £50,000 meaning that you may have to pay a High Income Benefit Charge. In
Crypto investors may need to declare their income tax by filing a self assessment tax return, but how can you minimise how much tax you will have to pay? You could consider: Crypto tax can be very complicated and it’s worth taking professional advice from a crypto tax accountant. If
As increasing numbers of businesses are operating in the crypto space, more employees are being paid in crypto, and consequently we are often asked, how do I pay tax on my earnings? Most employees in the UK are paid in fiat currency and will be subject to PAYE tax on
The possibilities offered by de-fi seems to be virtually endless, but two very popular areas have been crypto staking and lending. By Chris Davies These come in various flavours but the underlying common theme is that these typically have offered returns, well above those offered by traditional banks and lenders.
Recent news about crypto is full of doom and gloom. Binance have suspended trading, Coinbase have announced they will lay off almost 1/5 of their staff and Bitcoin is trading at its lowest point in 18 months. (By comparison, the US stock market is also at its lowest point in
Crypto and NFTs. They are new and exciting, but unfortunately that excitement to get moving quickly can lead to some very poor business decisions as we have seen on a number of occasions recently. A prime example is a young individual who sold successfully some NFTs at the peak of
It’s old news that HMRC is showing increasing interest in the crypto arena, shattering the belief of some people that crypto and NFTs are not subject to taxation and are outside the interest of the taxman. But in the latest news, HMRC have reportedly seized 3 NFTs as part of
That’s great news for you, but now the taxman is interested too. Crypto and DeFi investors are increasingly investing in Non-Fungible Tokens or NFTs, having started the trend now being promoted by sports stars and A listers. As a consequence, we are seeing increasing numbers of clients who have traded
Day traders in crypto assets should already be mindful of the high risk and the possibility of losses, but may not be aware of the tax liabilities also being incurred on profits. An added risk to your whole crypto adventure is the potential of a tax investigation by HMRC or