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 of free tokens through airdrops
• Gains and losses – can the taxes be offset against each other?
• Business and crypto

Phil shares some examples to help explain how investors can be caught out.

It’s a constantly evolving minefield out there. Having someone on your side who understands not only crypto investments, but how to interpret tax law in a way that satisfies HMRC is vital for anyone holding a reasonable amount of crypto assets.

UHY Ross Brooke has a team of crypto tax specialists who understand the environment from a professional and personal perspective.

Do get in touch if you are uncertain of your crypto tax liability.

Read Phil’s whole article