UHY Ross Brooke Chartered Accountants
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
Homer Simpson would be holding his head at this mistake, with Doh! or even Dough! an inadequate response. What’s Bitcoin Pizza Day? In 2010, Bitcoin and cryptocurrency were hardly spoken of, and few people could have foreseen their future. Laszlo Hanyecz from Florida is one unlucky man. On May 22
Should I incorporate my crypto trading business? As a firm of crypto specialist accountants, that is a question we are being asked more and more frequently. So how would we go about answering that? Income tax or CGT on crypto trading? Firstly a reminder that in HMRC eyes, individuals who
The government announced last week moves that will see ‘stablecoins’ recognised as a valid form of payment as part of wider plans to make Britain a global hub for cryptoasset technology and investment. In brief: Stablecoins are to be brought within regulation, paving their way for use in the UK
“As someone with a keen interest in the subject I was very interested to read the Government’s announcements concerning blockchain and cryptocurrencies this week.”, says Chris Davies, partner in our Newbury office “In particular that stablecoins will be brought within regulation with a view to being widely accepted as a
We’re being asked with increasing frequency to help businesses considering setting up a business, how it would work in the crypto space. Although we are entering a brave new world, many of the considerations are the same, whether a business is started up and run under DeFi or more traditional
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