UHY Ross Brooke Chartered Accountants
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. By Joshua Pearce – Crypto Tax Specialist Why cryptotax
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. By Joshua Pearce – Crypto Tax Specialist Introduction to Cryptotax What is Cryptotax? Every time you get a crypto asset (sell, trade, or earn
Increasing numbers of people will be aware of cryptoassets, but do you know the difference between a coin and a token? A cryptocurrency can be either a coin or a token. A crypto coin is a standalone currency that operates independently of other platforms, with its own blockchain and infrastructure.
At the time that I write this, Bitcoin has risen 50% over the last month and if you were brave enough to buy at the bottom of the market you are probably feeling pretty pleased with yourself right now. By Chris Davies But a word of caution. We saw a
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
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.
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
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