UHY Ross Brooke Chartered Accountants
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
The crypto exchange coinbase has contacted its investors to warn them that HMRC now requires them to provide information on their investors’ accounts. Who is affected by HMRC crypto asset disclosure? Crypto exchanges are legally obliged to disclose to HMRC all customers with a UK address who received fiat currency
The use of crypto currency is becoming increasingly common, whether it be for payment of goods or services or for investment purposes. In the last year Bitcoin has appreciated by 500% and potential investors are naturally drawn to these eye catching returns without necessarily understanding the blockchain that underlies the
HMRC have started to send letters to holders of cryptoassets asking them to check that they have paid the correct amount of tax on their investments. HMRC have been gathering information on crypto investors over the last couple of years. HMRC have said that they are taking an ‘educational approach’
Developments in the world of blockchain and crypto currency move fast and much has changed since HMRC’s original guidance on the subject of crypto currency published in 2014. In that original guidance there was a suggestion that dealing in crypto currency was so risky that it could be compared to