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Cryptocurrency. Some need to knows.

Our Financial Planning, Tax Investigations, UK tax and US tax teams have created the following insights covering topics ranging from HMRC's position on Cryptoassets, to advice for those who have integrated it into their portfolios. 

Decrypting cryptoassets - the UK personal tax implications

Buzzacott_David_Conway

Our private client tax expert David Conway answers these questions:

  • Has HMRC issued guidance surrounding cryptoassets?
  • What are cryptoassets?
  • How does Capital Gains Tax apply?
  • Would I need to pay income tax?

Read our article

Should you invest in cryptocurrency?

Buzzacott_Matthew_Hodge

Our next article written by our partner Matt gives you an insight into:

  • The recent surge in popularity around Crypto
  • Are you aware of what you're investing into?
  • Crypto myths and its regulation
  • Are cryptocurrencies here to stay?
  • Do they have a place in portfolios?

Read our article

Where is my cryptocurrency?

Buzzacott_David_Conway

In this article, David Conway returns to explore these topics:

  • What is the general position of crypto tax
  • The importance in the location of crypto-assets and how this affects your tax
  • HMRC's stance
  • Response from the tax profession

Read our article

Cryptocurrency - could you require a HMRC disclosure?

Antony, our Tax Investigations specialist will explore:

  • What happens when receiving crypto in exchange of services (Employed and Self-employed)
  • Trading in Cryptocurrency
  • What happens when purchasing, selling or exchanging coins
  • Negligible value claim
  • Problems in calculating capital gains

Read our article

The US taxation of crypto assets

Buzzacott_Holly_Payling

This insight written by our US tax expert Holly will cover:

  • How the IRS views cryptoassets
  • Examples of taxable events in the cryptoasset space
  • How crypto is taxed if purchasing or receiving payment
  • 'Short term' and 'Long term' tax implications

Read our article

“Given the sharp downturn in the crypto market in recent weeks, investors may be finding themselves realising large losses on their assets as well as potential coins which are now worthless. While large gains will inevitably give rise to tax bills, losses realised on cryptoassets can be used to offset any other capital gains, such as shares and property, and are not restricted to just other crypto gains.

Click here for more information on cryptoassets and capital losses.

David Conway, Associate Director - Buzzacott

Speak to an expert

If you’re concerned about any of the issues raised in our cryptocurrency insights please get in touch with our teams via the form below. From tax, to dealing with HMRC enquiries, to investment advice, we’re here to help.

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