“HMRC treats crypto assets as property for tax purposes. However, this is inconsistent with the approach currently being adopted by Government and other regulatory bodies in the UK,” said the executive director of CryptoUK Ian Taylor
UK digital services tax targets crypto exchanges
Britain’s crypto exchanges will be levied with a 2% tax which is likely to be passed on to investors warned CryptoUK.
Coinbase Reportedly Warns Some UK Users It’s Handing Their Details to the Taxman
U.K. users of the exchange who have received £5,000 or more in the past tax year will have their information passed to the tax authority.
UK Tax Authority Issues Crypto Guidance for Businesses
After clarifying how individual taxpayers should deal with cryptos last year, the U.K.’s HMRC has now issued guidance for enterprises.
British Tax Authority Seeks Data from Crypto Exchanges in Search of Tax Evaders
The U.K. tax authority is pressuring crypto exchanges to reveal customers’ names and transaction histories in a bid to claw back unpaid taxes, sources said.
UK Tax Agency Publishes Detailed Guidance for Crypto Holders
U.K. tax body HMRC has provided an in-depth explanation of how cryptocurrency users should pay taxes on their holdings.