HMRC Nudges Real Tax Pounds Out Of Digital Coins

Do you buy and sell crypto-assets? HMRC has procured transaction data from crypto-asset exchanges and is now sending out ‘nudge’ letters to encourage self-reporting for tax.

Any of the following transactions may give rise to a capital gain for tax purposes:

– selling cryptoassets for fiat money
– exchanging one cryptoasset for another
– paying for goods or services with cryptoassets

If you’re uncertain whether your transactions are caught, take professional advice.

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