Crypto Currency Tax Advice
Crypto Currency Tax Advice
HMRC is now more actively looking into crypto currency to ensure that investors are aware of their tax liabilities through such investments.
As crypto currency is a relatively new trend that is constantly developing many individuals are unsure of their obligations.
Put simply, crypto currency is subject to Capital Gains Tax in the UK if profit has been made on the investment. Another consideration is that if you are paid in crypto currency for any goods of services provided, you will be subject to income tax and National Insurance contributions.
Crypto Tax Advice - call us on 0113 387 5670 to discuss your circumstances
If you dispose of your crypto assets and profit from doing so, you will have to make a tax declaration. For example:
- Trading crypto currency for fiat currency (e.g. GBP).
- Trading crypto for crypto.
- Taking payment for goods / services via crypto.
Declare Crypto Investments
Our team of experienced tax advisers can assist in clarifying your tax position if you have invested into crypto currency. We will be able to discuss your individual circumstances and advise you of your potential tax liabilities and how to declare these to HMRC.
Our service is aimed at taking the stress out of managing your tax affairs and to give you piece of mind if you are concerned about your position.
Further complications lie if you are considered to be non UK domiciled. Our team are fully au fait with making tax declarations to HMRC when there is an overseas element to consider.
For more information about the Declaring your Crypto Investments or to discuss your circumstances with our experienced tax investigations professionals, call us on 0113 387 5670 or fill out an Enquiry Form
and we will contact you straight away.
If you do not pay your tax there are a number of actions HMRC may take in order to recover unpaid tax debt. Depending on the circumstances this could take the form of either a tax investigation or HMRC debt enforcement action.
“I’m late filling in my tax return” is a statement that we see time and time again in the enquiries that we see coming through from tax payers who have issues and are contacting us for assistance.
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Contact us today to find out how we can assist you...
To hear more about our Tax Investigation Services or to discuss a potential case with a member of our team, call us on 0113 387 5670.
Alternatively, you can email us at enquiries@forthsonline.co.uk
or fill out an Enquiry Form
and we will contact you directly.