Cryptocurrency Tax Laws

Capital Gains Tax » August 2, 2018

Cryptocurrencies are relatively new assets for tax advisers to advise on and even though they can be used in a way similar to cash, gains on cryptocurrencies are taxable to the extent they exceed the £11,300 capital gains tax allowance.  Investors in cryptocurrency may consider utilising their annual exemption ahead of 5th April by switching to a different cryptocurrency creating a gain of £11,300 and establishing a new higher base cost for the new asset.

Cryptocurrency Tax Laws

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