The HMRC has issued updated guidance on the management of tax liability from trading, selling or income from cryptocurrency.

In short it is a complex field which can categorise revenue generated through cryptocurrency as income which is liable for income tax and national insurance, capital gains which is liable for capital gains tax or if traded professionally it would be categorised as operating profit which would be liable for corporation tax.

UK TAX POINT are experts in cryptocurrency tax and can advise you on the most effective way to manage the tax liability on your crypto assets. We can also calculate your total liability and support with a self-assessment submission.

If you would like assistance or advice on your cryptocurrency tax liability then contact us.