Cryptoassets Archives

Mar 27 2024

Crypto Investors Urged To Declare Gains

By admin Cryptoassets, HMRC, Potts & Co Accountancy & Business Advice News, Self Assessment, Tax Returns

HMRC has reminded investors in cryptoassets that they should declare any income or gains above the tax-free allowance on a tax return. If you hold cryptoassets such as Bitcoin you need to pay tax on any income or gains you have made. Most individuals investing in cryptoassets will be subject…

Mar 06 2023

Recognising Capital Losses

By admin Capital Gains Tax, Capital Losses, Cryptoassets, HMRC, Potts & Co Accountancy & Business Advice News

The annual Capital Gains exemption (currently £12,300) may cover most of the capital gains that you make on your share portfolio. However, that exemption will be cut to £6,000 on 6 April 2023 and £3,000 in April 2024. If you are planning to make large capital gains in the future…

Mar 19 2022

Cryptoassets Are Taxable

By admin Cryptoassets, HMRC, Potts & Co Accountancy & Business Advice News, VAT

In uncertain times people instinctively look for alternative ways to invest and some may choose cryptoassets such as Bitcoin and non-fungible tokens. If you decide to go digital with your investments, think about how the profit or loss you make on these assets will be taxed. HMRC does not consider…

Cryptoassets

Crypto Investors Urged To Declare Gains

Recognising Capital Losses

Cryptoassets Are Taxable

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