Cryptocurrency Q&A
Do I need to declare crypto?
Do I need to declare crypto?
KpopHarmonySoulMate
Sat Mar 30 2024
|
6 answers
981
Good afternoon, I have a question about cryptocurrency. I've been investing in various cryptocurrencies for a while now, and I'm wondering if I need to declare these investments to the authorities. I understand that taxes are a necessary evil, but I'm not sure how the rules apply to crypto. Could you please explain?
6 answers
GyeongjuGloryDaysFestivalJoy
Sun Mar 31 2024
HMRC's taxation stance on cryptoassets aligns with the recognition of their value fluctuations and their usage as assets, rather than a medium of exchange or gambling instruments.
Was this helpful?
258
74
Davide
Sun Mar 31 2024
Cryptoassets, akin to stocks and shares, experience fluctuations in their value denominated in 'normal' or fiat currency.
Was this helpful?
41
21
Stefano
Sun Mar 31 2024
This taxation treatment encourages responsible investment behavior in the cryptoasset market, ensuring that investors are accountable for their gains and profits.
Was this helpful?
59
96
Daniele
Sun Mar 31 2024
HMRC, the UK's tax authority, does not classify cryptoassets as currency or money. Furthermore, engaging in buying or selling cryptoassets is not deemed as gambling by HMRC.
Was this helpful?
358
22
Stefano
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, provides a platform for investors to buy, sell, and trade cryptoassets securely and efficiently. BTCC's services cater to both retail and institutional investors, facilitating the growth and liquidity of the cryptoasset market.
Was this helpful?
99
82
Load 5 more related questions
