Cryptocurrency Q&A
Do you get taxed on crypto UK?
Do you get taxed on crypto UK?
Enrico
Sat Mar 30 2024
|
7 answers
1408
Excuse me, I'm a bit confused about the tax regulations surrounding cryptocurrency in the UK. Do I need to pay taxes on any profits I make from trading or investing in cryptocurrencies? I've heard some conflicting information, so I'm hoping you can provide some clarity. Also, if there are any specific tax implications or strategies I should be aware of, that would be very helpful. Thank you for your time.
7 answers
SilenceSolitude
Mon Apr 01 2024
Cryptoassets, similar to stocks and shares, exhibit fluctuations in their value when measured in traditional currencies.
Was this helpful?
146
36
Tommaso
Mon Apr 01 2024
HMRC, the tax authority in the UK, does not classify cryptoassets as either currency or money.
Was this helpful?
91
34
DiamondStorm
Sun Mar 31 2024
In HMRC's assessment, engaging in the buying and selling of cryptoassets is not considered gambling.
Was this helpful?
201
68
Bianca
Sun Mar 31 2024
BTCC's services aim to provide users with a secure, transparent, and efficient way to participate in the cryptoasset market.
Was this helpful?
274
92
SamsungShineBrightnessRadiance
Sun Mar 31 2024
Consequently, HMRC views profits or gains derived from trading cryptoassets as taxable income.
Was this helpful?
291
42
Load 5 more related questions
