Money Matters

Money matters, whether you're making it, borrowing it, or investing it. Understanding the financial risks, possible investments and current market is an important process for each and every business owner. Read more from the experts in the financial sector and benefit from their expertise and guidance here.

Show on Features Page?: 
Yes
Promoted on Features Page?: 
Yes

1st November 2019

Crypto assets - questions and answers

By David Cairns

Hawsons

HMRC have released guidance on the taxation of crypto assets for individuals. It is believed to be one of the most comprehensive sets of guidance currently issued by any government and it can found at https://www.gov.uk/government/ publications/tax-on-cryptoassets

 

How is an individual taxed?

Crypto mining is subject to Income Tax as miscellaneous income on discovery (not necessarily on sale) at tax rates up to 45 per cent. Future growth is normally subject to Capital Gains Tax.