THIS ARTICLE HAS BEEN UPDATED ON 21/12/18 – PLEASE FOLLOW THIS LINK
TAP’s governing body the Chartered Institute of Taxation recently attended a meeting of HMRC’s crypto assets roundtable to continue the discussions around the tax treatment of crypto assets. Matters discussed included the current state of the crypto asset market, the Crypto asset Taskforce Report and the new guidance Her Majesty's Revenue and Customs (HM Revenue and Customs or HMRC) is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support and the administration of other regulatory regimes including the national minimum wage.... is preparing.
It was confirmed that guidance aimed at individuals will be published shortly, with guidance for businesses following in early 2019.
We will update our clients as soon as guidance becomes available, however if you require assistance in reporting your crypto currency income and gains then please contact us.