UK Crypto Taxation Guidelines Issued By Revenue And Customs Agency
Wed, 31 Mar 2021, 11:04 am UTC
The UK’s Her Majesty’s Revenue and Customs (HMRC) has issued crypto tax guidelines for businesses. The regulations cover various assets and processes.
The Cryptoassets Manual defines the tax rates for crypto transactions that involve businesses and companies. They specifically deal with cryptocurrencies like bitcoin.
The detailed document goes over which taxes apply, accounting, crypto mining transactions, and betting and gaming, among many other details. It also examines exchange tokens and expects businesses to pay taxes on activities involving those tokens. This includes mining.
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