ShintoBlessing
Sat Jun 08 2024
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6 answers
1394
Do I have to declare crypto?｜Like stocks and shares, the value (in 'normal' currency) of cryptoassets can go up or down. HMRC do not consider cryptoassets to be currency or money, or that buying or selling cryptoassets is gambling. This means that, .in HMRC's view, profits or gains from buying and selling cryptoassets are taxable
Do I have to declare my crypto assets to the tax authorities? Cryptoassets, similarly to stocks and shares, experience fluctuations in their value expressed in traditional currency. However, the HMRC does not categorize cryptoassets as currency or money, nor does it consider the buying and selling of these assets as gambling. Given this perspective, does it imply that any profits or gains arising from the purchase and sale of cryptoassets are subject to taxation?
GeishaCharm
Sat Jun 08 2024
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5 answers
906
Do I need to declare crypto?｜Like stocks and shares, the value (in 'normal' currency) of cryptoassets can go up or down. HMRC do not consider cryptoassets to be currency or money, or that buying or selling cryptoassets is gambling. This means that, .in HMRC's view, profits or gains from buying and selling cryptoassets are taxable
Do I have a responsibility to declare my crypto holdings? Similar to stocks and shares, cryptoassets are volatile in value, fluctuating in 'normal' currency terms. The HMRC treats cryptoassets differently from currency or money, and does not consider crypto trading as gambling. In this regard, does it imply that any profits or gains derived from buying and selling cryptoassets are subject to taxation? Could you clarify this matter for me?
