For a number of years, Hodge Bakshi Chartered Accountants & Chartered Tax Advisers have been significantly involved in helping clients across a wide array of Cryptocurrency tax-related issues. This ranged from basic compliance to some highly complex Crypto tax issues and helping other professional advisers!
There has been a surge in Cryptocurrency investment in the last couple of years which has not gone un-noticed by HMRC in particular.
HMRC have started to actively enquire and are working with many well-known Crypto platforms and exchanges to ascertain who may have tax to pay on their cryptoassets.
With our crypto team being personally involved since Bitcoin’s inception we are uniquely placed to help you.
We are also proud members of CryptoUK which is the UK’s largest self-regulatory association representing the Cryptoasset sector.
Due to the nature of Cryptoassets (HMRC’s definition!) our services are bespoke to each client. Some of our past work and experience includes:
- Capital Gains Tax calculations involving the most basic to the most complex scenarios including voluntary disclosures
- Maintaining a running log of their asset pools and therefore helping clients plan for future disposal / tax liabilities
- Tax advice on:
- Advice around the best structures to hold cryptocurrencies (individual vs limited company)
- Accounting and Corporation Tax advice within limited companies
- Income Tax (and losses!) e.g. identification of reportable ‘miscellaneous income’ which falls under Income Tax
- Plus much much more!
The terms Cryptoassets / Cryptocurrency / Crypto currency / Crypto are all interchangeable.
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