New HMRC guidance on the taxation of crypto assets and cryptocurrency such as Bitcoin and Ethereum was published on 1 November 2019.
The starting point for HMRC is that crypto currencies are not considered to be money they are considered to be assets.
Questions to ask yourself:
If 'mining' for crypto assets - again, is it a hobby or full scale commercial enterprise? Do you have just your home PC or laptop 'mining' or do you have a scaleable network or computers doing the mining/code breaking?
Are you a limited company or are you a sole trader?
HMRC's full guidance: https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals
ESSENTIAL COOKIES ONLY - WE DO NOT TRACK YOU
WE DON'T LIKE BEING TRACKED SO WHY WOULD WE 'SPY' ON YOU?
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