Uptake & Understanding of Individuals Holding Crypto

A recent study has highlighted that many individual crypto asset holders are not aware of the taxation on them. Could this study apply to you?

HMRC guidance advises that capital gains tax is due when crypto assets are sold. This is collected via self assessment tax returns, 75% of users did not know this. Similarly, 58% of users were not aware that tax is also due when crypto assets are used to buy goods.

If you have invested in crypto assets and would like to understand the tax reporting requirements, please contact Louise Lane or Chelsea Challis for a free 30-minute introductory meeting.