Tax experts challenge HMRC’s proposed tax framework as ‘Not fit for purpose’

Accounting service leaders in the UK have disputed HMRC’s proposed taxation framework for decentralized finance (DeFi) transactions, labeling it as “not fit for purpose.” In a letter sent to HMRC, the UK’s tax authority, written by experts, including tax calculation software provider Recap and chartered accountants, Wright Vigar highlights the need for a more nuanced […] The post Tax experts challenge HMRC’s proposed tax framework as ‘Not fit for purpose’ appeared first on CryptoSlate.

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UK Tax Authorities Consider Seizing Crypto From Businesses 

The UK's HMRC may get powers to seize digital assets from crypto exchanges.

The post UK Tax Authorities Consider Seizing Crypto From Businesses  appeared first on BeInCrypto.

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UK tax regulator welcomes crypto service providers with new tax exemption

United Kindom’s tax regulator invited crypto service providers to operate in its jurisdiction by announcing the inclusion of cryptocurrencies in a tax exemption program. The Commissioners for His Majesty’s Revenue and Customs (HMRC) have published legislation defining “designated crypto assets”…

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Why The UK Opened A Consultation On Crypto, DeFi, And Staking Taxation

The U.K. HM Revenue & Customs (HMRC) agency opened a consultation on the state of crypto taxation, specifically for decentralized finances (DeFi). This call for evidence will have an 8-week duration from today July 5th until August 31st, 2022 and could result in significant changes to the DeFi tax structure. Related Reading | 3 Lessons From […]

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U.K. tax officials seem to believe they seized their first-ever NFTs

HM Revenue and Customs (HMRC), the United Kingdom’s tax department, seized three NFTs as part of an investigation into potential tax fraud. The post U.K. tax officials seem to believe they seized their first-ever NFTs appeared first on CryptoSlate.

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UK’s HMRC says Cryptocurrencies Not Exempt from Digital Services Tax

HM Revenue and Customs (HMRC) says cryptocurrencies do not qualify as money or commodities and are not exempt from the digital services tax. The tax office has also informed online crypto exchanges that they are subject to the tax, according to a report from The Telegraph, which says it is designed to ensure tech firms […] The post UK’s HMRC says Cryptocurrencies Not Exempt from Digital Services Tax first appeared on BitcoinExchangeGuide.

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Crypto Exchanges Subject to 2% Tax in UK Through Digital Services Law

In the United Kingdom, the Her Majesty's Revenue and Customs (HMRC) has said that crypto platforms will be subject to a 2% tax. The post Crypto Exchanges Subject to 2% Tax in UK Through Digital Services Law appeared first on BeInCrypto.

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UK's HMRC to levy 2% tax on crypto-platforms as they don't qualify for exemptions

The unprecedented appreciation in cryptocurrency gains over the past year has taken the world by storm. Cryptocurrency exchanges too have seen massive gains due to the crypto-trading boom of 2021.

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UK Tax Authority, HM Revenue and Customs (HMRC), Updates Guidance on Crypto Taxation

Meanwhile, Britain's financial services minister said the focus is on regulating stablecoins, and intervention in the wider crypto markets is “less immediately pressing.” The post UK Tax Authority, HM Revenue and Customs (HMRC), Updates Guidance on Crypto Taxation first appeared on BitcoinExchangeGuide.

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UK Crypto Taxation Guidelines Issued by Revenue and Customs Agency

The United Kingdom’s tax collection body, Her Majesty’s Revenue and Customs (HMRC) has issued a new document that explains taxation guidelines for cryptocurrency. UK Crypto Regulations The Cryptoassets Manual defines the tax rates for crypto transactions that involve businesses and companies.

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U.K. tax authorities eye crypto assets in up-and-coming budget

According to chartered accountants HillierHopkins, Her Majesty’s Revenue and Customs (HMRC) will target crypto investors in the up-and-coming budget on March 3. The post U.K. tax authorities eye crypto assets in up-and-coming budget appeared first on CryptoSlate.

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Crypto Exchange Coinbase Hands Over Customer Data to UK Tax Authority

Coinbase is handing over customer data to the British tax authority, Her Majesty’s Revenue & Customs (HMRC). The measure affects customers with a U. K. address who received more than £5,000 ($6,450) worth of cryptocurrency during the 2019/20 tax year.

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Coinbase UK will share customer details with British tax authorities

Cryptocurrency exchange Coinbase UK will disclose customer data to the HMRC (or Her Majesty's Revenue and Customs) which is the UK's tax authority, in response to the British tax authority’s legal nThe post Coinbase UK will share customer details with British tax authorities appeared first on AMBCrypto.

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Cryptocurrency Taxes in the UK: What You Need to Know

U.K. tax returns are due on January 31 and HMRC is scrutinizing bitcoin and cryptocurrency transactions. Are your crypto tax returns up-to-date? The post Cryptocurrency Taxes in the UK: What You Need to Know appeared first on Bitcoin Magazine.

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UK Tax Agency to Pay $100K for Blockchain Surveillance Software

On January 17, the UK tax agency Her Majesty’s Revenue and Customs (HMRC) published a job opportunity for a private contractor to design a cryptocurrency blockchain analysis tool. According to the listing, the contract is for one year and HMRC will pay the contractor $100,000 for software that can “identify and cluster crypto asset transactions.

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UK's HMRC seeks to identify cybercriminals using 'blockchain-analysis tool'

The UK's tax, payments, and customs authority, HM Revenue and Customs [HMRC] is reportedly looking to invest in a "crypto-asset blockchain analysis tool" that could identify criminals indulging in theThe post UK's HMRC seeks to identify cybercriminals using 'blockchain-analysis tool' appeared first on AMBCrypto.

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Koinly Review: Helping You Manage and Calculate Your Crypto Taxes

Koinly is an online platform for calculating your crypto taxes and tracking your portfolio. As it supports more than 100 countries, Koinly allows people from all around the world to generate their crypto tax reports.

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Britain’s Tax Authority Updates Crypto Guidelines

Her Majesty’s Revenue and Customs (HMRC) has updated its guidelines on the taxation of transactions involving crypto assets. The United Kingdom’s tax authority clarifies its stance on cryptocurrencies and explains which taxes apply to specific activities carried out by business entities and private individuals.

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UK Tax Authority Issues Crypto Guidance for Businesses

After clarifying how individual taxpayers should deal with cryptos last year, the U.K.'s HMRC has now issued guidance for enterprises.

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UK Resident? Find Out if You Owe Tax on Crypto

Coinspeaker UK Resident? Find Out if You Owe Tax on CryptoOn Wednesday 21 August, eToro UK, HMRC and ICAEW held a webinar on the tax treatment of cryptoassets for individuals, the crypto landscape and the future of crypto.UK Resident? Find Out if You Owe Tax on Crypto

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The UK Is Quietly Preparing To Chase Unpaid Crypto Taxes

The British Government has requested that cryptocurrency exchanges hand over user identity data and transaction histories. HMRC, the U. K. tax authority, is expected to pursue unpaid tax revenues from the past three to four years.

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What UK Bitcoin Investors Should Know as Tax Deadline Approaches

The deadline for submitting tax returns in the UK is Jan. 31, 2019. If you hold investments in bitcoin or any other cryptocurrency it is important to be aware you may owe corporation tax, income tax, or capital gains tax depending on your activities.

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U.K.’s Tax Authority Releases Taxation Guidelines for Local Cryptocurrency Holders

Her Majesty’s Revenue and Customs (HMRC), a non-ministerial department of the British government in charge of the collection of taxes, has published a paper highlighting the various types of fees applicable to blockchain-based virtual currencies and how cryptocurrency traders should handle their cryptos, according to a report released December 20, 2018, by the agency.

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Cryptocurrency Holders Get Tax Guidance by UK Revenue Agency

HMRC has issued detailed guidance on taxation obligations for holders of Bitcoin (BTC)-alike digital assets.

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British Revenue and Customs Agency Clarifies Law on Crypto Taxes

The British government has recently released a policy paper clarifying the tax laws on crypto assets. This fairly straightforward document was released on Her Majesty’s Revenue and Customs’ (HRMC) website, holding a sundry list of important crypto space terms, the relevant tax codes and points of intersection between the two.

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UK Gov’t Unveils Cryptocurrency Tax Guidelines For Individuals

Her Majesty’s Revenue and Customs (HMRC) yesterday released a policy paper, detailing cryptocurrency tax guidelines for individuals. The good news is that no new punitive tax measures apply to crypto, which essentially falls under existing taxation schemes.

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Cryptocurrency Holders Gets Tax Guidance by UK Revenue Agency

HMRC has issued detailed guidance on taxation obligations for holders of Bitcoin (BTC)-alike digital assets.

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UK Investors to Pay Capital Gains and Income Tax on Bitcoin Investments

The U. K. government has said that individual investors will be liable to pay capital gains tax each time they sell crypto assets such as BTC for profit. In new taxation guidelines published Dec.

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UK’s Her Majesty’s Revenue and Customs (HMRC) Creates New Crypto Asset Guidance For Investors

The official tax agency of the United Kingdom, known as Her Majesty’s Revenue and Customs, has just released a set of guidelines that are meant to guide crypto investors and token holders on how they should pay their taxes and how they should see their digital assets. According to the report made by the tax […]

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UK tax agency releases guidance for crypto holders

On December 19, the United Kingdom’s tax agency released a comprehensive explanation of how it sees crypto assets and how individuals may be taxed on their holdings, CoinDesk reported. Her Majesty’s Revenue and Customs (HMRC), the government agency responsible for collecting taxes and overseeing other aspects of the nation’s coffers, explained that the report specifically […]

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UK tax authorities: ‘crypto assets’ are not currency or money

The UK‘s tax office, Her Majesty’s Revenue and Customs, published details that outlines its stance on cryptocurrency and digital assets, obviously in the name of taxation. In a document titled “cryptoassets for individuals,” spotted by Coindesk, the HMRC highlights how it does “not consider cryptoassets to be currency or money.

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UK Tax Agency Publishes Detailed Guidance for Crypto Holders

U.K. tax body HMRC has provided an in-depth explanation of how cryptocurrency users should pay taxes on their holdings.

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Crypto Tax And ICO Regulations In The United Kingdom

“We want to approach this in the same way as we approach other bits of the fintech sector in that we don’t want to stifle innovation, particularly in relation to the underlying technology, but equally we want to manage the risk.

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International Coalition Set to Tackle Cryptocurrency Tax Crime

In a bid to fight the threat of cryptocurrency tax crime, the United States Internal Revenue Service (IRS) has joined with tax authorities from Australia, Canada, the Netherlands and the United Kingdom to form the Joint Chiefs of Global Tax Enforcement (J5), according to a press release.

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