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Crypto Currency & Tax

Cryptocurrency is becoming increasingly popular to investors but the need to understand taxation on crypto investments  is becoming important as needing to know and appreciate how HMRC will treat investors profits and income now and in the future is vital.

Cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Litecoin, Dash and several others currencies will be treated as an investment and you need to understand the tax implications especially in regards to declaring profits and gains which in effect are taxable. Consider Crypto mining and declaring profits as this is making profit that needs to be treated for tax purposes.

If have made large profit and you will perhaps wish to deposit or transfer monies back into a UK bank account. Banks and Financial institutions are becoming more aware of deposits and limits to transfer from investment companies trading or holding Cryptocurrencies on your bahalf and these deposits and withdrawals will need to be declared to the HMRC.

Ashden's understands the tax implications and the Crypto market and we understnd the tax implications of buying and selling cryptocurrencies, mining cryptocurrencies and ensure that all disclosures are made correctly to HMRC. 

For more information or to speak to one of our tax specialists, please contact us at: crypto@ashden.accountant.

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