Crypto Mining business

I am a UK tax resident. I want to understand if I create a LTD to start mining crypto, how is the business going to be taxed? If I create the LTD business and I buy computing machines in the US and I host them there, with the only purpose of mining crypto assets and getting paid daily. Can I deduct all the costs from buying the machines (thousands of dollars)? The costs of running those computers like electricity bills, support, repairs, insurance, etc? If I sell the crypto assets after 2-3 months to pay expenses, how is it taxed? Income tax or capital gains? What deductable expenses are allowed? The expected income is below £50k so I guess it will be tax 19% corporation tax? Thanks

Hi,

You can see guidance here:

Check if you need to pay tax when you sell cryptoassets

Cryptoassets Manual

You should also consider seeking professional tax advice.

​​​​​​​Thank you.