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Posted Thu, 19 May 2022 03:17:59 GMT by steviekipper
Hi, wondering if you may help me. If our ltd company invested funds into cryptocurrency assets during the financial year, and at the end of the year resulted in negative loss, can that loss be deducted from the 'overall' annual trading activity? So not treated seperately to the usual business trading activity fianances, and that investment loss be deducted from the total profit within the company that year to calculate the final corporation tax due? Many Thanks.
Posted Tue, 24 May 2022 10:04:09 GMT by HMRC Admin 10
Hi
Guidance on Crytpocurrency and in particular the impacts on Corporation Tax can be found in HMRC's Cryptoassets Manual (CRYPTO) at CRYPTO41000.
You can access the online using the following address:
Cryptoassets for businesses: Corporation Tax
Thankyou.
Regards.

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