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Posted Sat, 05 Oct 2024 22:27:55 GMT by Graham
I receive regular gifts in the form of cryptocurrency from a friend who is based overseas. Am I required to declare these amounts as income? Or would it just be Capital Gains Tax that I would be liable for whenever I sell?
Posted Mon, 14 Oct 2024 08:22:44 GMT by HMRC Admin 19 Response
Hi,
There are no Income Tax implications regarding the gift of crypto that you receive and they do not need to be declared.
As you are aware, if you dispose of the crypto, then you may be liable to pay Capital Gains Tax.
Thank you.
 

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