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Posted Fri, 18 Oct 2024 08:56:23 GMT by Ruta Svo
Hello, I have a question regarding the VAT treatment of NFT sales. If a company based in the EU sells NFTs to both B2B and B2C customers in the UK, are these sales subject to VAT? Are there any exemptions applicable in this context? Additionally, is VAT registration required for such sales? As I understand, the UK classifies the sale of NFTs as a taxable supply of digital services. Thank you for your insights!
Posted Mon, 21 Oct 2024 11:58:50 GMT by HMRC Admin 19 Response
Hi,
Presently, the only guidance relating to NFT's is as below:
CRYPTO45000 - Cryptoassets for businesses: Value Added Tax (VAT)
You can see guidance outling the treatment of digital services to consumers and businesses here:
Reverse charge
The place of supply of digital services
Thank you.

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