HMRC Admin 8 Response
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RE: Crypto self assessment
Hi,
Guidance on cryptoasset taxation is available online at Cryptoassets - GOV.UK (www.gov.uk), which also includes link to our more detailed guidance and link to a short video explaining how cryptoassets transactions are taxed for individuals.
Individuals holding cryptoassets as a personal investment would generally be subject to Capital Gains Tax on the gains they make when disposing of the asset. Disposal can include, for example, selling cryptoasset for money, swapping one type of cryptoasset for another, using cryptoassets to pay for goods or services, or giving cryptoassets away. Please note that cryptoasset services providers, including cryptoasset exchanges, are not required to collect Capital Gains Tax from their users on behalf of HMRC.
Individuals would generally be subject to Income Tax and National Insurance Contributions on cryptoassets which they received from other means, for example, from their employer as a form of non-cash payment for their employment.
Individuals may also be liable to pay Income Tax on income generated from cryptoasset-related activities, such as mining and staking rewards.
Please see the guidance for further details.
The tax treatment of cryptoassets can be a complex area, and you may wish to consider obtaining professional advice.
Thank you
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RE: Property Aboard
Hi,
Please see the following link:
How Inheritance Tax works: thresholds, rules and allowances
Thank you
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RE: Tax relief on legal costs as a sole trader
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RE: Partnership tax return
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RE: Expenses against two different types of job and P45 without tax deduction
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RE: Last year's self-assessment
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RE: Do I need to file late SA Tax Return if I wish to pay voluntary class 2 NIC for previous year
Hi,
Please see the following link:
Pay voluntary Class 2 National Insurance contributions if you do not pay through Self Assessment
Thank you -
RE: Mileage Allowance Relief - Haven't claimed through employer
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RE: Interest on Early Personal Tax Payments
Hi 4964matthewc,
Please see the following response given on this forum:
is the repayment supplement (interest) received from HMRC taxable?
Thank you.