"HMRC has increased its focus on cryptocurrency holders in recent years and previously cited estimates that tax non-compliance among crypto investors could “range from as high as 55 per cent to 95 per cent”.
In general, anyone selling crypto assets is subject to capital gains tax (CGT) on profits above their annual CGT allowance (currently £3,000). However, in circumstances where HMRC considers buying and selling crypto assets to be “trading”, they can be subject to income tax and national insurance."
FT.com
I hear that some people will be getting letters shortly to remind them of their responsibilities.
In general, anyone selling crypto assets is subject to capital gains tax (CGT) on profits above their annual CGT allowance (currently £3,000). However, in circumstances where HMRC considers buying and selling crypto assets to be “trading”, they can be subject to income tax and national insurance."
FT.com
I hear that some people will be getting letters shortly to remind them of their responsibilities.
