Crypto taxation - Accountant

[jamesbrown]

The only circumstances in which it wouldn't be subject to CGT would be trading income, in which case it may be subject to income tax.

Incidentally, the gain is most likely realized upon any transfer, not just from a crypto token to fiat, but from one type of crypto token to another.

[Lance]

The only difference I can think of perhaps is the authority's ability to know about crypto currency holdings?

they can't easily find out what you hold in a private wallet. It's where you turn it into fiat that's a problem.

[luxCon]

The only difference I can think of perhaps is the authority's ability to know about crypto currency holdings?

Some overseas exchanges have agreed to provide HMRC as well as other tax authorities with client and trade details.

Do your own research on what your exchange is doing. Certainly there has been a tightening of KYC across the crypto industry.

[Fred Bloggs]

There is nothing different between gains from Crypto to gains from other investment assets.

The only difference I can think of perhaps is the authority's ability to know about crypto currency holdings?

[Lance]

There is nothing different between gains from Crypto to gains from other investment assets.

that is my understanding also. Treat as a capital gain.

[luxCon]

I am looking for an accountant who is familiar with crypto taxation. Anyone have personal recommendation ?

There is nothing different between gains from Crypto to gains from other investment assets.

[bondboy203]

I am looking for an accountant who is familiar with crypto taxation. Anyone have personal recommendation ?