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Question

How crypto is taxed uk?


Answers (1)

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Arsalan Afzal
Feb 03, 2022 03:12:13

Cryptocurrencies are currently treated as property for tax purposes in the UK. This means that any profits made from selling or exchanging cryptocurrencies will be subject to capital gains tax. If you hold cryptocurrencies for more than a year, the profits will be taxed at the long-term capital gains rate of 10%. If you hold them for less than a year, the profits will be taxed at the short-term capital gains rate of 20%. You may also be liable to pay income tax on any cryptocurrency payments you receive, and VAT on any goods or services bought with cryptocurrencies. For more information, please see the HMRC website.

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