Cryptocurrency Tax UK

Cryptocurrency Tax Accountants | Capital Gains on Crypto

crypto tax advice since 2014

Cryptocurrency Tax UK

Since 2014, Harvex have been providing digital currency tax advice to individuals and companies. We are a leading specialist firm operating in the Cryptocurrency Tax UK and International sectors, providing cost effective solutions to clients of all sizes, but more importantly correct, reliable crypto tax advice.

Specialist Cryptocurrency Tax Advisors

Our Crypto Tax team are highly knowledgeable in the field. We’ve been providing advice and assistance from the early stages of Bitcoin through to the near mainstream adoption it has today. As accountants specialising in this asset class, our experience covers a wide scope such as Cryptocurrency tax for Individuals and Companies, for traders, investors, Capital Gains on Crypto profits, tax relief on digital asset losses, VAT, bitcoin taxes and taxation on those accepting virtual currencies as a way of payment.

Income Tax Return

Profits from cryptocurrency are likely to be taxable, how much can vary. Explore Harvex’s personal tax services.

Corporation Tax

Harvex have extensive experience completing corporation tax returns for crypto companies in a range of sectors.

VAT

Harvex can explain the correct VAT treatment of all cryptocurrency, including sales, purchases, trading and more.

Capital Gains

Capital Gains tax vs Income Tax is a frequent crypto tax question. Harvex can advise how your digital assets should be taxed, and when.
bringing clarity to evolving tax legislation

Crypto Tax UK

Owning, trading or accepting payment in crypto brings with it a whole new set of UK tax rules. As the world of cryptocurrency tax advances, Harvex have been at forefront of crypto tax related matters, advising clients in the UK, US, Malta and more.

Harvex have Crypto Tax UK Specialists inhouse and provide tax related services to traders, investors and corporate businesses. Our services cover completing your self-assessment tax return, income tax return, corporation tax return and specialised tax advisory services.

As the legislation evolves we are aware that there is conflicting advice both on the internet and generally through different publications. Our chartered accountants and crypto tax advisors can explain the correct treatment and provide you with peace of mind that you will not be stuck with a tax liability in years to come!

Whether this is bitcoin, Ethereum, less known Altcoins or indeed tokens we can help.

Tokens instead of Fiat

A lot of crypto advisors will have experienced this, with the value of the token increasing or decreasing. Harvex can tax this correctly.

Crypto Losses

Whether on a personal level or corporate level, if you are unfortunate to have crypto losses, Harvex can assist.

Issuing Crypto Invoices

Some businesses issue invoices in cryptocurrency, Harvex will advise on the correct taxation.

Crypto Loans

If you’ve lent or received money in crypto, we can make sure you’re not incorrectly taxed on the transaction.
bringing clarity to evolving tax legislation

Cryptocurrency Tax Questions

Let’s start with the common questions we get asked daily:

“ I trade all different crypto currencies and have a huge list of deposits and withdrawals on my wallet, going in and coming out. I have made some profits and some losses; do I need to pay tax? How is my cryptocurrency tax uk liability calculated?”

“ My business accepts Crypto/tokens as a way of payment, do we need to add VAT onto our invoices? Is this classed as turnover and what rate of tax do we pay?”

“ I mine Crypto and receive a fee for doing this, do I need to charge VAT? How do I declare my taxes?”

Gains on Cryptocurrency

“ I purchased some bitcoin 3 years ago and now it is worth a lot more, do I need to put this on my tax return? If I left this in my wallet would I need to pay tax? “

“ I won Crypto through an online casino/ betting site are my wins taxable?”

Cryptocurrency Tax Return

Whether any profit or gain is taxable, or any loss is deductible the transactions will need to be looked at on an individual basis and will very much depends on a variety of specific facts. The relevant legislation will be considered and used to ensure the correct tax treatment is given. Here at Harvex, we have the longstanding experience and knowledge to ensure your tax return is correct.

Exchange Trading Reports Tax

Here at Harvex we have worked with reports from almost every crypto exchange accounts. Send us your data and we can do the rest from analysis through to tax planning.

Tax On Unlisted Tokens or Coins

If you are holding an early stage crypto asset, the taxable value may be hard to define. Here at Harvex, we are used to dealing with crypto assets that are yet to list, and can inform you of the tax approach to use.

Taxes on Airdrops

Let Harvex ensure you pay the correct taxes on any airdrops you may have received, whether traded, sold, or hodled.

Cryptocurrency Bounty Hunter Tax

Crypto bounty hunting is growing in popularity – if you are one of these people, get in touch with Harvex to understand your tax position.
Tax on digital currency

Tax on Cryptocurrency UK

Cryptocurrency Tax UK HMRC

As with any business, if income is received (in any form) it should be subject to either Corporation tax, Income tax or Capital Gains Tax depending on the type of business and activity undertaken. There are a few acceptable ways to assess these gains and losses but these need to be assessed with due care to complete your self-assessment.

Harvex can help you tax plan so there are no surprises at the end of tax or financial year – if you have any questions please ask us!

Cryptocurrency Tax UK Gambling

In early 2018 there were many rumours and online stories about crypto gains being classed as tax free gambling winnings. Business related Cryptocurrency gains are not treated as Gambling winnings in the UK, this should not be used as an acceptable way to avoid tax. Harvex can correctly prepare your tax return for any crypto gains.

Crypto Tax USA | IRS

The IRS have released legislation targeting how to tax cryptocurrency in the USA. In general, all forms of crypto income is taxable in some form. Harvex and our partners have many US clients and we understand the requirements of US taxation.

Tax free countries for Digital Currencies

Depending on where you are a tax resident, you could find yourself in a crypto tax-free country. However, these jurisdictions are rare and you should not assume your digital asset is tax free income in your country. Harvex has an international presence and we can quickly assist you in the tax free status of your country.