Capitax Financial is an independent and forward-thinking firm of Chartered Accountants, Tax Consultants and Business Advisors based in North West London.
They provide a full range of accounting, tax and business services to a wide range of UK and International clients, whether they are private individuals, entrepreneurs, investors, families, partnerships or corporate clients. They have a wealth of expert knowledge and experience, which enables them to provide the highest quality bespoke tax and financial solutions designed to cater for their circumstances and unique needs. They are made up of an enthusiastic team of qualified professionals who work passionately in partnership with their clients.
They provide a personal, tailored approach to managing clients, which ensures you and your business benefit from the best service delivery.
As the popularity of cryptocurrency is constantly increasing, the Capitax team have ensured that they are fully up to speed on the taxation and accounting of cryptocurrencies. And they provide you with valuable and pro-active advice relating to any tax implications on your cryptocurrency trading activities regardless of whether you are mining, trading, yield farming or you are new to the crypto game.
Cryptocurrency, being a new medium of exchange, has been seen by most investors as an opportunity of investment in the hope of realizing gains through investing, trading, yield farming, airdrops or mining.
But, as long as cryptocurrencies remain legal in the UK, they will also have tax implications.
Her Majesty’s Revenue Commission (HMRC) taxes cryptocurrency in the same way as any other investment. Therefore, any income or gains made relating to cryptocurrency will be subject to income tax, capital gains tax or corporation tax.
It’s worth having a trusted partner on side to ensure you remain compliant with your cryptocurrency investments.