HMRC publishes cryptocurrency manual

HMRC has published its first cryptocurrency manual, written for HMRC staff, but helps give some understanding as to the “tax implications that can arise from transactions involving crypto assets” - and suggests that if individuals receive crypto assets as a form of non-cash payment they are liable to pay income tax and National Insurance contributions.

Additionally, a section for crypto holdings has also been added to HMRC's "statement of assets" form which those being investigated by HMRC are asked to complete. Capital gains tax is currently due if any gains (including that of cryptocurrency) exceed the annual allowance of £12,300.

Posted on 6 May, 2021 by Ortolan

Get in Touch

If you would like to know more about Ortolan Legal and how we can help you reduce your ongoing recruitment costs, get in touch!

Email us now

   Or call 020 3743 0600

Ortolan Legal have supported us with some very tricky tribunal issues. They are very commercially focussed and truly understand our business. They give really commercial, practical advice which supports our business.

Sharon Eley, Shared Services Director, National Car Parks Limited
See All
Receive news & updates from Ortolan Legal

Meet the Team

  • Nick Benson Nick Benson I qualified as a commercial and corporate solicitor…
  • Liz Delgado Liz Delgado I qualified as a solicitor in 1995 after studying…
  • Carrie Beaumont Carrie Beaumont I qualified as an Employment specialist in 2008. I…