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 05/06/2021 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

Unipart Group has used Ortolan Legal’s services to supplement our in-house legal team for a number of years. We keep coming back to them because their unique combination of experienced, high quality lawyers at extremely cost-effective rates sets them apart from other law firms. It also has to be said that their team are personable, highly commercial and very responsive. I would recommend them without reservation.

Richard Collins, Group Legal Director Unipart
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…