General Tax

HMRC confirms its position on cryptocurrencies

HMRC have finally published a Policy Paper, together with guidance, explaining how individuals who hold cryptocurrencies will be taxed. Previously, the only information published by HMRC was their 2014 Brief and an overview of the Capital Gains Tax aspects published in their manual. The Policy Paper published on 19 December …

How are profits made from trading Bitcoin taxed in the UK?

Recent months have seen high price volatility in the cryptocurrency market. But even JP Morgan boss Jamie Dimon has said that he regrets calling Bitcoin a “fraud”; now saying that he believes that blockchain technology is “real”. Cryptocurrencies and the technology that underpins them are here to stay in one …

day-trading-tax-when-losses-exceed-profits

Are Day Trading losses tax deductible?

What happens if your day trading activities result in a loss? If your day trading activities have resulted in a loss, there is the possibility that your losses could be tax deductible. You may be able to offset losses against either capital gains or other income. Whether a trader has …