News

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 …

gambling-and-tax-hmrc-day-traders-uk

Day Trading and Gambling

If day trading activities can sometimes be classed as speculative in nature, similar to gambling and, therefore, not taxable, you might be wondering how you might structure your activities to ensure that your day trading activities fall into the gambling category, making you tax free. We’d advise you not to …

the self employed day trader

The self-employed Day Trader

In this factsheet we outline the basic points to consider when HMRC guidance dictates that you are a self-employed day trader. Unless you decide to incorporate your day trading business and operate via a Limited company, then you will be a sole trader. Unlike operating a Limited company where the …