Tax On Cryptocurrency? – Here’s All You Need To Know

I’m sure plenty of you have heard of cryptocurrency, especially the popular variants of Bitcoin, Ethereum, Litecoin and Cardano to name but a few. In fact, there’s thousands of different coins and tokens in circulation, with new ones created every single day.

Cryptocurrencies are decentralised digital currencies, meaning they don’t rely on banks or central authorities to record transactions and issue new units, much like standard FIAT money such as Pounds, Euros and Dollars.

Transactions are recorded through distributed ledger technology, with the most common form of this being blockchain.

This makes it practically impossible to imitate, counterfeit or double-spend. The tax laws surrounding cryptocurrency can be volatile, subject to change and extremely hard to predict. Much like cryptocurrency itself.

Get in touch and speak with one of our team who will be able to help you with this minefield by emailing over or calling us on 020 8530 0720.