How can people invest in cryptoassets safely? Does HMRC view crypto currency in the same way as the notes in our wallets?
Cryptoassets differ from money in the usual sense because they are not government regulated; that is not to say HMRC are unaware or disinterested in such activities. The world of cryptoassets is an exciting innovation, but many people start on the wrong foot due to lack of knowledge and not understanding what the risks are, such as fraud and organised crime. While there is nothing unlawful about holding cryptoassets, it is important to take advice in relation to taxation. If you take the decision not to disclose your holdings to HMRC, you could find yourself in hot water, fast.
In this session, Steven Murray of our Dispute Resolution team is joined by colleagues Sarah Woodall, Head of Tax, and Professor Dan Hyde, of our Investigation, Regulation and Tax team, to share some useful ways to address your investments in cryptoassets and how to avoid the pitfalls in taxation.
Watch this video to learn:
Cryptoassets – what are the different types, common misconceptions and key risks?
The practical steps for selling and receiving tokens
How HMRC views cryptoassets
The future of cryptoassets in taxation and regulation
This webinar is part of the Cyber Conference series.