If you trade in Cryptocurrency and make a gain, you may be required to report that gain and pay tax known as Capital Gains Tax to HMRC.
Understanding how gains are calculated for tax can be tricky, there are various rules such as the "30 day rule" or "Bed and Breakfasting" which means you may be caught unaware of having a gain to report.
This really is an area which should be dealt with by a specialist.
We can explain how cryptocurrency is taxable and ensure that you are not caught unaware of any gains to report.
We also offer accounting services in order to easily establish whether you have made any gains, and whether they are subject to tax.
If required, we can prepare the calculations and submit them to HMRC, and notify you of any tax that is due.
Contact us today if you are unsure of whether you should be reporting your cryptocurrency trades, and we would be happy to help.