HMRC has updated Chapter 3 (gift aid) of its detailed guidance notes on how the tax system operates for charities to clarify that cryptoassets must be converted into money before donations are eligible for gift aid. The guidance notes that HMRC does not consider cryptoassets to be currency or money, meaning that any donations of cryptoassets are not eligible for gift aid.
HMRC has updated Chapter 3 (gift aid) of its detailed guidance notes on how the tax system operates for charities to clarify that cryptoassets must be converted into money before donations are eligible for gift aid. The guidance notes that HMRC does not consider cryptoassets to be currency or money, meaning that any donations of cryptoassets are not eligible for gift aid.
