HMRC have updated their guidance on checking whether CGT is due when cryptoassets are sold exchanged or given away. The changes add a link to separate guidance (at CG14530) on when market value should be used rather than acquisition cost for the purpose of calculating any gain. The ‘how to report and pay’ section now includes a link to HMRC’s Cryptoasset Disclosure Service and the ‘records you must keep’ section now includes a note on transaction reports provided by cryptoasset exchanges.
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HMRC have updated their guidance on checking whether CGT is due when cryptoassets are sold exchanged or given away. The changes add a link to separate guidance (at CG14530) on when market value should be used rather than acquisition cost for the purpose of calculating any gain. The ‘how to report and pay’ section now includes a link to HMRC’s Cryptoasset Disclosure Service and the ‘records you must keep’ section now includes a note on transaction reports provided by cryptoasset exchanges.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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