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U.K. Tax Authorities Targets Crypto Investors in Up-and-coming Budget Next Week
Summary: Her Majesty’s Revenue and Customs (HMRC) will target crypto investors in the up-and-coming budget next week. HMRC sees cryptocurrencies not as a currency but as investment assets and as such are subject to capital gain tax. The huge increases in Bitcoin in recent weeks will see HMRC take a keen interest where investors choose to ...
Her Majesty’s Revenue and Customs (HMRC) will target crypto investors in the up-and-coming budget next week.
HMRC sees cryptocurrencies not as a currency but as investment assets and as such are subject to capital gain tax. The huge increases in Bitcoin in recent weeks will see HMRC take a keen interest where investors choose to cash-in on that growth.
Some analysts predict a raft of tax increases. But more relevantly for crypto investors, this could mean a rise in their tax liability.
By Amy Liu
Tags: Budget,crypto investors,Tax Authorities,U.K.
Link: U.K. Tax Authorities Targets Crypto Investors in Up-and-coming Budget Next Week [Copy]
