As the tax deadline fast approaches in the UK, those of you brave enough to have invested in the volatile world of cryptocurrencies, including Bitcoin, could be facing a hefty bill.
As much as Bitcoin, and other virtual currencies, may seem like a quick route to a fast buck, Her Majesty’s Revenue and Customs (HMRC) has warned that such gains are not out of the reaches of the taxman. Plus, given the recent volatility around Bitcoin prices, many investors may not even be aware of the tax owed on their cryptocurrencies.
This probably only applies if you got in & then out before the bubble burst.
Otherwise, maybe you could offset your losses against tax?
No comments:
Post a Comment