Author Liang CHE
Source: Than push bitpush.news,
More than news, the UK tax authority has issued tax guidance for businesses to supplement its previous guidance for individuals.
- XRP transaction analysis: illegal transactions of 400 million US dollars, accounting for only 0.2% of the total
- Technical Perspectives | Contract Upgrade for Python Smart Contract Tutorial
- BM's "Summer Vacation" is finally over, and Block.one releases EOSIO 2 candidate.
- Mind Reading: Extracting "Knowledge" from Zero Knowledge Proof
- The application of transaction cost theory in the blockchain industry
- Policy “ripens” blockchain application, China's number of landed projects increased by 110% in November
The guide clarifies the status of capital gains tax, corporate tax, national insurance, income tax and other taxes. The HMRC states that it generally does not consider cryptocurrencies such as Bitcoin as currency or "stocks or securities", which largely exempts stamp duty on these cryptocurrencies. However, according to the guidelines, tokens used for debt transactions are still subject to stamp duty.
HMRC also requires companies to keep records of cryptocurrency transactions in pounds sterling, and to keep valuation records of those transactions. It also wants businesses to record the amount spent on each type of transaction token.
HMRC previously issued a tax guide for cryptocurrencies targeted at individuals in December 2018, which clarified several tax issues related to airdrops, forks and mining. The 2018 guidelines also require individuals to keep records of sterling for each cryptocurrency transaction.
This year the British Financial Conduct Authority (FCA) also released a crypto asset supervision guide, which classifies real cryptocurrencies such as Bitcoin and Ethereum as "transaction tokens". Although applicable to anti-money laundering rules, it is not regulated .
Reprint must indicate the source.
Disclaimer: All articles in Bibei represent the views of the author and do not constitute investment advice. Investment is risky and risky.
