Author Liang CHE
Source: Than push bitpush.news,
- Babbitt column | The contours of the next round of payment changes: the road to break through digital currency payments
- 2019 World Blockchain Conference· Wuzhen first day highlights highlights
- Bitcoin skyrocketed by more than 40% overnight, and the market value of the six categories of public chains accounted for more than 80%. Where did the core value come from?
- Research Report | Blockchain Enabling Commodity Traceability and Anti-Counterfeiting
- US lawmakers: If Facebook can use Bitcoin directly, there will not be so much trouble.
- Former director of the Central Bank Financial Research Institute: Calling for the first test of digital currency in Dawan District
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 .
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