Why You Need A Crypto Tax Accountant
You should consider a dedicated crypto tax accountant if you especially conduct these activities:
- Actively trade in cryptocurrency
- Accept payments from customers in cryptocurrency
As crypto becomes more popular, HMRC have become more aggressive in their approach to the tax side of cryptocurrency. Depending on how it is used, crypto can be subject to income tax or capital gains tax, with many people now coming under fire as a result of HMRC’s new avoidance legislation.
Our expert team of accountants and specialist cryptocurrency tax advisers are here to support you with a range of crypto tax services.
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How Our Accountants Help
Crypto Tax Accountants Services
Our team of professional and highly qualified crypto tax accountants can help manage make this process for you easy and simple.
At M J Kane, we can provide:
• One-off specialist advice on your situation
• Bespoke Reports
• HMRC registrations for individuals and businesses who trade crypto
• Production and submission of company/personal tax returns that include crypto-asset profits and gains.
You can get started with our Crypto Tax Services by arranging a consultation with our team via our contact form.
Alternatively, for urgent queries please call us at: Tel: 028 9335 0290
What Should I Expect With MJ Kane’s Initial Crypto Tax Consultation
At M J Kane, we can provide assistance with ensuring that crypto transactions are tax efficient and advising on the implications of crypto asset activities.
What is included in my 15-minute advisory phone call
During your advisory phone call you will be in a position to ask one of our Crypto Tax Specialists any questions you may have regarding tax advice and crypto currency.
You will be provided with bespoke advice unique to your circumstances.
The call will include advice on tax planning and tax saving to ensure that you get the best savings out of your investment.
You will be provided with a report based on the phone call detailing the advice our specialist recommends.
This call will be more than a consultation and will provide you with bespoke, exact tax advice unique to your situation.
You can book a 15-minute conversation with one of our Experts now!
Do I need to report my Cryptocurrency on my taxes
Yes, your cryptocurrency is taxable. HMRC considers cryptocurrency holdings to be a taxable income. The rate your currency income is taxed on will vary depending on the way you receive the income.
Are paper gains taxable?
Unrealized gains. Gains that are “on paper” only are called “unrealized gains.” For example, if you bought a virtual asset for £10 and it’s now worth £12, you have an unrealized gain of £2. You won’t pay any taxes until you sell the asset or transfer it.
Can HMRC track Crypto?
HMRC may investigate your tax affairs if you have invested in cryptoassets, cryptocurrency, and virtual currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Zcash (ZEC) and Ripple (XRP).
Are There Crypto Tax Reporting Softwares and Tools in the UK
There are numerous cryptocurrency tax softwares available in the UK and accurately consider UK tax consideration. Koinly Crypto Tax Software is strong consideration for being one of the most user friendly and easy to use crypto reporting tools.
Other Crypto Resources You Might Be Interested In
At MJ Kane, we pride ourselves in the years of industrial expertise within the crypto sphere and UK tax. Delivering award winning services to thousands of businesses and individuals across the globe. Learn more about other crypto tax guides and services.
• What Are Crypto Accountants in The UK?
• Crypto Bookkeeping Guide
• Crypto Tax Advice For Individuals
• Crypto Tax Advice For Companies
• How Is Crypto Taxed in the UK?
Koinly – Crypto Tax Tool
In need of any of our services? Please feel free to get in touch.
Why MJ Kane As Your Crypto Accountants
8000 plus satisfied clients
100+ years combined industry experience
30+ Countries covered
Fixed Fee Service
Tax efficiency focused
Award winning services
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Team
Meet the Senior Management Team
Michael Kane
Founder | Managing Partner
SME Accounts | Tax Planning | Business Development
FCCA Qualified
MJ Kane
Director | Senior Accountant
SME Accounts | Crypto Taxation | Business Structuring
ACCA Qualified | BSc Hons Accounting
Jonathon Greenaway
Director | Senior Accountant
SME Accounts | Property Capital Gains | Inheritance Tax
ACCA Qualified | BSc Hons Business Studies
Gary Craig
Joining Soon
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