Advising a taxpayer on crypto gains

We recently advised a taxpayer working for a software development company which was the primary developer of a well-known crypto currency.

The taxpayer received this currency at a pre-market price and reduced the holding during the year, realising large gains. The tax payer also made modest gains from sales of other crypto currencies.

We provided advice on the Capital gains Tax resulting from these transactions and prepared the clients tax return disclosing these gains, as well as other income, which was subsequently submitted to HMRC.