C6.140 Business taxation when there is a trade in cryptoassets
Cryptoassets (which might also be referred to as 'tokens' or 'cryptocurrency') are cryptographically secured digital representations of value or contractual rights1.
This article discusses when a business might be subject to tax in a situation where it is trading in cryptoassets. To decide whether the business is trading, see C6.105. For details of situations in which a company might be subject to corporation tax on capital gains on the disposal of cryptoassets, see C6.136.
For the definition of cryptoassets and cryptoasset transactions, see C6.103–C6.104. For a glossary of key terms associated with cryptoassets, see C6.102.
Trading in cryptoassets
Where transactions in cryptoassets amount to trading activities (see C6.105), the HMRC guidance in CRYTO40000 applies equally to all businesses whether incorporated or otherwise.
For VAT issues in cryptoasset transactions, see C6.145. For stamp taxes issues, see C6.130.
It is also worth noting that when trade in cryptoassets exists, HMRC only offers generic guidance in CRYPTO46000 as to whether such a trade
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