C6.145 VAT and 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 the VAT treatment of supplies relating to cryptoassets. For details of the direct tax issues, see C6.105.
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.
VAT treatment of supplies relating to cryptoassets
VAT is due in the normal way on any goods or services sold in exchange for cryptoasset exchange tokens2.
HMRC accepts that the exemption under VATA 1994, Sch 9, Group 5 item 1 applies for3:
- Ìý
•ÌýÌýÌýÌý charges for arranging any transactions in exchange tokens
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