Taxation of Cryptoassets - Current & Future Developments Explained

Introduction

This new webinar will look at how the UK taxes cryptoassets both in terms of exchange tokens or cryptocurrencies (e.g., Bitcoin) and utility tokens. Starting with more straightforward situations, this webinar will use real-life examples of client situations to assess HMRC’s current position and how the courts, in their first few decisions, appear to be shaping the legal nature of cryptoassets.

Following this, the webinar will look at HMRC’s recent guidance on lending and staking and highlight some of the key concerns this raises for professional advisors.

Finally, the webinar will look at possible future developments, particularly in light of the UK Government’s announcement that stablecoins will be brought within regulation to allow them to be used as a recognised form of payment.

It is aimed at professionals advising clients who have cryptoassets.

Attendees should already have a good knowledge of general UK income tax, CGT and IHT principles.

What You Will Learn

This webinar will cover the following:

• The UK’s current view to the taxation of cryptoassets, as set out in HMRC’s recently published manual
• The courts view on the nature of cryptoassets
• How HMRC’s recent guidance on lending and staking leads to serious problems for clients and their professional advisors
• What the future may hold and the possible consequences of the UK’s position on being a ‘crypto-friendly’ jurisdiction
• Practical advice for practitioners advising clients with crypto gains

This webinar was recorded on 24th May 2022