Cryptoassets

Keeping Compliant

HMRC are actively enquiring into crypto businesses, traders and investors to ensure that those involved in cryptocurrency pay their fair share. Ensuring cryptocurrency businesses, traders and investors are structured properly is paramount to keeping tax-efficient and remaining compliant with HMRC.

If you have an undeclared tax liability, we would strongly recommend that your affairs are brought up to date at the earliest opportunity.

Tax Efficient Planning and Structures

ETC Tax have advised individuals and businesses on how the may plan for their future liabilities and continue to develop bespoke strategies for our clients. Some examples of this include:

• Maximising reliefs for investors and businesses which may not have been considered in the context of cryptocurrency
• Restructuring their activities so they are taxed more efficiently and / or to meet their own personal and commercial objectives
• Establishing overseas structures to facilitate taxpayers who wish to leave the UK and remove any exposure to UK tax on cryptocurrency

Residency and Domicile Issues

ETC Tax work closely with international clients or those who wish to move abroad to make use of favourable foreign schemes such as the Portuguese Non-Habitual Residence (“NHR”) scheme which offers favourable tax treatment of cryptocurrency. 

long-term residents and International clients with ties to the UK need to ensure that their affairs are reviewed and they do not inadvertently fall foul of the UK tax rules.

Unique and Complex Issues

ETC Tax are familiar with the underlying nature of cryptocurrency and DLT allowing us to manage more unique and complex cryptocurrency issues whose tax treatment is ambiguous with the latest being a detailed review of an NFT based gaming platform.

Cryptocurrency investors, traders and businesses need to remain compliant with HMRC as HMRC are enquiring into cryptocurrency-based activities. ETC Tax has helped numerous clients keep tax-efficient and compliant so get in touch!