Search the ETC Tax Website

Request a callback

Callback Request

Please provide as much detail as possible in regards to the reason for your enquiry so our tax advisers can prepare and tailor their response to reflect your needs. We will endeavour to call you back to discuss your enquiry and you will not be charged for this time.

  • This field is for validation purposes and should be left unchanged.
  • Sign-up to our newsletter

    Newsletter Main Form

  • This field is for validation purposes and should be left unchanged.
  • Get in touch with us today

    Call or email us any time or, simply fill out the contact form below and a member of our team will be in touch.

    Contact Form


    Please provide as much detail as possible in regards to the reason for your enquiry so our tax advisers can prepare and tailor their response to reflect your needs. We will endeavour to - respond / call you back - to discuss your enquiry and you will not be charged for this time.

  • This field is for validation purposes and should be left unchanged.
  • Request a callback

    Contact Form


    Please provide as much detail as possible in regards to the reason for your enquiry so our tax advisers can prepare and tailor their response to reflect your needs. We will endeavour to - respond / call you back - to discuss your enquiry and you will not be charged for this time.

  • This field is for validation purposes and should be left unchanged.
  • What is an NFT?

    5 August 2022

    Alexander Wilson

    ‘NFT’ stands for ‘non-fungible token’.

    The original assets (or tokens) on blockchains (like Bitcoin) were ‘fungible’. That means that one is interchangeable with another. To help understand this we can give you an example; if you lend a tenner to a friend, you would not care whether that friend handed back to you the exact same tenner or a different one (or even a couple of fivers, though you might have a sharp word to say about a handful in shrapnel…).

    Pound sterling is ‘fungible’. Any one pound is treated the same as any other. It is no surprise then that a ‘non-fungible’ asset is the opposite: If you lend someone your car, when they return it, it had better be the exact same car! You don’t want a different car back, not even if it is the same make, model and colour (well… you might, if it was newer or cleaner… but you get the point).

    So, NFT’s exist on the blockchain, like fungible tokens do. They can be transferred between people like fungible tokens and be bought and sold.

    You’ve probably come across NFT’s in the form of so-called ‘art’ works, like bored apes, or crypto punks or floofy-floppy flip-flops or whatnot. Here, an NFT is associated with a work of art and acts as a sort of digital signature for that work of art. Only the holder of the NFT can claim to be the true owner of that piece of art, and the NFT proves it.

    NFT’s come in many shapes and forms, however. For example, some NFT’s are made to be used in games. Cryptokitties were one of the first NFT’s popularised. In this context, an NFT could represent a game character, an item or booster or anything at all.

    NFT’s now also grant ownership over a domain address. NFT’s may represent actual real-world assets. The potential uses for NFT’s are vast; one could easily see an NFT as representing a house, or plot of land or even an academic qualification. Around the World, governments and businesses are starting the explore the advantages of blockchain technology and the function of NFT’s will play a big part in that.

    Whether you are just getting started or have been investing in cryptocurrency for several years, our team of tax specialists can provide bespoke advice to support you to achieve your objectives in a tax-efficient manner. Please get in touch.

    Related Services