Bitcoin and the taxman

While the value of Bitcoin has dropped significantly since the start of the year, the overall market continues to grow, writes Matthew Morris, director at Carr Consulting & Communications.

More people than ever are aware of, and are speculating on, cryptocurrencies like Bitcoin. Mark Carney: Crypto-assets do not pose risk to global financial stability While investment professionals would be brave to offer official advice on how and where to speculate, it is worth being aware of events to handle questions from clients. One crucial area to understand is tax. The last significant Inland Revenue guidance on crypto was issued in 2014 and it still applies now, although it is likely we will hear more before the tax year end in April. For tax purposes it is simpler to bre...