Cryptoassets - Identifying and Dealing with Taxable Transactions

Objectives

In this session, we will go through where we are with both guidance and legislation relevant to the taxation of cryptocurrency transactions, with practical tips for obtaining information from clients and then processing it for tax purposes.

Key topics

The webinar will include:

• Crypto jargon (coins, tokens, NFTs and DeFi) and bringing it back to tax
• Application of Professional Conduct in Relation to Taxation (PCRT)
• The current view from HMRC and the guidance that is available
• Identification of relevant tax legislation
• Consideration of the line between trading and investing
• Income and capital gains tax consequences
• Negligible value claims
• Inheritance tax considerations
• Residency and domicile issues
• Record keeping
• AML and PI considerations
• Practical examples

Who should attend

Individuals responsible for personal / private client tax affairs.