Live Webinar (if a future date is listed) with Q&A
The Recording of the Event
Supporting Materials
Objectives
To understand and apply the basics of reporting Crypto income and gains.
Key Topics
Basics of Crypto Assets – What is “crypto”? We have a brief look into what constitutes as a crypto asset, the difference between a coin and token, what a blockchain is and the underlying technology that makes it special. We will use and explain terminology within the realm of crypto.
Income tax and Capital Gains tax – We will breakdown the different streams and types of income/gain an individual may have and talk about which regime they will fall under. We will also discuss how certain situations have both income tax and capital gains tax implications as well as how to deal with this. The use of software and how dangerous it is to assume no adjustments are needed. Some tax planning opportunity for rewards, incorporating the assets and negligible value claims.
NFT’s – What is an “NFT”? We will discuss how this differentiates to a crypto token or coin, how the bed and breakfast rules are applied here and why pooling may not be applicable.
Reporting on SA100 – The fundamentals of reporting the data collected on an individual tax return, whether the trading allowance is appropriate and common pitfalls/misconceptions.
Who Should Attend
Managing partner, partners, manager, finance partner and aspirational fee earners.
