Course description
Until cryptoassets, the UK had not dealt with how to tax a major new asset class for several generations.
The resulting confusion often means taxpayers are overly bullish - it is still not uncommon for clients to assume cryptoassets are somehow tax-exempt - or overly conservative, especially given HMRC’s guidance which is in many cases quite dubious.
This virtual classroom seminar, aimed at those advising UK individual taxpayers, will cover how the UK taxes cryptoassets, how to avoid the tax pitfalls when it comes to transacting in and holding cryptoassets, and where the individual taxpayer can deviate from HMRC’s view, should they wish to do so.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Until cryptoassets, the UK had not dealt with how to tax a major new asset class for several generations.
The resulting confusion often means taxpayers are overly bullish - it is still not uncommon for clients to assume cryptoassets are somehow tax-exempt - or overly conservative, especially given HMRC’s guidance which is in many cases quite dubious.
This new virtual classroom seminar, aimed at those advising UK individual taxpayers, will cover how the UK taxes cryptoassets, how to avoid the tax pitfalls when it comes to transacting in and holding cryptoassets, and where the individual taxpayer can deviate from HMRC’s view, should they wish to do so.
What You Will Learn
This live and interactive course will cover the following:
- How income tax, capital gains tax, and inheritance tax apply to cryptoassets
- How stamp taxes apply
- How to avoid the common tax pitfalls
- When crypto transactions might be considered (non-taxable) gambling, notwithstanding HMRC’s view to the contrary
- Where cryptoassets are situated for UK tax purposes, and why HMRC’s view on this is wrong
- When cryptoassets might be currency for tax purposes, and the tax effects of that
- How decentralised finance is taxed, and how to challenge HMRC’s views on this
- If a taxpayer deviates from HMRC’s view, how (if at all) they should report this on their tax returns?
- The principles to apply when valuing cryptoassets for UK tax purposes
- Whether a crypto-trading business can qualify for business property relief from inheritance tax
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...