CryptoLord
Fri Mar 29 2024
|
5 answers
654
Does Kraken inform HMRC?
Could you please clarify if Kraken is obligated to notify HMRC? I understand that Kraken is a significant cryptocurrency exchange operating in the UK, and as a financial institution, it may have certain reporting requirements. However, I am not entirely certain about its specific obligations regarding HMRC. Could you please provide some insight into this matter? It would be helpful to understand if Kraken is required to share information with HMRC, and if so, under what circumstances and what type of information is typically disclosed? Thank you for your assistance in clarifying this matter.
Leonardo
Fri Mar 29 2024
|
5 answers
1259
Can HMRC tax crypto?
Good day, I am a long-time cryptocurrency investor and trader. As I understand, the tax regulations in the UK have become increasingly strict regarding cryptoassets. However, I am still somewhat confused about the specific details. My question is: can HMRC tax crypto? If so, how do they calculate the taxable amount? Do they consider the entire value of the cryptoasset at the time of sale, or do they take into account the fluctuations in value over time? Also, are there any specific tax regulations or guidelines that I should be aware of as a crypto investor? Thank you for your time and assistance.
