Cryptocurrency Accountants


Read here about how HMRC are requesting data from the exchanges

Unlike many accountancy firms in the UK we are taking on cryptocurrency tax clients and have been doing so since 2017. Cryptocurrencies are becoming increasingly popular as part of an investment portfolio for individuals. Despite this; the tax treatments are not commonly known and it is always important to have an understanding of tax before making such investments.  HM Revenue & Customs (HMRC) issued more comprehensive guidance in December 2018, which can be found here. This follows our interpretation of the taxation laws for cryptocurrencies before HMRC published this document.

With not many accountants wishing to offer cryptocurrency accountancy services, we have had numerous enquiries from all around the UK and further afield regarding the UK cryptocurrency market and tax treatment. Most days we are hearing from individuals seeking advice about the cryptocurrency market and assistance with their HMRC compliance.

Our team are found here and are all based at our address in the UK.  We do not support outsourcing unlike some other firms.

UNFORTUNATELY DUE TO THE AMOUNT NEW CRYPTOCURRENCY CLIENTS, WE ARE NOT TAKING ON ANY FURTHER  CRYPTO WORK AT THIS TIME.  WE WILL REVIEW THIS IN NOVEMBER.

 


We have specialist tax advisers who are able to answer your queries regarding the cryptocurrency market and taxes.

Depending on your activity (mining, investing, arbitraging, etc.) you may have to pay taxation at income tax rates, capital gains tax. It is also possible for the transaction to potentially qualify as being exempt from taxation altogether. VAT may also need to be considered depending if on whether you are deemed to be trading as a business.

Which cryptocurrency activities you are engaging in will depend on what type of structure you may wish to adopt.

Keeping good records of the cryptocurrency transactions is vitally important and will keep our fees lower. We will let you know what data is required to be kept.


If you hold or are looking to buy cryptocurrencies (like Bitcoin, Ethereum, Litecoins, Ripple, Monero, Dash, Zcash, etc.) and have any doubt on the taxation treatment we will help advise you. We will not only process your data for HMRC but will also make recommendations with regards to whether you should consider making any relevant disclosures of your cryptocurrency dealings to HM Revenue & Customs when completing the appropriate Tax Returns.

We are able to offer fee protection service, which would cover our fees in the event of an HMRC enquiry for extra peace of mind. If you would like more information about this optional service, please let us know. We will provide you with the policy details and exclusions to review.

Aug-19 -> HMRC seek data from exchanges

Dec-18 -> Updated HMRC guidance

Oct-18 -> Cryptoasset Taskforce report

HMRC Badges of Trade

HMRC briefing note 2014




 
 


Client Testimonial

After my first year of investing in cryptocurrencies I found myself in a bit of a mess. I had a bunch of exchange exports and screenshots from ico’s and wondering how I’d manage to work out what I owed in tax. I didn’t have much luck with the online tools, attempting to contact local accountants usually gave the “what are cryptocurrencies?” response.

Thankfully I came across Rawlinson Pryde, and after emailing them for advice I was contacted by them. They were really helpful in explaining exactly what I owe.

They advised the format which would make it the cheapest for me, but also gave me the option of giving them the raw files to sort it all out, which was worth the extra considering the mess I had to sort. Was a relief just to be able to send them everything i had and have an expert making sure it was done correctly. I found them to be professional throughout, quick to respond, even out of office hours, and generally made sure I understood everything despite being completely clueless when it came to anything tax related. They even sent off my tax return on my behalf, so all I have to do now is pay the bill.

Highly recommend and will definitely be using again.



Client Testimonial

This was my first experience of having to pay capital gains with the extra complexity of crypto currency gains. After getting bad advice from a local accountant, Rawlinson Pryde helped me through this period of high anxiety with a cool head and very understanding nature. Look no further for an accountant that actually knows what they are doing with crypto gains (or losses!) and sleep easy at night knowing you’re doing the right thing.