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UK Crypto Tax Changes Put Thousands at Risk of Fines or Jail
UK Crypto Tax Changes Put Thousands at Risk of Fines or Jail
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BTCCSquare news:
New tax guidelines from HMRC are set to impact UK crypto holders by the next tax season. Capital Gains Tax will apply when cryptoassets change hands—including swaps, sales, gifts, or purchases. Transactions under £3,000 remain exempt.
Lee Murphy of The Accountancy Partnership warns that even token-to-token swaps without fiat involvement trigger taxable events. Regulators are tightening scrutiny on undisclosed gains as markets rally.
Diligent record-keeping is now essential. The rules treat crypto as capital assets, mirroring traditional investment taxation frameworks.
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