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Taxes FAQ

Do I have to pay tax?

Individuals who hold cryptoassets as a personal investment, usually for capital appreciation in its value or to make particular purchases will be liable to pay Capital Gains Tax when they dispose of their cryptoassets.

Individuals will be liable to pay Income Tax and National Insurance contributions on cryptoassets they receive from their employer as a form of non-cash payment, as well as cryptoassets received from mining, transaction confirmation or airdrops

If you are a company, or for more details in general, please visit the following UK government web page: https://www.gov.uk/government/publications/tax-on-cryptoassets

Important Note: Coinfloor does not provide tax advice and this material should not be considered as such. For further information regarding your specific situation, please consult with a tax professional.

 

What type of tax do I have to pay?

In the vast majority of cases, Capital Gains Tax.

Please visit this UK government web page that explains the above in more detail: https://www.gov.uk/government/publications/tax-on-cryptoassets

Important Note: Coinfloor does not provide tax advice and this material should not be considered as such. For further information regarding your specific situation, please consult with a tax professional.

 

What trades are taxable? 

Unless you are a day trader doing a large amount of trades, you will have to pay taxes if you reach a certain threshold. Trading from one cryptocurrency to fiat counts towards this, as well as from one cryptocurrency to another.

Please visit this UK government web page that explains the above in more detail: https://www.gov.uk/government/publications/tax-on-cryptoassets

Important Note: Coinfloor does not provide tax advice and this material should not be considered as such. For further information regarding your specific situation, please consult with a tax professional.

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