{"id":4222,"date":"2021-05-06T04:00:00","date_gmt":"2021-05-06T04:00:00","guid":{"rendered":"http:\/\/im-21775"},"modified":"2023-01-11T11:11:18","modified_gmt":"2023-01-11T11:11:18","slug":"cryptoassets-for-individuals-taxes-that-apply","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/cryptoassets-for-individuals-taxes-that-apply\/","title":{"rendered":"Cryptoassets for individuals &#8211; taxes that apply"},"content":{"rendered":"<p>In most&nbsp;cases, individuals hold cryptoassets (such as Bitcoin) as a personal investment, usually for capital appreciation in its value or to make purchases. They will be liable to pay Capital Gains Tax when they dispose of their cryptoassets.<\/p>\n<p>This includes:&nbsp;<\/p>\n<ul>\n<li>selling tokens<\/li>\n<li>exchanging tokens for a different type of cryptoasset<\/li>\n<li>using tokens to pay for goods or services<\/li>\n<li>giving away tokens to another person (unless it is a gift to your spouse or civil partner)<\/li>\n<\/ul>\n<p>If the taxpayer&rsquo;s activity is trading, then Income Tax will take priority over CGT and will apply to profits (or losses).<\/p>\n<p>Individuals will be liable to pay Income Tax and National Insurance Contributions on cryptoassets which they receive from:<\/p>\n<ul>\n<li>their employer as a form of non-cash payment<\/li>\n<li>mining, transaction confirmation or airdrops<\/li>\n<\/ul>\n<p>There may also be cases where an individual is running a business which is carrying on a financial trade in cryptoassets and will therefore have taxable trading profits.<\/p>\n<div style='font-size:smaller' class='im_source'>Source: HM Revenue &#038; Customs   Wed, 05 May 2021 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In most cases, individuals hold cryptoassets (such<\/p>\n","protected":false},"author":1,"featured_media":4223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[147,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cryptoassets for individuals - taxes that apply - One Accounting<\/title>\n<meta name=\"description\" content=\"In most cases, individuals hold cryptoassets (such\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oneaccounting.co.uk\/cryptoassets-for-individuals-taxes-that-apply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptoassets for individuals - taxes that apply - One Accounting\" \/>\n<meta property=\"og:description\" content=\"In most cases, individuals hold cryptoassets (such\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oneaccounting.co.uk\/cryptoassets-for-individuals-taxes-that-apply\/\" \/>\n<meta property=\"og:site_name\" content=\"One Accounting\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-06T04:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T11:11:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2021\/05\/5086edbd-0384-4d77-adbf-5f29fccae5be.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/cryptoassets-for-individuals-taxes-that-apply\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/cryptoassets-for-individuals-taxes-that-apply\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3\"},\"headline\":\"Cryptoassets for individuals &#8211; 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