Cryptocurrency and Other Digital Assets

<div>The topic of crypto assets is broader than it may at first appear, requiring the application of tax principles to a new and developing set of circumstances.&nbsp;<div><br></div>The author, a tax barrister with experience in this field, tackles the issues under the following broad headings:</div><div><div style="font-weight: bold;"><b><br></b></div><b>Introduction</b><br><div><ul><li>Terminology and first principles</li><li>Basis of taxation</li></ul></div></div><p class="MsoNormal"><b>Individuals</b></p><ul><li></li><li>Investment</li><li>Trading</li><li>Miscellaneous income</li><li>Inheritance tax</li><li>Residence and domicile</li></ul><p></p><p class="MsoNormal"><b>Corporate ownership</b></p><p class="MsoNormal"></p><ul><li></li><li>Investment</li><li>Trading</li><li>Miscellaneous income</li><li>Planning for non-domiciled individuals</li></ul><p></p><p class="MsoNormal"><b>Other holding structures</b></p><p class="MsoNormal"></p><ul><li></li><li>Trusts</li><li>Pension schemes (including QNUPS)</li><li>Other structures</li></ul><p></p><p class="MsoNormal"><b>Other considerations</b></p><p class="MsoNormal"></p><ul><li>Means of exchange</li><li></li><li>VAT</li><li>Administration and compliance</li><li>Specific scenarios</li></ul><div>Andy Wood trained with Ernst &amp; Young in London and then worked with Grant Thornton in Manchester. He qualified as a Chartered Tax Adviser in 2003 and, shortly afterwards became a member of STEP. Today he is an experienced tax adviser and barrister, and is founder and director of specialist tax advisory firm ETC Tax.</div>