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News Explorer — UK Treasury to Introduce Crypto Assets Category on Tax Returns

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Mar 17, 10:38 am

Cointelegraph

UK Treasury to Introduce Crypto Assets Category on Tax Returns

The U.K. Treasury is introducing a separate category for crypto assets in tax return forms, which will appear in 2024–25. The Chartered Institute of Taxation welcomed the changes, but noted the need for additional measures to counter the lack of understanding of tax payment and reporting requirements for crypto. The Financial Services and Markets bill is also being passed through Parliament, which will give the FCA new regulatory powers over the cryptocurrency industry.

The U.K. Treasury is introducing a separate category for crypto assets in tax return forms, which will appear in 2024–25. The Chartered Institute of Taxation welcomed the changes, but noted the need for additional measures to counter the lack of understanding of tax payment and reporting requirements for crypto. The Financial Services and Markets bill is also being passed through Parliament, which will give the FCA new regulatory powers over the cryptocurrency industry.

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