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Personal Taxation - Investments in Cryptocurrencies

Personal Taxation – Investments in Cryptocurrencies

By on December 21, 2018

The HMRC recently published a new policy paper termed “Cryptoassets for Individuals” This is in line with our paper on Personal Taxation – Investments in Cryptocurrencies reproduced below: The guidance identifies three possible treatments for profits on cryptocurrencies: 1. Trading profits which will be subject to income tax; 2. Highly speculative transactions which are treated […]

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Accounting for Initial Token Offerings – Revenue or Liability Recognition

Accounting for Initial Token Offerings – Revenue or Liability Recognition

By on December 10, 2018

Most companies which launch Initial Token Offerings (ITOs) want to avoid classification of their tokens as equity to avoid problems with the regulatory authorities. Therefore, assuming that the offering is liability financing rather than equity financing, the exchange of value must be properly recorded on the issuing company’s financial statements. The ledger entry would have […]

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Accounting for Cryptocurrencies

Accounting for Cryptocurrencies

By on November 26, 2018

Original article has been written by Tony De Nazareth, CEO and Director of Crowd for Angels who is a Fellow of the Institute of Chartered Accountants in England and Wales, and an Associate Member of the Association of Corporate Treasurers.   There has been little or no information on the accounting treatment of cryptocurrencies or Initial […]

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