HM Revenue & Customs (HMRC) has published guidance on how individuals possessing cryptoassets may be taxed.

Cryptoassets are a relatively new type of asset that have become more prevalent in recent years. New technology has led to cryptoassets being created in a wide range of forms and for various different uses.

Published in December 2018, the guidance covers:

  • what cryptoassets are
  • which taxes apply to individuals holding cryptoassets
  • record keeping requirements
  • how cryptoassets received as earnings are taxed.