This article is a companion piece to Stephanie Webber’s Cryptoassets for individuals – what are the implications? In her article, Stephanie considered the tax implications for the individual of holding cryptoassets as an investment; here, I’ll look at the tax implications of buying, using and selling cryptoassets from the point of view of a person (an individual or a company) carrying on, or intending to carry on a business.

Suggested approach

In the absence of tax legislation relating specifically to cryptoassets, we must apply general principles with help from HMRC’s Cryptoassets Manual.

One way to approach this is to consider the questions below.