In the world of tax nothing stays the same for long. It is rare that a week goes by without HMRC updating guidance, issuing a consultation or making even a slight interpretation change to existing tax rules. Therefore, it was out of character for the tax authority to leave cryptocurrency guidance untouched for four years without so much as a tweak, especially as this market grew at an alarming rate in 2017.

Following outcry from confused accountants and tax advisers, HMRC finally listened to demands and updated its Cryptoassets for individual’s guidance on 19 December 2018, four years after the original publication date of 3 March 2014.