Ben Lee comments on UK crypto regulation in the FT
Ben Lee, Crypto Tax Partner, comments on the tax implications of the TSC’s report proposing that crypto be regulated as gambling, in the Financial Times.
Ben’s comments were published in the Financial Times, 19 May 2023.
“Winnings from gambling are generally tax free, and the report is conspicuously silent on the possible impacts that this may have on the established approach to the taxation of cryptoassets.
“HMRC has sought to educate investors that cryptoassets are not tax free, and this may create uncertainty as to whether this position is still correct.”