Andersen Tax

Not all advisors are created equal

What sets us apart

More than just tax and accounting advisors

Investing and trading in crypto has soared in recent years, and crypto continues to feature prominently in the news. Since 2008, crypto has gone from a niche experiment to a billion-dollar industry with the pace of development showing no sign of stopping.

At Andersen, we pride ourselves on our expertise in cryptoassets. All the team members have significant experience, not only in tax, but also in crypto. We are not just jumping on a bandwagon.

We are passionate about crypto in all its forms and will not question why you have crypto. We will want to know what crypto you have and discuss the latest developments.

Domestic and international structuring

We are a member firm of Andersen Global. With a presence in over 400 locations spanning 170 countries, we’re not just a network; we’re a family. This close-knit relationship forms the cornerstone of our unique approach to international structuring and an indispensable asset in the dynamic world of Web3. In today’s interconnected digital landscape, no Web3 project or investor is purely UK-based.

Our distinct approach hinges on our UK team taking the lead in crafting the blueprint solution for the full spectrum of cross-border tax issues that arise during a project. Leveraging our deep knowledge and expertise in international tax systems and planning techniques, and a comprehensive global tax law database, our UK team originates and writes the advice.

Our overseas colleagues are available to problem solve and review our conclusions and recommendations, making sure our advice aligns seamlessly with the specific nuances of their jurisdictions.

This collaborative, holistic approach results in a cohesive solution that benefits all parties involved, regardless of their location. It streamlines the process, reducing the need for repetitive research and consultations, resulting in significant cost savings.

Beyond that, we have strong relationships with an international network of contacts, businesses and organisations, all of whom are experts in digital assets, and can assist you to achieve optimum results.

HMRC enquiries

If you are reading this, you are likely interested in assistance with your tax. This may be because you have received a letter from HMRC, or it may be because you have heard that crypto is taxable.

HMRC has also been active in the crypto space with “information notices” being used to gather information from exchanges such as Coinbase. HMRC has also sent “nudge letters” and opened enquiries on crypto owners.

HMRC enquiries can be difficult and create uncertainty. They can be challenging to deal with and sometimes ask questions that lead to frustration on both sides. We have a wealth of experience in dealing with HMRC crypto enquiries and knowledge of how HMRC operates. This allows us to facilitate meaningful discussions with HMRC to resolve matters as quickly as possible. This understanding goes beyond just the crypto tax elements of any investigation.

If you are worried that you have tax to pay, we do a “health check” to review your circumstances and discuss any potential next steps with you.

HMRC may seek to charge penalties on any unpaid tax, and we can help you with any discussions.

Finally, if you haven’t received a letter but you know that you have tax to pay, it is better that you approach HMRC first. Providing voluntary disclosures can both provide more peace of mind and reduce any penalties that may apply.

Crypto investing – is it a modern-day Bandit Country?

We are here to help.

With an increasing number of scams preying on under-informed crypto investors, we offer the required educational protection to both novice and seasoned crypto participants to avoid their falling victim to deceptive schemes.

We cannot provide direct investment advice, but we are available to discuss potential risks of a particular trade, and help you navigate the crypto space to safely invest and trade with crypto.

Don’t get surprised by HMRC

While everyone wants to get their tax affairs in order, the complexity of the UK’s tax system means that can be easier said than done. Many crypto traders and investors are unaware of the tax implications arising from profits made through their activities, leading to a myriad of potential problems when filing tax returns with HMRC. HMRC market research showed that the majority of individuals that own, or had owned, crypto had not read the HMRC guidance.

Crypto continues to be in the press and in the minds of regulators. HMRC has previously used its powers to gather information from crypto exchanges and has been working with other tax administrations on crypto. International agreements such as the Crypto Asset Reporting Framework (CARF) from the OECD will increase the transparency of crypto.

HMRC will always seek to ensure that all concerned businesses and individuals pay the full amount of tax due from their crypto transactions.

Don’t put your head in the sand!

Investors and traders must make understanding their true tax obligations and liabilities a top priority and keep abreast of any future changes to the crypto tax regime. Professional advice from a specialist tax advisor and crypto accountant is the best way to achieve comprehensive answers to crypto tax queries, as well as to implement tailored solutions to achieve optimum tax efficiency.