Expertise

Crypto Tax Advice For Companies

Get Advice

Do You Have To Pay Taxes on Crypto?

MJ Kane Accountants are among the leading Crypto tax accountants in the UK. Helping businesses across a wide array of Cryptocurrency tax-related issues. This has ranged from basic compliance to some highly complex Crypto tax issues. MJ Kane is the right place to look for crypto tax advice for companies.

HMRC have started to actively enquire and are working with many well-known Crypto platforms and exchanges to ascertain who may have tax to pay on their Cryptoassets.

With the significant increase in Cryptocurrency investment in the last couple of years which has not gone unnoticed by HMRC in particular. “Do you have to pay tax on Cryptocurrency in the UK?” is a question that unfortunately, many people still have. The simple answer is yes, but the environment and requirements can be more complex than that. Luckily as one of most experienced Crypto tax accountants in the UK, this isn’t a problem for MJ Kane.

How our Accountants can help you!

  • Tax Advice and Help For Crypto Companies

    Help for crypto businesses & blockchain technology businesses

    As a business you need to have confidence that your accountant understands the sector in which you operate and fully understands your needs and can help spot opportunities. That’s why companies come to us for tax advice and help when it comes to the crypto sector.

    We can help with the structuring of your business, issues around remuneration in crypto, tax credit opportunities alongside the usual accounts and tax compliance services you would expect. Understanding the tax environment in which your crypto business operates is essential to mitigate financial risk and to meet your obligations.

    Alongside the compliance services that you would expect from our accountants: accounts preparation and financial reporting, self-assessment and corporate tax returns, audit, VAT and company secretarial services.

  • Crypto Tax Planning For Companies

    Investors are becoming more active; trading tokens, being paid in tokens or even becoming full time crypto ‘investors’. These changes in activities has made tax planning for the future even more important.

    Our Crypto tax accountants can assist with the following:

    • Advising on the tax implications of holding and trading cryptocurrency
    • Advising on the tax reporting requirements for crypto activities
    • Advice regarding the viability of using a corporate structure, whether that be in the UK or overseas

    Alongside this we are experts in activities including:

  • Management reporting, forecasting & budgeting

    We work with our clients to translate the numbers into something tangible that can be understood to maximise the potential of any business.

  • Remuneration in cryptocurrencies

    Whether you have issued SAFTs, options over tokens, or are considering remunerating your employees, contractors, or anyone within your network with tokens, there are very specific employment rules that govern how these would be taxed. These rules are based on the timings of events that have implications for the employer and the recipients. Our team will make sure that you are able to navigate this.

  • HMRC enquiries

    Our team has experience in dealing with cryptoasset enquiries, and we certainly value our ability to speak to HMRC, not only about the crypto tax aspects of the investigation, but with a deep understanding of the underlying assets in question.

  • Other Services MJ Kane Accountants Can Support Your Business

    MJ Kane Accountants offer a complete and comprehensive accountancy service that can help support your business’ growth. Some other business accountancy service we offer include:

    Limited Company Accountants

    Our specialist team of expert and highly qualified limited company accountants are here to deliver everything you need to set up, operate and grow your business.

    Company Formation Accountants

    At MJ Kane we offer an A-Z Company Formation Service. Our dedicated in house team of company formation accountants are ready to assist you throughout the entire process.

    Bookkeeping Business Services

    Whether you’re a Limited Company, PLC or Sole-Trader, MJ Kane & Co Accountants are here to help manage your records and accounts with our bookkeeping business services.

    Business Tax Advice & Planning

    MJ Kane delivers Limited Companies, Sole Traders, and Individuals on business tax advice, tax planning & business growth & management. In order to offer an all-round service, we also work closely alongside key experts for financial advice and planning.

    Accountancy For Contractors

    Whether you are running a large contracting firm with multiple sub-contractors or are contracting by yourself, self-employed workers must prepare and submit accounts and financial assessments to HMRC.

  • What Should I Expect With MJ Kane’s Initial Crypto Tax Consultation

    At M J Kane, we can provide assistance with ensuring that crypto transactions are tax efficient and advising on the implications of crypto asset activities.

  • What is included in my 15-minute advisory phone call

    During your advisory phone call you will be in a position to ask one of our Crypto Tax Specialists any questions you may have regarding tax advice and crypto currency.
    You will be provided with bespoke advice unique to your circumstances.
    The call will include advice on tax planning and tax saving to ensure that you get the best savings out of your investment.
    You will be provided with a report based on the phone call detailing the advice our specialist recommends.
    This call will be more than a consultation and will provide you with bespoke, exact tax advice unique to your situation.
    You can book a 15-minute conversation with one of our Experts now!

  • Do I need to report my Cryptocurrency on my taxes

    Yes, your cryptocurrency is taxable. HMRC considers cryptocurrency holdings to be a taxable income. The rate your currency income is taxed on will vary depending on the way you receive the income.

  • Are paper gains taxable?

    Unrealized gains. Gains that are “on paper” only are called “unrealized gains.” For example, if you bought a virtual asset for £10 and it’s now worth £12, you have an unrealized gain of £2. You won’t pay any taxes until you sell the asset or transfer it.

  • Can HMRC track Crypto?

    HMRC may investigate your tax affairs if you have invested in cryptoassets, cryptocurrency, and virtual currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Zcash (ZEC) and Ripple (XRP).

  • Are There Crypto Tax Reporting Softwares and Tools in the UK

    There are numerous cryptocurrency tax softwares available in the UK and accurately consider UK tax consideration. Koinly Crypto Tax Software is strong consideration for being one of the most user friendly and easy to use crypto reporting tools.

  • Other Crypto Resources You Might Be Interested In

    At MJ Kane, we pride ourselves in the years of industrial expertise within the crypto sphere and UK tax. Delivering award winning services to thousands of businesses and individuals across the globe. Learn more about other crypto tax guides and services.

    UK Crypto Tax Calculator
    What Are Crypto Accountants in The UK?
    Crypto Bookkeeping Guide
    Crypto Tax Advice For Individuals
    Crypto Tax Advice For Companies
    How Is Crypto Taxed in the UK?
    Koinly – Crypto Tax Tool

Why MJ Kane As Your Crypto Accountants

Award winning services

8000 plus satisfied clients

100+ years combined industry experience

30+ Countries covered

Fixed Fee Service

Tax efficiency focused

Meet the Team

Meet the Senior Management Team

Michael Kane

Founder | Managing Partner

SME Tax Compliance | Tax Planning | Business Development

FCCA Qualified

MJ Kane

Director | Senior Accountant

SME Tax Compliance | Crypto Taxation Compliance | Business Structuring

ACCA Qualified | BSc Hons Accounting

Jonathon Greenaway

Director | Senior Accountant

SME Tax Compliance | Property Capital Gains | Inheritance Tax

ACCA Qualified | BSc Hons Business Studies

Need help with Accountancy? Call us today: 028 9335 0290

View our latest news & insights

21 March 2024
The Chancellor presented his final spring budget before the election, emphasizing reforms designed to streamline the tax...
The Chancellor presented his final spring budget before the election, emphasizing reforms designed to streamline the tax system, promote fairness, adapt to economic changes, and bolster public finances. As in past budgets, there a...
14 February 2024
Navigating the landscape of business taxes in the UK can seem daunting, especially given the range of taxes that might a...
Navigating the landscape of business taxes in the UK can seem daunting, especially given the range of taxes that might apply to your organization. However, understanding which taxes are relevant to your business is crucial for com...

Get in Touch

If you have an enquiry, please submit an online enquiry below or call us and our Client Services team will be happy to assist you.