Cryptoasset Taxation - by Ben Lee & Dion Seymour & Zoe Wyatt (Paperback)

About the Book

Book Synopsis

This publication provides clear and authoritative guidance on the tax issues surrounding cryptoassets in the United Kingdom. Cryptoassets are a type of digital asset. The most common examples are Bitcoin and Ethereum. HMRC do not consider cryptoassets to be money or that buying or selling them is gambling. This means that, in HMRC's view, profits or gains from buying and selling cryptoassets are taxable.

The authors are Ben Lee, Dion Seymour and Zoe Wyatt. Dion is the Crypto and Digital Assets Technical Director at Andersen. He was formerly the crypto-asset policy and product owner at HMRC. As well as advisory work in this area, he also speaks regularly on this subject. His co-author is Zoe Wyatt, Partner and Head of Crypto and Digital Assets, also at Andersen.

This is an evolving area in the UK and globally. It can be challenging for advisors dealing with business and individual clients to keep up with the pace of technical developments and the tax implications. The book helps readers understand HMRC's view by providing clear and practical guidance on the technology (including clear definitions of the technical terms), and the tax impact, including relevant case law. The commentary is enhanced by the inclusion of numerous examples as well as illustrative flowcharts and diagrams.

The book also outlines the compliance requirements including self assessment returns and penalties. The OECD regime will also be covered.

This book is be an authoritative and valuable tool for any advisors looking into this area for the first time.

Review Quotes

"One of the things I admire most about this book is its accessibility. Whether you're a tax specialist trying to keep pace with developments or someone working in Web3 with little experience of the tax system, there's something here for you. That's no small achievement, and it reflects the care, precision and empathy the authors bring to their work." --Professor Sarah Green, D2LT, formerly Law Commission of England and Wales

"This book is the product of years of careful research and hands-on experience by three of the most respected practitioners in the industry. Ben Lee, Dion Seymour, and Zoe Wyatt bring not only technical mastery, but also the rare ability to make complex ideas accessible. Their contribution to the academic and professional discourse on cryptoassets cannot be overstated." --Sara Hall, Walkers

"The authors are the leaders in this field, and they tackle one of the most difficult, but important, topics in crypto with clarity and practicality. This is a must have for crypto professionals." --Charles, Kerrigan, CMS

"This book is an invaluable resource for anyone seeking to understand the tax, legal, and accounting complexities of cryptoassets. The authors succeed in distilling highly technical subject matter into practical guidance. I would not hesitate to recommend it to both seasoned practitioners and those newly entering the sector." --Matthew Kimber, In-house Counsel (previously Law Commission)

"In a sector often characterised by jargon and uncertainty, this book stands out as a clear, authoritative guide. Whether you are an investor, an entrepreneur, or a professional adviser, you will find the content both insightful and actionable. It is destined to become a reference point in the field." --Cessiah Lopez, Solana Superteam UK

About the Author

Ben Lee is a Partner within Andersen's crypto team and is a highly experienced and accomplished Chartered Accountant and Chartered Tax Advisor.

Dion Seymour is Crypto and Digital Assets Technical Director at Andersen UK. He was formerly the crypto-asset policy and product owner at HMRC. As well as advisory work in this area, he also speaks regularly on this subject.

Zoe Wyatt is a Partner and Head of Web3 & Disruptive Technology at Andersen UK.