HMRC - Her Majesty's Revenue and Customs

HMRC is the UK's tax authority responsible for the collection and management of taxes, including income tax, corporation tax, VAT, and other duties.

About HMRC

HMRC was formed in 2005 by merging the Inland Revenue and HM Customs and Excise. We collect taxes and duties, pay benefits and credits, and help businesses and individuals understand their tax obligations.

Tax Services

HMRC provides a range of services to help taxpayers:

• Online tax returns and payments
• Tax advice and guidance
• Benefit claims and payments
• Customs and excise services
• Employer services

Cryptocurrency and Digital Assets

HMRC treats cryptocurrency as property for tax purposes. This means:

• Capital Gains Tax applies when you dispose of crypto for more than you paid
• Income Tax may apply to crypto earned through mining, staking, or airdrops
• Businesses may need to register for VAT if trading crypto

Self Assessment

If you have crypto transactions, you may need to complete a Self Assessment tax return. The deadline is usually 31 January following the end of the tax year.

Contact HMRC

For tax advice, visit the official HMRC website at gov.uk/hmrc or call their helpline.

Reporting Crypto Transactions

You must report all taxable crypto activities in your tax return. Keep detailed records of all transactions, including dates, amounts, and exchange rates.

For more information about HMRC and tax obligations, visit their official website.