British taxman seizes 3 NFTs for the first time in tax fraud probe
Her Majesty’s Revenue and Customs (HRMC) also seized $6,700 worth of digital assets and arrested three people alleged to have defrauded the gov’t of $1.9 million in taxes.
Latest Her Majesty’s Revenue and Customs News
Digital currency exchanges in UK face ‘unfair’ 2% digital service tax
The U.K. tax agency will impose a 2% digital service tax, which is reserved for tech outfits like Google and Facebook, on digital currency exchange, which, in turn, will be passed on to users.
UK updates digital currency tax treatment to account for staking
Her Majesty’s Revenue and Customs published the updated guidance to address the issue of proof-of-stake rewards, which had previously been treated informally in the same way as mining rewards.