Cryptax

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Cryptax Chartered Tax Advisors specialising in all aspects of Crypto. Based in North West England but with clients nationwide.

We can assist with Mining, Staking, Trading, Airdrops, NFTs, DeFi and all other crypto transactions

30/10/2024

Update - changes in CGT basic and higher rates take effect from today

30/10/2024

An update from the budget:-

⬆️ Income tax and employee national insurance thresholds to increase in line with inflation from 2028.

📈Employers National Insurance to increase by 1.2% and threshold at which employers start to pay NI to reduce from £9,100 to £5,000 both from April 2025. Employers allowance increasing from £5,000 to £10,500.

🪙 Basic rate CGT increasing from 10% to 18%. Higher rate CGT increasing from 18% to 24%. The chancellor did not say when these changes would take effect. Lifetime limit for BADR remaining at £1,000,000 and BADR increases to be phased in to a maximum of 18% over the next 3 years.

🚜 Inheritance tax thresholds frozen until 2030. Inherited pensions to come into IHT from 2027. The first £1 million of combined agricultural assets and trading businesses will attract no IHT but any amounts above this will fall into IHT with 50% relief.

🌍 Non-dom tax regime being abolished and a residence based scheme to be introduced.

🏠 SDLT surcharge on second homes to increase by 2% to 5% taking effect from tomorrow.

📚VAT on private schools being introduced from January 2025 with their business rates relief being removed from April 2025.

🏦 Interest on unpaid tax to increase.

🚙Incentives for businesses to buy electric vehicles to continue but hybrids to be taxed.

💷National Minimum Wage to rise by 6.7%.

⛽ Fuel duty frozen for another year.

Happy Bitcoin Pizza Day! 🍕It seemed a good excuse to head out for some pizza! On 22 May, 14 years ago Laszlo Hanyecz in ...
22/05/2024

Happy Bitcoin Pizza Day! 🍕It seemed a good excuse to head out for some pizza! On 22 May, 14 years ago Laszlo Hanyecz in Florida spent 10,000 BTC buying two Papa John's pizzas - proving that digital currency could be used to purchase goods. Ours weren't quite as costly - that Bitcoin would be worth over £545 million today!

05/04/2024

Trading memecoins?🐸Big wins🚀? Rugged💩? Bought $AERO before it took off🛫?

Don’t forget - today is the last day of the 23/24 tax year in the UK 📆

Make sure you make full use of your £6,000 CGT allowance and consider whether to harvest any losses before midnight tonight!⌛🕛

06/03/2024

Here's some of the key points from the Spring budget!

⬇️ Basic rate employee national insurance to be cut from 10% to 8%, self employed national insurance to be cut from 8% to 6%.
🏡 Property taxes - abolishment of furnished holiday lets regime
🌍 Non-doms tax regime changed, relief only available for first 4 years of UK residency
🛢️Windfall tax on oil and gas companies extended
🍼 From this April the threshold for child benefit will be increased to £60,000 with the higher end of the taper being £80,000. Child benefit will be moved to being based on household income rather than the highest earner by April 2026.
🏘️ Higher rate CGT on residential property reduced from 28% to 24%
💰Full expensing to be applied to leased assets (as soon as they can afford it)
⬆️ VAT registration threshold to be increased from £85,000 to £90,000 from 1 April
🇬🇧 New "British ISA" providing an additional allowance of £5,000 if it's invested in the UK (this is subject to a consultation period)
⛽️🍷 Alcohol and fuel duty freezes extended

31/01/2024

Well that's another very busy January done for us and we finished 5 hours earlier than last year! Looking forward to speaking to some potential new clients and catching up on admin over the new few days and then taking a well earned break ☀️🏝

22/11/2023

Autumn Statement Summary

State pensions will rise by 8.5% In April
Benefits and universal credit to rise by 6.7%
Living wage increasing to £11.44 per hour
Class 2 NICs being abolished
Class 4 NICs being reduced to 8% (between £12,570 and £50,270)
Employee national insurance being reduced by 2% to 10% (between £12,570 and £50,270). This is proposed to begin on January 6th.
Full expensing for businesses has been extended to be permanent
New investment zone in Wrexham and Flintshire

And there's always an announcement on alcohol taxation, good news is that there will be a freeze on alcohol duty until at least next year 🍷🍺🥂

22/11/2023

As ever we'll be watching the Autumn Statement closely at 12:30, we'll keep you up to date on the changes 👀

30/10/2023

🚨https://snowtrace.io/ is discontinuing on 30th November🚨
Make sure you download all relevant data by then - your accountant will thank you later! We have found snowtrace to be the best avalanche block explorer so will be sad to see it go.

Address

Liverpool

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 9am - 6pm
Sunday 9am - 6pm

Telephone

+441513140250

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