, published by the Treasury, discusses the decisions the U.K. government has made to “restore economic stability, support public services, and lay the foundation for long-term growth.”
The budget also discusses tax and spending and specifically addresses “tackling promoters of tax avoidance.” The U.K. government is planning to introduce new criminal offenses for those who evade taxes and will consult on the issue soon. “The government will also consult on expediting the disqualification of directors of companies involved in promoting tax avoidance, including those who exercise control or influence over a company,” according to the Treasury budget.
Additionally, the Treasury’s document mentions amending the U.K.’s self-assessment tax forms to account for cryptocurrency assets. “The government is introducing changes to the self-assessment tax return forms that require amounts related to cryptocurrency assets to be identified separately,” explains the Treasury notice. “The changes will be implemented on the tax forms for the 2024-25 tax year.” In the U.K., self-assessment tax returns are due on Jan. 31 each year. U.K.
The budget from the U.K. finance minister and Treasury follows U.S. president Joe Biden’s recently submittedfor 2024, which also includes proposed tax policies targeting cryptocurrency investors. Biden’s budget aims to eliminate the like-kind exchange provision, also known as Section 1031, from the Internal Revenue Code. The president’s administration believes that closing the so-called loophole will prevent the “ultra-wealthy” from exploiting the like-kind exchange provision.
'It is encouraging to see the U.K. taking a stand against promoters of tax avoidance and attempting to ensure that everyone pays their fair share.'
Glad to see the U.K. taking a stand against imaginary money-stealing dragons. tax
Those who understand Bitcoin, know the biggest opportunity for accumulation exists during bear markets. Buy Remember the bull run is inevitable. However everyone should follow Cormick0Dave He's a super underrated bitcoiner. Superb Tips, I’ve been doing great on my trading.
Totally agree, but I only use ChiefraFba for signals and analysis
Amazing stuff, I only use ChiefraFba for signals and analysis.. 92% win rate in 2 months of copying his signals!