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How Does VAT Apply to Bitcoin and Cryptocurrencies?

Bitcoin and similar cryptocurrencies have become an increasingly prominent and popular form of digital asset for businesses over the last few years, but inevitably, the emergence of this new model of finance has created ambiguity about how trade involving these assets will be regulated.

Commission relating to insurance is not always exempt

We often deal with businesses that have assumed that commission income they receive in relation to insurance services and financial services is VAT exempt. Unfortunately this is not always the case as in order to be VAT exempt the commission has to be generated from activities that meet a number of specific criteria.

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News

How Does VAT Apply to Bitcoin and Cryptocurrencies?

Commission relating to insurance is not always exempt

Rob McCann

Steve Howard

Tamara Habberley

Jack Ray-Atkins

David Miller