Post
Topic
Board Beginners & Help
Re: Tax legal question UK , VAT
by
altruista
on 26/02/2013, 21:47:48 UTC
> Wouldn't it work the same as any other non local currency?  Add the VAT % to the purchase.  Pay the tax in your local currency.

I do same thing with international payments, for example I can just create invoice in Euros or Dollars, is all legal, then I put exchange rate and pounds in my accounting (from date of purchase*), but the thing is BTC is NOT LEGAL CURRENCY :/ This is why I asked for sample invoice/company in UK who is dealing with BTC.

* please notice if I have bank in Germany and I received EUR I don't need to convert EUR>GBP in the same day which makes this case more complicated! (sales book vs cash book)

another thing is VAT which makes me headache when I think how to deal with it.

> I'm considering writing an email to Customs and Revenue about this and I'll see what they have to say about it but I'm not really expecting much.
Same as me, but Bitcoins are really new thing in law and taxation world so I wish you good luck