Post
Topic
Board Legal
Re: If you get paid in Bitcoin do you have to pay taxes?
by
charliemaggot
on 14/10/2014, 03:13:53 UTC
How about the UK? I think there are no BTC taxes.

Yes, the UK, like every other country I can think of, requires you to pay income tax on items of value you received to the value of your own currency. Whilst this may considered a barter, it is still taxed as income.

Quote
As with any other activity, whether the treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies will be subject to CT, IT or CGT depends on the activities and the parties involved.
https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies