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18 February 2023
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Made a killing on Bitcoin?
Has your latest NFT brought in a tidy sum?
You still, in most jurisdictions, will need to pay taxes on them!
Our Tax Natives experts can sort that out in no time so you can get back to trading.
Crypto and digital assets have really rocked the boat in the past decade. Do you have to pay tax on something that, technically, doesn’t exist? Well, yes, you do, but what and how much varies enormously. If it’s crypto tax advice you need then you‘ve come to the right place.
Let’s start by taking a look at the whole crypto tax subgenre of personal wealth and then gradually get into why you need to abide by crypto tax rules before touching on why you might need a crypto tax specialist sooner than you realise.
In layman’s terms, crypto and digital asset tax is the tax you pay on any profits you make from buying, selling, or trading cryptocurrencies or digital assets. Whether you’re an investor, trader or business, just like with traditional investments, any gains you make are subject to taxation.
The tax laws and regulations surrounding cryptocurrencies (such as Bitcoin, Ethereum and Tether) and digital assets vary from country to country – and even from state to state in some countries. Whether your crypto asset and cryptocurrency activities amount to an income that should be taxed or not depends upon several, often complex factors.
This is why it’s crucially important to consult with a tax professional who is knowledgeable in your territory. In addition to helping you keep detailed records of all your transactions – including the purchase and sale prices and any fees or commissions paid – they can use their intimate knowledge of the local crypto tax laws to ensure there aren’t any hiccups or irregularities.
In fact, let us prove it to you. If you think your crypto trading means that you might have to declare them in your tax returns then get in touch. We’ll put you in contact with a crypto tax whizz in your territory who just might be the difference between you paying over the odds or landing yourself in trouble with the authorities.
You’ll need to determine your taxable gain or loss, report it on your tax return, and pay any taxes owed. Keeping detailed records of all your transactions is essential to accurately calculate your gains and losses and avoid any potential legal issues.
This all depends on the country or jurisdiction those assets are held in. Tax laws and regulations surrounding cryptocurrencies and digital assets are complex and vary from country to country. Some countries may have different tax rates or treat these assets differently for tax purposes.
If you earn income through cryptocurrency mining, you’ll need to report that income on your tax return. If you’re mining cryptocurrencies as a business, you may also be subject to an additional self-employment tax. Again, however, the exact tax treatment of mining income depends on the tax laws and regulations in your country or jurisdiction.
In most countries, Bitcoin and other cryptocurrencies are treated as property for tax purposes. This means that any gains you make from buying, selling, or trading Bitcoin are subject to short or long-term capital gains tax.
Think of us as a tax dating service (stay with us on this). We swipe through our network of international tax consultants and find one that’s a perfect match for your unique tax situation.
Whether you’re of retirement age and are looking to invest your pension, a property magnate expanding your portfolio into new countries, or a stakeholder in a business that is opening up a satellite in a new location, our international tax advisors can help you with the tricky business of abiding by local tax laws.
We’ll strip away all the jargon and make the world of international tax feel much more intimate. A match made in international tax heaven, if you will. Find out more about your tax destinations and jurisdictions using the map below.
View global adviser mapMEMBERSHIP LEVELS —
The Curator is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives.
The Creator is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives.
The Adviser is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives.
Become a curator
TAX NATIVES: CURATOR — CuratorThe Curator is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives. |
Become a creator
TAX NATIVES: CREATOR — CreatorThe Creator is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives. However, the Creator has additional responsibilities. They commit to their other Natives that they will produce at least one piece of quality content each quarter – whether an article, video or other valuable content. There are multiple Creator memberships available for each jurisdiction. Where a Curator fulfils their commitments then they receive a 100% discount against their monthly membership fee. |
Become an adviser
TAX NATIVES: ADVISOR — AdviserThe Adviser is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives. The Adviser Native is a care-free soul and has made no other commitments to his fellow Tax Natives to generate content or curate a jurisdictional page. That's cool. However, the Adviser will be eligible to pay the full monthly membership fee. |
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Initial admin fee | £250 Free | £250 Free | £250 Free |
Minimum membership term | 12 months | 12 months | 12 months |
Article contentCreator and Curators must create at least one piece of original, quality-approved content each quarter. |
No | YesCreator and Curators must create at least one piece of original, quality-approved content each quarter. |
No |
Managing and updating your jurisdiction page |
Yes |
No |
No |
NATIVE
TAX NATIVES: CURATOR —
The Curator is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives.
However, the Curator has additional responsibilities. They are tasked with the responsibility of managing and updating one of the jurisdiction pages.
There is only one Curator membership available for each jurisdiction.
Where a Curator fulfils their commitments then they receive a 100% discount against their monthly membership fee.
Initial admin fee | £250 Free |
Minimum membership term | 12 months |
Article contentCreator and Curators must create at least one piece of original, quality-approved content each quarter. |
No |
Managing and updating your jurisdiction page | Yes |
TAX NATIVES: CREATOR —
The Creator is a fully-fledged member of the Tax Natives team. As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives.
However, the Creator has additional responsibilities. They commit to their other Natives that they will produce at least one piece of quality content each quarter – whether an article, video or other valuable content.
There are multiple Creator memberships available for each jurisdiction. Where a Curator fulfils their commitments then they receive a 100% discount against their monthly membership fee.
Initial admin fee | £250 Free |
Minimum membership term | 12 months |
Content creationCreator and Curators must create at least one piece of original, quality-approved content each quarter. |
YesCreator and Curators must create at least one piece of original, quality-approved content each quarter. |
Managing and updating your jurisdiction page | No |
TAX NATIVES: ADVISOR —
The Adviser is a fully-fledged member of the Tax Natives team.
As such, they are capable of making introductions to other Tax Natives and are also able to take leads from their fellow Natives.
The Adviser Native is a care-free soul and has made no other commitments to his fellow Tax Natives to generate content or curate a jurisdictional page.
That's cool.
However, the Adviser will be eligible to pay the full monthly membership fee.
Initial admin fee | £250 Free |
Minimum membership term | 12 months |
Content creationCreator and Curators must create at least one piece of original, quality-approved content each quarter. |
No |
Managing and updating your jurisdiction page | No |
If you want to know more about Tax Natives membership, crypto tax advice, or if you’d like to give a virtual high-five to a Tax Native, drop us a line and we’ll get back to you.
OUR MISSION —
Tax Natives is an international tax network that connects taxpayer clients with qualified and regulated tax advisers, from one jurisdiction to another. But we’ll let Andy explain – he’s good at this stuff.
Tax Natives is an international tax network that connects Explorers (taxpayer clients) with Natives (qualified and regulated tax advisers) from one jurisdiction to another.
Select the ‘Ask a question button located on the top of each page and follow through the process to compose your question
Once your question is confirmed and your account is set up, navigate to your user dashboard to view the message exchange between you and your Tax Native.
Each Tax Native has to accept a question from an Explorer before a conversation can begin. Once the Tax Native has accepted your question, a quote will be submitted for approval through the messaging portal.