In the news: Bitcoin – a contractor’s guide for tax purposes

cuk_logoInterest in Bitcoin has shot up since the virtual currency’s inception in 2009, and many a contractor is considering how it could play a part in their business.

While Bitcoin only exists in a virtual electronic form, this does not mean your Bitcoin transactions are immune to business taxes.

James Poyser, co-founder of online contractor accountancy firm inniAccounts, explores how you must treat Bitcoin transactions for tax purposes.

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