“HM Revenue & Customs said in a meeting with UK traders that it would no longer levy 20 percent value-added tax (VAT) on bitcoin transactions and also said it would not tax margins either, according to the paper.  The British support for the currency comes days after Mt. Gox, once the world’s largest bitcoin exchange, was sued by a customer in the United States seeking to recover money lost in the hacking attack.  Corporation tax and other taxes would still apply, according to the FT.”

http://www.reuters.com/article/2014/03/02/us-bitcoin-britain-idUSBREA210UV20140302

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