“Last month, it was revealed that HMRC had decided to classify bitcoins as vouchers, which meant that VAT would be due on sales involving the digital currency. Today, members of the UK bitcoin scene visited HMRC today to speak with the government department about cryptocurrency. Robinson said: ‘We started off by explaining bitcoin to them – a lot of the meeting involved educating them about bitcoin and what it’s actually used for.’ He went on to say that the department, after hearing this, said it would withdraw its previous guidance about bitcoin being a type of voucher.”
http://www.coindesk.com/hrmc-decides-rethink-tax-stance-bitcoin/
Related posts:
Private Probation Firm Illegally Extended Sentences, Judge Finds
Lindsey Graham: Boycott the Soviets Again!
Storing and Sending Bitcoins Directly from Your Brain
Head of Dutch Libertarian Party Arrested Just Weeks Before Election
Bitcoin ATM Company Refused Account by Bank of Ireland
Virginia Gov. did not disclose $120,000 in donations from company he promoted
Imprisoned CIA Torture Whistleblower John Kiriakou Pens “Letter from Loretto”
California’s Humboldt State University launches marijuana institute
Newly leaked NSA program sees 'nearly everything' you do
Sauerkraut Freedom
Americans Can Still Benefit from Tax Havens
Security audit finds developer outsourced his 9-5 job to China to goof off at work
Scranton Residents Plead for Bankruptcy vs. Higher Taxes
Swiss Bank Refuses Request for Cash Withdrawal, Backed By Central Bank
DOJ wants your tips for Trayvon federal civil rights case