|
Title: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: IsaacGoldbourne on December 06, 2013, 04:22:10 PM Quote is from http://www.reddit.com/r/Bitcoin/comments/1s8zak/vat_on_bitcoin_uk_tax_authorities_change_their/
BitPrice just had a very positive meeting with HMRC regarding VAT and Bitcoin. We attended with Marc Warne of Bittylicious, Eitan Jankelewitz of Sheridans solicitors and Michael Parsons. We explained in detail what Bitcoin is and how it is used, following which they agreed that their categorisation of Bitcoin as: "a face-value voucher... likely 'face value vouchers'" is inaccurate. They will be rescinding this advice. This is significant because under that definition, VAT would be due on the sale of Bitcoin, making the use of Bitcoin largely unviable in the UK. HMRC are to take legal advice on exactly how Bitcoin should be treated with regards to VAT, but the meeting was very positive and I would expect further good news in the new year. Tom Robinson, BitPrice www.bitprice.com[1] Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: Rotex on December 06, 2013, 04:39:29 PM That is indeed positive news. Thanks for the update.
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: IsaacGoldbourne on December 06, 2013, 04:42:04 PM That is indeed positive news. Thanks for the update. Yeah, it'll be nice to have a UK exchange!Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: Rotex on December 06, 2013, 04:44:43 PM It also makes this much more appealing:
http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/ (http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/) Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: IsaacGoldbourne on December 06, 2013, 04:45:06 PM It also makes this much more appealing: Itd be good if we could all panic buyhttp://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/ (http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/) Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: niothor on December 06, 2013, 04:49:54 PM Can we have an official statement here?
Not another unconfirmed rumor? Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: runam0k on December 06, 2013, 07:20:24 PM Looks good!
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: FlappySocks on December 06, 2013, 08:05:45 PM Not so fast folks. No UK bank will allow a business to trade bitcoins.
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: jubalix on December 06, 2013, 08:13:38 PM if the city is good at one thing its Laissez-faire tradeing when theres a percentage to be made
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: LiteCoinGuy on December 06, 2013, 08:38:37 PM what UK can best is trade with money so they should take a leading position in BTC.
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: Lethn on December 06, 2013, 08:41:20 PM Can we have an official statement here? Not another unconfirmed rumor? Yeah, I'm getting tired of people posting up bullshit to get our hopes up. Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: Mjbmonetarymetals on December 06, 2013, 08:41:29 PM This is BIG
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: Lethn on December 06, 2013, 08:45:27 PM Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: Mjbmonetarymetals on December 06, 2013, 08:50:19 PM HOPEFULLY Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: rayfloyd on December 06, 2013, 08:51:15 PM HOPEFULLY I like big WORDS and I cannot lie... Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: RapidCoinz on December 06, 2013, 09:56:30 PM We still have a long way to go in the UK but closing the book on this prior classification by the HMRC on bit coins being a single purpose voucher is undoubtably a good thing for bit coin businesses in the UK.
Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: BelieveTheHype on December 06, 2013, 09:57:04 PM Quote is from http://www.reddit.com/r/Bitcoin/comments/1s8zak/vat_on_bitcoin_uk_tax_authorities_change_their/ BitPrice just had a very positive meeting with HMRC regarding VAT and Bitcoin. We attended with Marc Warne of Bittylicious, Eitan Jankelewitz of Sheridans solicitors and Michael Parsons. We explained in detail what Bitcoin is and how it is used, following which they agreed that their categorisation of Bitcoin as: "a face-value voucher... likely 'face value vouchers'" is inaccurate. They will be rescinding this advice. This is significant because under that definition, VAT would be due on the sale of Bitcoin, making the use of Bitcoin largely unviable in the UK. HMRC are to take legal advice on exactly how Bitcoin should be treated with regards to VAT, but the meeting was very positive and I would expect further good news in the new year. Tom Robinson, BitPrice www.bitprice.com[1] i guess that explains my results from this post https://bitcointalk.org/index.php?topic=360300.0 Thanks for the info dude.. Title: Re: UK no longer requires VAT to be paid on BTC. Now we can have a real exchange! Post by: gsingh on December 06, 2013, 10:04:48 PM Thanks for sharing this screenshot. Very positive sign for Bitcoin indeed.
|