What about if I have a business that is VAT registered then maybe order for that business some new high end computer hardware, would it be acceptable to start mining Bitcoin on the equipment I got without paying VAT on it and then sell on the Bitcoin. Suddenly my mining hardware would cost 20% less. Then rather than pay myself a wage from the business it's activities just fund the power bill for mining and keep afloat, I meanwhile sit and work drawing in Autocad having a merry old time and sell off the Bitcoin as they are mined.
*Since some friendly HMRC staff are probably keeping an eye on this now, I don't plan to do this myself, just asking the question of "Why not?"