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Topic: UK legislation bitcoin (Read 873 times)
murdof
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UK legislation bitcoin
June 04, 2014, 09:08:16 AM
#1
Hi guys,
Need help with the following scenario:
I have two miners hosted that I have bought personally with my money.
I have paid for the miners and the hosting in bitcoins.
I have an account with bitstamp so I can transfer the money to any SEPA account.
I have a UK startup company.
My question is the following:
Can I transfer the bitcoins using bitstamp to the UK company?
How would I declare this income for the company in order for it to be legit?
Do I have to show some proof I own the miners or that I have paid for the hosting?
Buy me a beer: 1mrdfyA1GhKmTPhaSkvyq5DBterQ5m7ZK
Run your own P2Pool with Ubuntu 16.04 LTS and merge mining
ENEWIT
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Re: UK legislation bitcoin
June 04, 2014, 07:18:53 PM
#2
I would advise to find a qualified lawyer in the field of information technology, rather than seek an answer on the forum
bitcoinsolicitor
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Bitcoin Lawyer in Kensington, London
Re: UK legislation bitcoin
June 04, 2014, 10:58:43 PM
#3
Quote from: ENEWIT on June 04, 2014, 07:18:53 PM
I would advise to find a qualified lawyer in the field of information technology, rather than seek an answer on the forum
I am a lawyer in London.
If you require any legal advice please email info(at)selachii.co.uk or call +44 (0) 20 7792 5649.
www.bitcoinsolicitor.com
ganabb
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Re: UK legislation bitcoin
June 06, 2014, 09:00:06 AM
#4
That is money's worth includes vouchers, goods, etc. - effectively anything that has value - and so Bitcoins seem to quite easily fall in that category.
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runam0k
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Touchdown
Re: UK legislation bitcoin
June 06, 2014, 09:51:34 AM
#5
If the purpose is simply to give the company bitcoins, I would think it could be recorded as a gift.
If you are talking about transferring the mining operation to the company, then some sort of start-up loan seems more appropriate (enabling the company to buy the assets).
blatchcorn
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Re: UK legislation bitcoin
June 06, 2014, 11:03:30 AM
#6
Quote from: runam0k on June 06, 2014, 09:51:34 AM
If the purpose is simply to give the company bitcoins, I would think it could be recorded as a gift.
If you are talking about transferring the mining operation to the company, then some sort of start-up loan seems more appropriate (enabling the company to buy the assets).
This seems very logical.
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