Crypto Currency Reporting and Taxation

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s a member of industry trade body CryptoUK and an early adopter of crypto-asset financial reporting and tax compliance, we have developed a range of expertise and services available to help individuals and organisations meet their reporting requirements and compliance responsibilities.

Our specialist crypto accounting and consulting service can help you organise your transactions, apps, wallets, exchange accounts and blockchain accounts into manageable connected systems and processes, and to understand tax implications of historic and future activity. We also advise on tokenised employee remuneration and crypto-remunerated contractor Ltd companies.

Buying, selling, receiving and mining any type of crypto-asset – fiat-crypto, crypto-crypto and crypto-fiat – will incur a taxable event on any disposal. Quantifying the tax liabilities in your local currency can be a very complex task, particularly with high volume inter-token trading, and it is essential that the right tools are in place to perform accurate calculations and ensure the correct data is sourced, verified and processed from what can be a highly complex range of platforms and data sources.

We work with day traders, SMEs, trading and consulting companies, private equity funds and individual investors, as well as collaborating on various software projects; setting up systems, connecting wallets and exchanges to reporting tools, building bespoke data capture systems and configuring the end-to-end data flow processes through to accounting software such as Xero.

I switched to Steedman & Company two years into running my own business as I was suffering from some common new business issues, e.g. credit control. They’ve been vital in turning my business into a success and are always one step ahead of me.

Stephen Mathieson Edinburgh