British Tax Authority Updates Cryptocurrency Guidelines, says it is not money.

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The United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs (HMRC), has updated its cryptocurrency taxation guidelines for businesses and individuals.On Nov. 1, the U.K. government tax agency, which manages taxes alongside other financial policies, released tax guidance updates that further clarify its stance on how to buy bitcoin online and buy erc20 tokens involved with cryptocurrency will be taxed.  The guidelines set out HMRC’s view on cryptocurrency transactions, which taxes apply, how to file tax returns and accounting practices, among others. It also considers the taxation of exchange tokens, while stating that rules for utility or security tokens will be added in the future.Companies that buy or sell best erc20tokens online, mine, exchange tokens for other assets or provide goods or services in return for tokens are liable to pay for one or more different types of tax. Read more 
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