Stablecoins are currently taxed in the same way as other cryptoassets. However, this is set to change from April 2027, when eligible stablecoins are expected to be treated similarly to money for tax purposes. Why stablecoins? Stablecoins are currently dominated by US dollar-based products, with stablecoins worth over $300 billion in circulation. They are extremely […]
The law in England and Wales is moving a step closer to treating married and unmarried couples in a similar way. “Over 3.5 million couples live together without getting married or entering a civil partnership, a number that has more than doubled over the past three decades. Despite this, cohabiting couples and their children have […]
Although no date for its introduction has yet been announced, the government has recently provided some details for the new first time buyer individual savings account (FTB ISA), which is set to replace the lifetime ISA (LISA). Essential differences The LISA never garnered a large take-up, so its replacement has some fundamental changes: Target: The […]
The tax gap for 2024/25 sets another record at £59.2 billion, with small businesses accounting for some 62% of the taxes not collected. The tax gap is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. Upward trend The tax gap for 2024/25 represents […]