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Looking further into it, it seems pretty much any forex in the UK is subject to VAT[1]. Even though Bitcoin is classified as a single-purpose voucher, I suspect

Looking further into it, it seems pretty much any forex in the UK is subject to VAT[1]. Even though Bitcoin is classified as a single-purpose voucher, I suspect it comes out to being the same amount of taxes (from the perspective of running an exchange). (EDIT: completely wrong, heh) -- [1] http://www.hmrc.gov.uk/manuals/vatfinmanual/vatfin2740.htm http://www.hmrc.gov.uk/manuals/vatfinmanual/vatfin2740.htm

robinhouston 13y ago
“Foreign exchange transactions are normally exempt supplies.” [1] [1] http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_PublicNoticesAndInfoSheets&propertyType=document&columns=1&id=HMCE_CL_000111#P84_9183 http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPort...
- deleted 13y ago
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