The Knowledge Centre

HMRC have now provided long-awaited rulings on the UK VAT treatment of NFTs” Tax authorities are often slow to catch up with new or quickly moving technologies, which creates uncertainty, particularly for embryonic or developing businesses. One area that fits this description is crypto. Most major tax authorities, including HMRC, have focused on the general […]

‘NFT’ stands for ‘non-fungible token’. The original assets (or tokens) on blockchains (like Bitcoin) were ‘fungible’. That means that one is interchangeable with another. To help understand this we can give you an example; if you lend a tenner to a friend, you would not care whether that friend handed back to you the exact […]