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Author: Admin | 2025-04-28
And the chargeable gain in disposal (selling) of assets.Crypto is not considered a currency for tax purposes, but it is described as an intangible asset that can be owned and has a value that is capable of being realized.Instead of capital gains tax, however, in the UK businesses will be charged corporation tax on disposal regardless of the method, whether exchanging bitcoin for fiat currency, a different cryptocurrency, using it for payment of goods or services, and even donating or gifting.Reporting of cryptocurrency corporation tax should be done in Sterling and reflected in the current financial statement.How to Buy Bitcoin as a CompanyHow to Buy Bitcoin as a Company in 2025Step 1. Sign up to a Crypto Exchange That Offers a Corporate Account The first step to investing as a business is to open a corporate account at a cryptocurrency exchange.It is important to note that you will need a business account to buy bitcoin or any other cryptocurrency as using a personal account will have ramifications in terms of tax.In some cases, you might need to initially open a personal account and then upgrade to a business account.There are usually other benefits to having a business or Enterprise account, including higher purchasing limits and better access to customer service and VIP functions.Step 2. Verify Your AccountIf you are using a regulated or centralized exchange (which are usually considered more secure) then users need to verify identity before they can trade.This is usually the most time-consuming part of the process, but it is essential to make sure that you can buy crypto simply and withdraw funds when needed.Verification at most cryptocurrency exchanges includes personal details (of the company director) and business incorporation proof.This might be registration documents with the state in the US or the business registration documents held by Companies House in the UK.The exchange you are using will list the verification documents needed, with alternatives where necessary.In most cases, opening an account is completely digital, with scanned copies of essential documentation usually accepted as proof of identity.Step 3. Transfer Funds to Your Trading AccountThere are two main ways that you can get fiat currency into a trading account.Most exchanges accept deposits made by credit or debit card, so a business card might be a good option.Almost all exchanges accept deposits via bank transfer, but some more traditional financial institutions block transactions with cryptocurrency exchanges, so it is always
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