Highlights from the broader tax news week ending 31 March, which includes: HMRC repackaging its guidance on tax implications of cryptocurrencies and rate change for COVID statutory sick pay rebate scheme.
Features and articles
By passing the 10-year mark, Bitcoin has gained some acceptability by major institutions.
Writing for the Financial Services Faculty, journalist Billy Bambrough examines the case for bitcoin as a major payment provider.
14 January 2021: Writing for the Technology and Financial Services Faculties, journalist Billy Bambrough examines the case for bitcoin as a major payment provider.
Helpsheets and guidance
This guidance gives an introduction to crypto-assets for accountants, and how members may encounter clients with these assets. The guidance then outlines the Money Laundering risks that could be associated with clients who hold crypto-assets, and the issues that members will need to consider in their risk assessments.
How do you account for cryptocurrencies? What tax is payable on crypto-transactions? What is the difference between a cryptoasset and a cryptocurrency? What is an ICO? This tech essentials publication provides guidance to help answer some of those questions.
This international research report, in partnership with the Institute of Singapore Chartered Accountants (ISCA), explores the strengths and challenges for Singapore and London as fintech hubs, and identifies the key elements that underpin successful fintech innovation.
The purpose of this technical helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.
Finance in a Digital World
ICAEW is collaborating with Deloitte to ensure its members and students have the knowledge and skills to take advantage of the opportunities offered by the fourth industrial revolution and to meet its challenges head on. Log-in to access exclusive content, including: eLearning, webinars and bite-sized summaries on individual technologies and the broader impact of digital technologies on finance.
The Bitcoin era has provided both confusion and excitement amongst accountants. As the original cryptocurrency, the value has skyrocketed since its arrival and by its very nature is presenting challenges for accountants, lawyers, tax experts and investors, says CASSL co-chair April Warrier.
This blog was first posted by Eddy James in January 2017 on the Financial Reporting Faculty’s blog. A few years ago there was a lot of talk about Bitcoin, the fledging cryptocurrency that was threatening to take the world by storm. So much so that we included a bluffer’s guide to it in the Financial Reporting Faculty’s journal, By All Accounts, back in July 2014.
Webinars and recordings
Brought to you by the ICAEW Financial Services Faculty, this webinar provides a conversation with Professor Peter Piot of the London School of Hygiene & Tropical Medicine, Special Advisor on COVID-19 Research & Innovation
Following on from the Tech Faculty’s Tech Essentials guide to cryptocurrency, David Lyford-Smith will cover how to handle cryptocurrencies.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
The Library & Information Service provides a hand-picked collection of eBooks as a benefit of membership. If you are unable to access an eBook, please see our Help and support or contact firstname.lastname@example.org
Chapter 9 of the Fintech book looks at digital currencies and the various applications of the blockchain including what comes next and alternative applications of the blockchain technology to financial services.
BoE KnowledgeBank article giving background information on cyrptocurreny.
FCA information about the regulation of crypto assets (including cryptocurrencies) and the risks of investing and making payments using cryptoassets.
This report reviews the impact of significant changes in the industry since the publication of the 2nd Global Cryptoasset Benchmarking Study in 2018. It provides novel insights into the state of the cryptoasset industry, having gathered data from 280 companies in 59 countries and across four main market segments – exchanges, payments, custody and mining.