WIS Accountancy

From 2026, crypto reporting in the UK is becoming more transparent. 👀

Under new reporting requirements, cryptoasset service providers may need to collect and report more information about users and their transactions, with international information sharing following from 2027.

If you buy, sell, exchange or transfer crypto, now is a good time to make sure your records are complete and your tax position is clear.

The takeaway? Don’t wait for HMRC to know about your crypto before you know your own numbers.

Keep good records, understand your obligations, and get advice if you’re unsure.

Need help making sense of your crypto tax position? Speak to the WIS Accountancy team.

The government has confirmed that all VAT invoices must be issued and received electronically from 2029. The planned system will use Peppol as the UK's core interoperability network.

Read More:
https://wisaccountancy.co.uk/uk-e-invoicing-2029/

From 6 April 2027, most unused pension funds and pension death benefits will be included in the value of a deceased person's estate for Inheritance Tax purposes. This is a major change because many discretionary pension funds have traditionally sat outside the estate for IHT.

Read More:
https://wisaccountancy.co.uk/inheritance-tax-on-pensions-2027/

Selling through Amazon, eBay or Etsy? Proposed VAT changes could affect how VAT is collected on certain UK marketplace sales.

HMRC is considering extending existing online marketplace VAT liability rules, potentially shifting responsibility for charging and accounting for VAT from qualifying UK sellers to the marketplace.

The proposals are aimed at tackling non-compliance and creating a fairer environment for businesses that already meet their VAT obligations.

The rules are not final yet, but online sellers should stay informed, keep accurate records and understand how any future changes could affect their VAT processes.

Swipe through for the key points.

Please note that our office will be closed for the Summer Bank Holiday and will reopen the following day.

We hope everyone enjoys a safe, relaxing and well-deserved break. ☀️

Thank you for your understanding, and we’ll be ready to assist you when we’re back.

Crypto gains from years ago can still create a tax problem today.

HMRC is increasing its focus on cryptoassets, and selling isn’t the only transaction that can count as a disposal. Exchanging one cryptoasset for another, spending crypto, or gifting it can also have tax implications.

If you’ve never reported previous crypto gains, now is a good time to review your transaction history and understand your position rather than waiting for HMRC to contact you.