CoinTracker, the global leader in cryptocurrency tax and portfolio tracking for consumers, announced its cooperation with By The Book Accountancy Limited today. Through the collaboration, the two groups will work together to publish several instructional materials and information for Bitcoin users in the UK. The Book Accountancy and CoinTracker are collaborating to simplify the complicated process of reporting taxes in compliance. By The Book, Accountancy Limited is a seasoned accountant with over ten years of expertise advising on UK taxes and small businesses.
UK looking into crypto regulation
In terms of taxing digital assets, there have been significant regulatory developments worldwide during the past year. While the UK Treasury is exploring substantial changes to how the cryptocurrency business is governed, the UK Parliament is now debating the Financial Services and Markets Bill, which would give regional financial authorities control over cryptocurrencies. UK crypto users must be provided with the necessary educational resources to file taxes confidently before the January 31st UK tax filing deadline as the regulatory environment continues to change. With its current UK Tax Guides for users of crypto, NFT, and DeFi, CoinTracker hopes to close the knowledge gap in this area.
According to Renaud Besnard, Head of Marketing at CoinTracker, Partnering with By The Book Accounting accelerates their core aim to facilitate the usage of Bitcoin with peace of mind.
“It’s critical that UK users are provided with the instructional materials and tools necessary to maintain compliance as tax season draws near. CoinTracker is beyond thrilled to join this esteemed group and contribute to making the filing of cryptocurrency taxes simple and effective.” He added.
What will the collaboration bring forth?
CoinTracker and By The Book Accounting will release a three-part instructional Twitter Space series to aid UK users in getting ready for tax season. The three sessions will be held at 6:30 PM UK on January 24, January 26, and January 30. The conversation will cover everything from capital gains and NFT taxes to money-saving strategies and seeking specialists. Shehan Chandrasekera, Head of Tax Strategy at CoinTracker, and Robin Thatcher, Managing Director of By The Book Accountancy Limited, will also speak.
According to Robin Thatcher, managing director of By The Book Accountancy Limited, for UK crypto users, there are a large number of doubts and worries as to how to file taxes effectively and reliably.
“We’re happy to collaborate with the CoinTracker team to give the instructional materials required to foster confidence among all UK users of digital assets. We are confident that our partnership will eliminate all uncertainty when submitting cryptocurrency taxes.
