Accountancy Insights: Taxing cryptoassets and reporting suspicions of fraud

Accountancy Insights

In this episode, we discuss the available guidance on, and the application of general principles to, the taxation of cryptoassets; as well as how auditors should be acting on their obligation to report suspicions of fraud to the regulator.

Philippa Lamb is joined by Richard Jones, Senior Technical Manager in Tax Policy at ICAEW; Dion Seymour, Crypto and Digital Assets Technical Director at Andersen; and Reuben Wales, Head of Financial Services at ICAEW.

Time codes

• 00:38 Taxing cryptoassets
• 10:52 Reporting suspicions of fraud

Links

• ICAEW TAXline: The basics of taxing cryptoassets: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-basics-of-taxing-cryptoassets
• ICAEW TAXguide 01/2024: Taxation of cryptoassets for individuals: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-01-24
• ICAEW TAXguide 02/2024: Taxation of cryptoassets for businesses: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-02-24
• Financial Reporting Council: ISA (UK) 240: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-240/
• Financial Reporting Council: ISA (UK) 250 Section A: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-250-section-a/
• Financial Reporting Council: ISA (UK) 250 Section B: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-250-section-b/

Host

Philippa Lamb

Guests

• Richard Jones, Senior Technical Manager, Tax Policy, ICAEW
• Dion Seymour, Crypto and Digital Assets Technical Director, Andersen
• Reuben Wales, Head of Financial Services, ICAEW

Producer

Natalie Chisholm

Episode first published: 9 September 2024
Podcast recorded: 2 September 2024