Cryptoassets Manual

CRYPTO44150 - Cryptoassets for businesses: Stamp Duty, Stamp Duty Reserve Tax and Stamp Duty Land Tax: exchange tokens given as consideration

Exchange tokens could be given as consideration for purchases of 바카라 사이트榮tock or marketable securities바카라 사이트� and/or 바카라 사이트榗hargeable securities바카라 사이트�.

For Stamp Duty, chargeable consideration is 바카라 사이트榤oney바카라 사이트�, 바카라 사이트榮tock or marketable securities바카라 사이트� or 바카라 사이트榙ebt바카라 사이트�. For SDRT it is defined as 바카라 사이트榤oney or money바카라 사이트檚 worth바카라 사이트�.

If exchange tokens are given as consideration, this would count as 바카라 사이트榤oney바카라 사이트檚 worth바카라 사이트� and so be chargeable for SDRT purposes. Tax will be due based on the pound sterling value of the exchange tokens at the relevant date.

HMRC does not consider exchange tokens to be currency or money, so they do not meet the definition of 바카라 사이트榤oney바카라 사이트� for Stamp Duty consideration purposes. They will also generally not count as 바카라 사이트榮tock or marketable securities바카라 사이트�.

Broadly, 바카라 사이트榙ebt바카라 사이트� counts as chargeable consideration for Stamp Duty in the following scenarios:

• release of a debt 바카라 사이트� The seller has an outstanding debt to the purchaser (which could be in the form of exchange tokens). The seller transfers shares to the purchaser, and in consideration the purchaser releases the seller from the debt.
• debt is assumed 바카라 사이트� A third party has an outstanding debt to the purchaser (which could be in the form of exchange tokens). The seller transfers shares to the purchaser, and in consideration the seller is assigned the right to the debt from the third party.