Taxing digital assets

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. To what does the term 'crypto asset' refer?

  2. Which of the following is not a crypto asset?

  3. Which of the following is not a key factor in determining if buying and selling crypto assets may constitute a trade?

  4. What may a company be doing if it is actively buying and selling crypto assets?

  5. What kind of tax might - most likely - apply to profits derived from crypto mining activities?

  6. What has becoming increasingly common?

  7. Why should agents be wary if one crypto asset is exchanged for another?

  8. What position does the European Court of Justice take on Bitcoin?

  9. How might you calculate payroll liabilities for an employee paid in a crypto asset?

  10. What tax applies to inherited crypto assets?