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Ethereum


It’s a popular cryptocurrency as well as another blockchain software. Enabling programmers to build decentralised apps, with their own functionality. The coins are made through a process called mining, done by specialised computers.

Ether can be sold for profit in the UK, it’s a taxable asset. If it’s done by your computer, it’s considered self-employment income. Income tax will need to be paid as well as Class 2 and Class 4 National Insurance. However, expenses can be claimed back, note - you will also have to pay capital gains tax.

If you make a loss, it can be claimed against other income or capital gains, either in this tax year or next.

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