The UK can Finally Have a Real Bitcoin Exchange
UK Bitcoin users no longer have to pay VAT on Bitcoin transactions. Until recently, the United Kingdom's HMRC (Her Majesty's Revenue and Customs) classified Bitcoins as a type of taxable voucher. This meant that Bitcoins were subject to VAT (Value Added Tax - a type of sales tax used across Europe). As a result, anyone selling Bitcoins in the UK would have to charge a 20% markup to cover the VAT, making UK Bitcoin exchanges extremely unattractive. However, Tom Robinson from BitPrice, entrepreneur Michael Parsons, Marc Warne from BittyLicious, and Eitan Jankelewitz from Sheridans met with....
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