On 21 October 2026, HMRC published new guidelines called Help with VAT on cryptoassets (GfC21). They explain how UK VAT applies to cryptoasset activity.
Who it affects
The guidelines are for businesses that sell, exchange or help others carry out cryptoasset transactions. If your business does any of these things, they are worth a look.
What the guidelines cover
HMRC says the guidelines will help you understand:
- how VAT applies to cryptoassets
- when you may need to register for VAT
- what customer information you need
- where VAT is due
- who must account for the VAT
HMRC also points to its rules on place of supply and on keeping records.
Why it matters
HMRC says that following the guidelines will help you reduce the risk of mistakes, VAT adjustments and penalties. In other words, getting this wrong could cost you money later.
What you need to do
The guidelines are on GOV.UK. Search for the title above to find them. They also link to HMRC's wider VAT guidance.
- Check whether your business sells, exchanges or facilitates cryptoasset transactions.
- If it does, read the guidelines and compare them with how you handle VAT now.
- Check whether you may need to register for VAT.
- Make sure you are collecting the customer information HMRC says you need.
The information we have seen does not give a deadline. It is still sensible to check your position sooner rather than later.
If you would like help working out how this applies to your business, please contact Oval Accountants.
Written by the team at Oval Accountants in Burgess Hill. If you're not sure how this affects you, ask us or call 01444 716592.
