Article

Crypto assets are not considered as eligible for Gift Aid

4 October 2024 | Applicable law: England and Wales | 1 minute read

HMRC have recently updated their guidance for charities relating to Gift Aid to clarify the position around crypto assets and Gift Aid.

It is now clear that crypto assets will not be eligible for Gift Aid as HMRC do not consider them to be currency or money.  Therefore, a donor wishing to make a donation to a charity using crypto assets should convert them to 'money' in order to be eligible for Gift Aid.  However, the donor should also be aware of any personal capital gains tax implications of this before doing so.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.

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