Bitcoin and HMRC

What does HMRC (UK Tax Authority), think of Crypto Currency?

At the moment, their position is very neutral. As you can see from their most recent published guidance in 2014. (Yes, that is the most recent published guidance!)

https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies

In summary, HMRC expect traders and businesses to follow existing rules and will look at each case on its own merits

There is good news for miners as their income from mining will be outside the scope of VAT. However, for traders, there are potential capital gains taxes which need to be considered.