I’m a freelance designer with a limited company and a client that I’ve worked with before wants me to work on an interesting project that partly involves NFT’s. He has suggested that he would prefer to pay me for this work in ETH. I’m not completely averse to this idea but I’m unsure on the tax implications of running it through my business. I’m going to have a chat with my accountant but wanted to see if anyone on here has done something similar and how best to approach it.
It would be treated as equivalent to the cash value. You may also end up with capital gains tax when you sell it but obviously it may go down in value (possibly very quickly).
Only seems worth it if they pay you considerably more than they would in cash.
I’m a freelance designer with a limited company and a client that I’ve worked with before wants me to work on an interesting project that partly involves NFT’s. He has suggested that he would prefer to pay me for this work in ETH. I’m not completely averse to this idea but I’m unsure on the tax implications of running it through my business. I’m going to have a chat with my accountant but wanted to see if anyone on here has done something similar and how best to approach it.