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RE: Bitcoin Via iMessage, Germans Hoarding Cash At Home And Why Newbies Are So Illogical (The Cryptoverse #107 - Feature Length Episode Feat. Josh Scigala from Vaultoro)
Interesting that you have to convert money you earn in Bitcoin to cash to get it on the accounts. I had wondered about that. There's potential to hide some earnings that way, but it depends on how clued up the taxman is these days. Can you keep the btc and take it from other funds?
It's going to be interesting when the Steem economy really gets going.
I wanted to account for the Bitcoin by holding it on my balance sheet and adjust the value periodically but that went against my accountants advice.
I then had another accountant comment on one of my youtube videos saying that I could keep the Bitcoin.
So much conflicting advice!
I guess the accountants don't really know. Not read it yet, but I see the Revenue has been looking into it
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