The latest news from Wealth Adviser
  Wealth Adviser logo
NEWSLETTER | 15 Jul 2021  

Crypto craze continues


A news story this week reveals research from UK-based money app Ziglu reveals that 11 per cent of UK adults are contemplating buying cryptocurrencies for the first time over the next 12 months. Some 3 per cent - around 1.57 million people – say they will definitely buy their first cryptocurrencies in the next 12 months, and 8 per cent - 4.2 million people – say it is quite likely they will do this.

Ziglu’s research also shows that one in 10 UK adults currently already own cryptocurrencies. In terms of why people are planning to buy their first cryptocurrencies, 29 per cent said it is because it has become easier to test the market by buying a small amount, while 27 per cent said they plan to buy because they expect valuations to increase. 

Our In My Opinion this week reminds investors that having – hopefully - made money in cryptocurrencies, investors need to pay tax on the assets. Yvonne Steyn, Senior Associate, Maitland has addressed the taxing subject of how an investor’s cryptoassets will be taxed in the UK, commenting that with bitcoin advancing more than 300 per cent in 2020, and 73 per cent of HNW individuals expected to invest in cryptoassets before the end of 2022, understanding how digital assets will be taxed is essential. 
 

Beverly Chandler, managing editor
 



 
  LATEST NEWS
The Index Industry Association finds growing global investor demand for ESG products
Tue | 13 Jul 2021, 10:42
The Index Industry Association has recently conducted its latest survey of 300 US and European asset managers, focusing this time on ESG.
  READ MORE  >
Research reveals 11 per cent of UK adults are contemplating first cryptocurrency purchase
Wed | 14 Jul 2021, 10:14
New research from UK-based money app Ziglu reveals that 11 per cent of UK adults are contemplating buying cryptocurrencies for the first time over the next 12 months. Some 3 per cent - around 1.57 million people – say they will definitely buy their first cryptocurrencies in the next 12 months, and 8 per cent - 4.2 million people – say it is quite likely they will do this.
  READ MORE  >
Two in three consumers are in the dark over where their pensions are invested
Mon | 12 Jul 2021, 15:46
According to new research from the fintech pensions challenger, Penfold, over two thirds (67 per cent) of consumers do not know where their pension is invested. 
  READ MORE  >
 
MORE NEWS STORIES  >
 
  In My Opinion

How your cryptoassets will be taxed in the UK

Yvonne Steyn, Senior Associate, Maitland has addressed the taxing subject of how an investor’s cryptoassets will be taxed in the UK

 
Read more  >

Copyright © 2021 All Rights Reserved

About | Disclaimer