DWI CPD Test: Got Crypto? Listen To This To Make Sure You Don't Break Any Tax Rules

1. Why is understanding crypto tax important for investors?

To legally reduce tax liability

To avoid trading

To increase volatility

To stop inflation

2. Which government department oversees cryptocurrency tax rules in the UK?

DVLA

HMRC

NHS

FCA

3. What happens if you don’t declare crypto gains to HMRC?

Nothing

Your account closes

You get free tokens

You may face fines and penalties

4. What is the main tax applied when selling crypto at a gain?

Inheritance Tax

Council Tax

Capital Gains Tax

VAT

5. Which event often triggers Capital Gains Tax (CGT) on crypto?

Holding crypto in a wallet

Selling crypto for a profit

Moving crypto between wallets

Reading crypto news