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News & Views from Alchemis

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Call us for a chat on +44 (0)20 7836 3678 or email Amanda Francis


Bitcoin sweetener

Following my last blog about bitcoin being just a little bit shady, it seems HMRC have decided to be all charitable to the concept by eliminating VAT from all transactions.

Well if HMRC are giving it a free pass, who am I to argue?

Or would I be too cynical if I said that maybe, what with anonymous transactions and untraceable audit trails, they just think it would be too damn hard trying to chase down the VAT on it. Just like when a builder wants cash in hand (rather than anything that could prove to HMRC that a payment of “x” amount was actually made) as “it’s more convenient”.

Yes, that’s right – I still don’t get the Bitcoin concept outside the world of dodgy dealings.

Saying that, I’ve been wrong before about developments in the digital age (in the early days of the company using Twitter I may have likened it to “having business Tourette’s”) so perhaps Alchemis will be accepting Bitcoin payments for new business campaigns in the not too distant future.

Watch this space…

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