Accountancy and Audit for Digital Assets businesses
We help you stay compliant, tax ready and audited
Our digital asset team supports individuals, organisations and investors with all their digital currency accounting and tax requirements, both in the UK and overseas, through our international association, DFK International. This sector moves quickly, in-line with ever evolving technology. Companies operating within it need to be able to rely upon and trust their accounting partner to be plugged into and on top of those changes, understanding how digital currencies function and the technology behind those currencies.
Gravita and Appold
We partner with Appold, together we offer an unmatched fusion of blockchain specialisation and audit rigour within the industry.
Who we work with
- Digital asset custodial firms
- Digital asset wallet providers
- Cryptocurrency exchanges
- FCA regulated digital asset benchmark providers
- High volume traders
- Self-employed, small entities and SMEs trading in digital assets
- Personal traders
We understand the difficulties associated with accounting for digital assets and crypto businesses
Rapidly evolving regulations and the need to stay up to date
Rules affecting digital assets continue to change at pace and that creates uncertainty for businesses and traders alike. It is hard to know what applies today and what may change tomorrow. We stay close to regulatory developments, so you do not have to second guess your position or risk falling behind new requirements.
High transaction volumes
Digital asset activity often involves thousands of transactions across multiple platforms and wallets. That volume makes record keeping complex and increases the risk of errors. We understand how to handle large and fast-moving data sets efficiently, giving you accurate reporting and a clear picture of performance without the manual burden.
Ambiguity in how regulations apply
Digital assets are often not referred to directly in legislation which leaves room for interpretation. This can create uncertainty around reporting, tax and compliance. We work with the detail of the rules and how they apply in practice, so you get informed guidance rather than guesswork when the wording is unclear.
Capital gains tax and crypto assets
Many individuals are caught out by how capital gains tax applies to crypto transactions. Disposals can arise in more ways than people expect, and record keeping is essential. We help you understand what is taxable, how gains are calculated and how to stay compliant without unnecessary surprises.
Understanding corporate tax rules
For companies operating in the digital assets space, corporate tax treatment can be complex and highly fact specific. Revenue streams vary widely, and the tax implications are not always obvious. We take the time to understand how your business generates value, so your corporate tax position reflects reality and stands up to scrutiny.
Gravita’s core services for digital assets businesses
We handle the day-to-day financial records for your digital assets activity, including transaction reconciliation, platform reporting and management accounts. This gives you a reliable picture of performance, strengthens your reporting and removes the burden of manual tracking across multiple wallets and exchanges.
Buying, selling and exchanging crypto can all create capital gains tax obligations. We help investors understand when tax applies, how gains are calculated and what records to keep. This helps you stay compliant and avoid unexpected liabilities further down the line.
Why Gravita?
Deep market experience
We have worked in the digital assets market for a decade and understand how the sector really operates. From complex transaction flows to evolving revenue models, this is not work we have learned from textbooks. It is built on years of hands on experience with real businesses and traders.
Recognised audit capability
Digital assets audits demand a higher level of technical understanding and controls. Our audit processes have been independently reviewed and meet almost all of the ICAEW requirements issued for this sector. That gives clients confidence that their reporting is robust, credible and taken seriously by regulators and investors.
International expertise
We developed our digital assets expertise alongside leading specialists through DFK International, our international association. That means shared best practice, access to deep technical insight and constant challenge of how we do things. Our clients benefit from a level of knowledge and perspective that very few UK firms can offer.
Our digital assets team
Digital currency and digital assets are somewhat of a new phenomenon, especially when you consider the pillars of finance and accounting have been in place for centuries. Also, the auditing of digital assets within the UK is, like many other things with the technology, in its infancy. Click here to learn more about audit and accounting for digital assets.
In the same way that Capital gains tax (CGT) is paid when a gain is made on the sale of certain assets, such as property or shares, when you sell digital assets (digital-asset exchange tokens) the increase of the value from when you bought the digital asset, is taxable. This also includes the exchange of one digital asset to another, all are subject to CGT. The Gravita tax team can help with, IHT on digital asset & compliance, and digital asset & corporate tax. Click here to learn more about tax for digital assets.
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