Navigating Crypto Payroll: The Future Looks Bright for SMEs
The UK has introduced a significant change to its tax code with the new “no gain, no loss” (NGNL) framework. It aims to ease the tax burdens on decentralized finance users, which could transform how small and medium enterprises (SMEs) manage crypto payroll. We could be looking at a future where crypto payroll becomes a mainstream option for businesses, simplifying processes like cross-border payroll.
What’s the NGNL Tax Framework?
This change is a pretty big deal. It essentially means that users who deposit tokens into lending pools or liquidity mechanisms will not be hit with immediate capital-gains tax. Instead, taxes will only apply when a true economic disposal occurs—think selling an asset. This is all about aligning tax…
