Bitcoin

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cooltony
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by cooltony » Sat Dec 30, 2017 9:23 am
Hi,
During my IVA I mined a few bitcoins, seeing as I couldn’t really afford to have much of a social life. Back then the values were pennies but now they have gone up so much. I never declared these as they were worth less than £2. I have completed my Iva but could they come after me for a portion of the bitcoin money?
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Foggy
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by Foggy » Sat Dec 30, 2017 9:32 am
As these cryptocurrencies were "purchased" during the IVA, with money from your allowances and were, then, penny shares status, I doubt they would have been interested and probably wouldn't even know about them if you cashed them now --- if, indeed, you can cash them in -- has anyone actually realised real cash dollars from them at current rates, apart from those at the top ? In any event, I would have thought that they would have been only entitled to the face value when the IVA ended -- which, again, would not have been an astronomical figure at that time.

Caveat: All guesses and conjecture as the rise in cryptocurrency is a new phenomenon and how they are to be dealt with hasn't been tested.
redboxtree
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by redboxtree » Sun Dec 31, 2017 11:26 am
Would not worry about it.
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Lisa Thomas
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by Lisa Thomas » Wed Jan 03, 2018 3:27 pm
Depends on the value...If material sum probably falls under the windfall/after acquired assets clause and vest in the IVA.
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