HMRC VAT100 Reminders Sent Before End of VAT QuarterThe RNLI is the first major charity in the UK or Ireland to accept Bitcoin – a form of digital currency.Your Bitcoin donation will help train and equip lifesavers around the UK and Ireland.Our Bitcoin wallet address is 1PZ5ebvdt43dvRRgRNgBhsq2PwAKN4X6W.Thank you for your support.Why is the RNLI accepting Bitcoin?The RNLI has a history of innovation in fundraising, holding the first street collection in 1891.Bitcoin is an innovative new kind of currency and we believe that accepting Bitcoin will result in donations we may not otherwise receive, as well as connecting us with new types of supporters.Also, from our research into future trends, it looks likely that we will receive digital currency as a donation and/or as part of a legacy at some point and we want to be prepared for that eventuality.What other organisations accept Bitcoin in the UK and Ireland?Cumbria University became the first university in the world to accept Bitcoin for tuition fees in 2014.

There are Bitcoin ATMs in Dublin and London as well as lots of smaller retailers that accept them.Travel website Expedia accepts Bitcoin, along with small global charities The Water Project, Teach Africa and Virtual Doctors.Are Bitcoin donations anonymous?Yes, they work the same as a cash donation in that anyone can send them to us without providing their details.If people wish to hear from us in the future, they can provide their details voluntarily.What is one bitcoin worth?Can you accept smaller amounts?The value of one bitcoin varies.The ‘wallet’ – which is a kind of online collecting tin for Bitcoin – we have chosen to use allows for donations of 0.00000001 of a bitcoin.Is it safe and secure to donate Bitcoin to the RNLI?Yes, we’ve selected a provider that we believe offers the best level of protection for our Bitcoin in a hosted ‘wallet’ using two-factor authentication and AES encryption.As with all online transactions you should take care when entering your information and follow reasonable security measure with your personal information.

A unique feature of the Bitcoin system is that all Bitcoin transactions where funds move from one wallet to another are publicly visible in a public ledger that forms the basis of the Bitcoin system - called the blockchain.bitcoin amsterdam may 2014At present we have chosen to receive Bitcoin donations directly as a pilot scheme.bitcoin kurs 30 tageOnce the infrastructure and providers in the Bitcoin field mature, and, assuming there is demand, we will review integrating Bitcoin into our standard donation pages.bitcoin non vbvThere is currently no legal restriction for merchants to accept payments in Bitcoins in the UK, Ireland or the EU.bitcoin vinden

HMRC have issued guidance to companies on how to handle, record and tax Bitcoin transactions, and operations which the RNLI will comply with.bitcoin inequalityMore details on HMRC guidance are available here.ethereum slidesWhat about money laundering and proceeds of crime legislation?bitcoin core seedWe already have safeguards in place to monitor donations, however we receive them.bitcoin high tech campusIn addition, we will notify the Charity Commission should an individual anonymous donation exceed a certain amount.bitcoin gratis faucetWe have also reviewed our policy regarding any requests for significant refunds.Bitcoin payments are irreversible by the sender, so any refund would need to be made by request to the RNLI in writing and could be assessed at that point.

Do you accept Bitcoin at rnli college and in your shops?No, we have no plans at present to accept Bitcoin in any of our shops, museums, or in the facilities at RNLI College.How much does the RNLI expect to receive in donations from Bitcoin?The RNLI has not budgeted for any specific amount.This is a pilot scheme and we are looking forward to seeing how it will proceed as part of our interest in cryptocurrencies and how they may work in the future.We will of course closely monitor how much money is donated.Does this pilot/test affect any other methods for online donation?The ability to accept Bitcoin is in addition to all other existing online donation mechanisms.UK Gambling Commission warns bitcoin gambling websites BY ON July 01, 2015 The UK Gambling Commission (UKGC) says it has warned Bitcoin operators that gambling offerings to UK residents require a license, even if conducted through alternate currencies.The UKGC website published an FAQ with the title, “Why has the Gambling Commission written to Bitcoin operators?” in which the UKGC expressed its concern over illegal gambling operators providing services in the country.

The UKGC insists that “an operator needs to be licensed by the Gambling Commission regardless of where they are located in the world, if they provide facilities for gambling to consumers in Great Britain.” The commission also confirmed that it wrote to a number of operators which had been offering “prizes of money or money’s worth to gamblers,” stating that as Bitcoin comes under the category of money’s worth, therefore any operator offering this facility to gamblers in Britain requires a UK operating license or they are acting illegally.UKGC CEO Jenny Williams said that the Commission wrote to these operators who are either advertising gambling illegally or illegally offering gambling products to consumers, or both.“The Commission neither prohibits nor encourages bitcoin – we are interested only in ensuring the proper regulation of gambling products consumed in Britain.The currency is almost irrelevant as all operators need to satisfy themselves, and us, that they can fully meet all our requirements – particularly the requirements that ensure crime is kept out of gambling and consumers are protected,” added Williams.

The UKGC’s ruling is similar to Her Majesty’s Revenue & Customs (HMRC), which also considers bitcoin like money in exempting its purchase from VAT.In 2013, the UK government had suggested that bitcoin-based businesses would not have to register with regulators, stating that bitcoins wouldn’t be treated as money, but HMRC disagreed and had classed bitcoins as “single purpose vouchers,” rendering any sales of them liable to a value-added tax.Definition of bitcoin may differ depending on jurisdictions.In the US, bitcoin is considered an equivalent of money when it comes to money services license requirements but it is considered to be property for tax purposes.In July 2014, the Isle of Man Financial Supervision Commission indicated that digital currency businesses on the island would not be subject to a conduct of business or prudential regime by the commission unless they engage in activities regulated under the Financial Services Act of 2008, such as money transmission services.