It looks like anderl's post struck a nerve. Once again Alpha sends out another non employee to express their "personal opinions", rather than Alpha posting themselves .
Alpha Technology is a “family-involved business” including accountants and software experts as well as Akram, an electronic engineer.
Same dude:
https://www.facebook.com/mohammed.j.akram.3So much back pedalling being done there. And it is very coincidental that he resurfaces months after that post to quickly try to distance himself from Alpha technology. And who can blame him. His posting on that blog was in the role of a tax "geek" as the book keeper for Alpha Technology. So his certifications may now on the line.
So it goes from a family involved businesses to a one man show who's father and brother just happened to loan the company several thousand dollars. yet the company only has a few dozen pounds as per the public record. I am a little concerned that the company is raking on those debt obligations as shareholders will take precedence to customers in a liquidation of the company if it ever goes into bankruptcy. So there better be evidence of actual financial transfers being made from the father and brothers accounts to Alpha Technology to support those claims and not that it is a bookkeeping line item that appeared as soon as insiders find that they are at risk of the company capsizing.
I've traded penny stocks in the past and I've seen corporate executives state taking on large deferred salaries, stock as compensation or load tons of money and huge interest rates to a public shell company only for public pump and dumps so they can wipe out the company and get paid before public shareholders. I want to point out that Alpha Technology is NOT a public company and that there CANT be a pump and dump going on here. I only state that a lot of financial activity goes on when companies are at high risk going forward.
I like this little exceprt form his post.
...and as a professional I cannot and will not advice on any area that I am not qualified to do so in. However, I would like to make the following point; the issue of whether or not people are businesses is a much wider concept than that of trading. I like how he states that as a professional he will not give advise. he is not qualified to do....
However.
Why do people do that. I mean its like saying. I'm an honest and open person and I would never lie to you... however. you try to step back from a a place that is in some legal limbo that you want to distance yourself from but you just can't leave it alone. You have to jump back in and put yourself back in that risky place you were trying to walk away from.
And the whole people are businesses is wider than the concept of trading. Hey Mister tax geek. Who said it was only in the context of trading. HMRC did not single out trading. They covered the whole gambit of all "Cryptocurrency activities", that includes trading, mining, storing, probably even hacking. You do NOT have to be a business to be a trader. In the United States you can be an individual and be qualified as a day trader by having an account with a minimum of $25,000.
This is another fun snippet. Again with the not an expert but I'm going to give you my opinion anyway. LOL
I am no expert in this area, however, if this situation was as simple and straightforward as some of these self-proclaimed “experts” are suggesting in certain forums, which I have just had a skim read through, and for arguments sake Alpha Technology’s solicitors who are actually experts in this area were wrong or Alpha Technology misunderstood the adviceSo lets stop right there. I never said I was an expert. I only said that it was the first time that I saw AT identify that it was the HMRC guidelines that AT was using as the definitive clause that makes all miners businesses.
However I do know how to read. I think I am am somewhat expert in the language of English. ANd I DO know what the word OR is for when it is in a sentence. Like for example. "
will be subject to Corporation Tax, Income Tax or Capital Gains Tax ", "Gains and losses incurred on Bitcoin or other cryptocurrencies are chargeable or allowable for Capital Gains Tax
if they accrue to an individual or, for Corporation Tax on chargeable gains if they accrue to a company."
See funny thing about the word OR. It means there is an option, that there is one way of looking at it and at least another way. That it can cover businesses or individuals. That does not sound like a definitive anything. And if Mr Tax Geek and Alpha Technology wants to prove that their expert legal team is right they can go present their position in a court of law when customers start filing claims against them.
, I am sure Trading Standards or any other regulatory body in charge of this would have forced Alpha Technology to change their terms to comply by now. I mean it has been 7 months or so since these terms went up.OMG!!! This is another supportive argument?!?!? "Well no one has noticed that we are doing this so it must be okay, right?!??!! If I drive on the highway at 100KMH I'm not violating the law because no one has pulled me over saying I'm driving too fast. I really hope that this is not the legal advice Alpha Technology is getting. And this is also the one statement that doesn't pass the smell test and makes all this expert legal advice questionable. Why would he come out and say that a regulatory body would have told us to stop if we were wrong. If a legal team gave them a solid footing to stand on their would not have to make a statement like that. If a regulator body did appear and tell them that it is wrong they could bring in their legal team and have them fight it out with the regulatory body. But to say well we haven't been found out yet. That just doesn't sound right. Like they don't have confidence in the interpretation that they made or that their expert international ninja lawyer team gave them.
(Again, I am no expert and neither do I speak on behalf of Alpha Technology… Just my thoughts) Again with not being an expert. Very good you know how to play dumb. Good for you. I'm sure it wasn't that much of a stretch. I' don't speak for Alpha Technology but I was a former director involved in the family business of Alpha Technology. I"m posting with an Alpha Technology account on an Alpha Technology website forum touting my work for the company doing bookkeeping.
All the backpedaling, identifying he is not an expert anymore even though he branded himself as a tax geek and expert in taxation of mining, trading and holding cryptocurrencies.
...Chartered Certified Accountant, qualified since 2012. I have an extremely high interest in different areas of taxation beyond and above the taxes I deal with in my day to day work.
I am a keen student of Tax and am currently working towards the Chartered Tax Adviser qualification (which is the “elite” and highest tax qualification you can achieve in the UK) and am looking to qualify as a CTA in late 2014.
Currently, working my regular full time job in general practice and dealing with the Accounts and Taxes of small to medium sized businesses. As of yet, none of our clients accept or deal with crypto currencies, however as the market for crypto currencies matures I am sure a lot of them will start to do so.
Unfortunately, I would not have any details or be able to help you with any questions relating to the operations of the business or any engineering related questions. Please direct these questions to one of the other Admins in this forum
What I would like to obtain from this Blog
My goal is to help people understand the tax implications of certain activities such as mining, and trading/ holding “crypto-coins” such as bitcoin's and litecoin's.
But now he is distancing himself from his expertise provided and trying to help distance his father all the while publically saying how much the company owns them. I'm sure if it ever goes to court he is going to print out all these posts point out how he was not as involved as everyone thinks he is.
So put up or shut up tax geek. Post publically the report from your legal team defining miners as businesses. I mean its not like it is a trade secret. It domes give you any economic advantage and will actually help your case as it will put a freeze to all the claims that are starting to be filed against Alpha Tech.