My client has started a bitcoing trading operation through a Ltd Co. The bank account shows monies being deposited by third parties (transactions have the third parties name), and monies going out into a BitCoin exchange. From that point it gets very hazy, because we can see that bitcoins have been purchased, but they are then placed into wallets which are annonomous in that there is nothing to identify the owner by name. This prevents us having acceptable proof that funds going out are to fulfil genuine company trade expense.
Is anybody else struggling with this ?
Ideas and links to published guidance most welcome !