HMRC Vs Virtual money
I have some thoughts regarding taxing virtual currencies. Virtual currencies that exist in online games, such as World of Warcraft, Second Life and many others.There two ways to have these currencies: inside-game activity or through an external intermediary such as “Gold faming companies” which you can buy these currencies by shopping in their website.I think once the virtual currency is converted into real money and transferred into your bank account ; the tax man will wave at you because you earning money , have an established website and a business , so you need to declare your income and profits and pay the appropriate tax . The Tax man ( for example the HMRC- the UK Tax authority) does not care where this money come from or what is the nature of the business ! All they care about is that your earned money and its time to give him a piece of your treasure 
. I have looked at the HMRC website and I could not find a law that describes that issue. All I was able to find is online gambling gaming that resembles gambling machines. IF you know any related law please let me know. I also welcome further discussions on that matter as I will be posting more tax topics in the future
Thank you !
