Faces of Web3: Jamie Nuttall, UK Crypto Tax Specialist & AI Accountant

Faces of Web3: Jamie Nuttall, UK Crypto Tax Specialist and the AI-Era Accountant

Key takeaways

• Jamie Nuttall leads Myner L2, the crypto-focused arm of the Nephos accountancy group, with offices in Cheltenham, London, Dubai, South Africa, and the east of England.
• He started specialising in crypto tax in 2018–2019 after his first ever client lead came through asking for help with an Ethereum sale, and he had to choose between losing the lead and learning what he did not know.
• HMRC is now actively listening to a small group of UK practitioners (including Jamie) who are translating crypto practice into terms tax policy can act on, but he believes the UK still risks falling permanently behind countries like the US.
• Every crypto card transaction in the UK is a taxable event, a fact most retail crypto holders do not yet realise. He estimates roughly one in twelve people in the UK currently hold crypto.
• AI and blockchain will not replace accountants in his view; they will force the profession to elevate from compliance work to advisory and interpretation, the same way ledger software and self-assessment did in earlier decades.

In 2018, Jamie Nuttall almost lost the first ever client lead he had brought into his firm. The client had sold some Ethereum and needed help reporting it, and Jamie, who was an average tax manager at the time, had no idea what the client was talking about.

So he was faced with a career defining moment. He could lose the lead, or he could figure out what he didn’t know.

Eight years on, that decision has paid off in a way Jamie probably didn’t expect as he is now the Managing Director of Myna L2, the crypto-focused arm of the UK accountancy group Nephos, with offices in Cheltenham, London, Dubai, South Africa, and the east of England.

That first Ethereum client referred his friends, and word of mouth built one of the country’s small but growing groups of accountants who can speak with HMRC and the crypto community.

Jamie is now a regular speaker at well known conferences such as  Zebu live, the UKs flagship crypto conference, and ACCA conferences, and sits in the small group of UK practitioners actively translating crypto practice into terms HMRC can act on.

Outside the office, he is a drummer in a Disney tribute band, a bassist in a pop-punk band, a former American football coach, and a father to four-year-old twins.

By his own admission, he has been “investing, getting rugged, and making losses ever since” that first Ethereum lead walked through the door.

How do you define Web3?

In my mind, Web1 was about absorbing data, the reading of information. Web2 was about contributing data, putting your own content out there. Web3, I think, is about taking control of that back at the individual level.

If you log into Facebook, X, or Instagram, you are signing off rights to your own data. Your pictures, your videos, everything you do on those platforms can be sold on to other parties, which is why data is worth so much money in 2026.

Web3 is about pulling that control back, treating your data the way you would treat your own intellectual property: it is your information, your output, and the goal is to keep it that way rather than handing it to corporations.

How did you start in Web3?

At the time I was an average tax manager. My first ever client lead came through to the firm because of me, and in the early days it was very difficult to land clients without marketing or word of mouth. He told me he had sold some Ethereum and needed help with it, and my response was that I had no idea what he was talking about. I had to decide whether to lose my first ever potential client or figure out what was going on.

As I got into it, I started learning about smart contracts, then more about Bitcoin, and then I realised it was not just Bitcoin and Ethereum. There were dozens of different assets across the crypto space.

Slowly but surely I was learning more than the average person at the time.

We sorted that first client out, he told his friends in the space who needed help because there were not any accountants who dealt with this, and that more or less forced me into the specialism.

Crypto tax in the UK

How is HMRC handling crypto?

There has been progressas HMRC is now actively listening to people like myself and a few of my peers about how things actually work from a practical perspective. This collaboration means we are bridging the knowledge of the crypto space into terms that the government can understand, so the right people inside HMRC can act on it.

I worry that we are still so far behind, and that catching up with the US might be impossible at this point. It depends on what happens in the next few years, and unfortunately it is political.

Unless politicians take an active interest, very little will move until something has to happen.

Crypto card transactions are taxable in the UK. Are people aware?

Yes, they are taxable and no, many people are not aware that these are taxable.

Those transactions might be small, but they are still taxable events. As crypto becomes more mainstream over the next few years, people will be tapping their crypto card to buy a coffee, and the question becomes whether their accountant can recognise that as a taxable event, whether the software and AI solutions of that time can support that accountant, or whether the client gets pushed to a specialist for something that, in my world, is very straightforward.

Every accountant in the UK needs some basic knowledge of crypto.

What are the biggest societal opportunities Web3 brings?

The biggest one for me is transparency, and probably speed.

Take the National Health Service (NHS). All of the patient data could be on the blockchain, which would make it more secure, more accessible, and faster, with proper transparency built in.

I am fairly certain that in the little town where I live there are still paper files for patients. If a patient moves to a new doctor down the road, how does that data transfer cleanly?

What if some of it is lost in transit, or out of date?

Someone arrives in an emergency, allergic to penicillin, but the file does not show it because the diagnosis happened two days ago and never made it across.

That is a speed and trust problem the blockchain solves naturally.

Once blockchain is embedded properly in the back end, even people who pay close attention to this space will not notice that it is being used. It will just be part of society, the same way the internet became one.

Career, accountancy, and the AI era

Comfort vs Growth

“There is no growth in comfort, and we are comfort creatures.”

The issue is not that humans are looking for shortcuts, because if we find an easy one we will take it.

It is that real growth requires investing in something uncomfortable now in order to save time later. That uncomfortable phase is what most people shy away from.

What are your career highlights in Web3?

It has all been a bit of a blur, honestly.

The first one I would point to is the sheer volume of speaking slots as I love educating. I used to be an American football coach in the UK, so I am wired to coach and to talk to people.

Zebu has been a highlight, an event I attend every year, and the ACCA, the Association of Chartered Certified Accountants, has had me on recently and I will be going back at least twice in the coming few months.

Another big highlight is the clients who come to me distraught about what they think their crypto tax bill is going to be, because it is crypto and it feels so complicated.

To be able to walk them through it quickly, prove that the bill is not as bad as they thought, and resolve it legally and appropriately, that is the work that makes the rest of it worthwhile.

It feels like I am doing something right in my little boring accountancy world.

How will AI and blockchain disrupt accountancy?

To see how it will disrupt accountancy we first must look at the evolution of the accountancy profession. Years ago we had physical written ledgers, T-accounts, debits and credits in paper form. Then computer software came in, pushing ledger books out.

Accountants who used ledgers did not go out of business; they elevated their skill level, covered more clients, and shifted from compliance work toward advisory work.

The same thing happened when self-assessment was introduced and every taxpayer was expected to do their own taxes. The fear was that accountants would lose all their business. Self-assessment is still here, and so are accountants, because people still want peace of mind and expertise.

I think AI and crypto will do the same. They will force us to elevate, to be more hands-on with clients, and explain things in plain language so that people can easily understand.

What that looks like in practice: AI tools that speed up the documentation chase, blockchain rails that send data straight to me without a request, and even automated forecasting that traditionally would have taken a long time and cost a lot.

Where does that leave the accountant?

We become the interpreters of the data, the people who know which questions to ask. No matter how good AI gets, I will happily take it on and guarantee that there will be mistakes, not because AI is bad, but because of human error with the data.

What’s coming up for you in 2026?

With the launch of Myna L2, the franchise, we have a huge year ahead.

Plans for expansion, increased service levels, and AI integration into our workflow and systems. We want to be at the forefront of the crypto accountancy space, and leading technology and accountancy.

The buzzword right now is AI, and I am wary that there is a lot of rubbish to wade through, because only certain things make sense rather than the version of AI everyone else is reaching for. We do not tend to go with the grain.

We have offices in Cheltenham, London, Dubai, South Africa, and now a franchise in the east of England. I would not be surprised if Myna L2 specifically branches out toward the US, which is a small piece of alpha for anyone tracking us.

What inspires you to stay motivated professionally?

Legacy, more than anything. I am at the point in my career where I am trying to leave something behind, particularly for my twins.

Growing up with a humble background, and I want to make sure the people close to me do not have to struggle.

I am proud of where we are and what we are doing, and I just hope to continue it, leave a positive impact on as many people as possible (clients, staff, partners), and have a good time doing it. That tends to be a self-fulfilling motivation in itself.

When not working, where would we find you?

In a practice room, making music most likely. I am the drummer in a Disney tribute band and the bassist in a pop-punk band, which not many people know about.

Outside music, I will go and watch theatre when I can. I used to do a lot of theatre when I was younger and I have no time for it now, so I watch instead.

Beyond that, time with the kids, trying to teach them things, or just having a good time with them.

Final words

Talking with Jamie about his journey into Web3 and the world of accountancy, it is clear that he is a person driven to leave the world a better place.

He has a natural infinity to share his knowledge and skills. He chooses to apply these skills to improving the tax system and helping those who feel lost in the current systems.

If you are in the UK and it is time to sort out your crypto tax obligations, contact Jamie directly through Myna L2 or reach out to him on LinkedIn.

If Jamie’s story has inspired you and you’re craving more Web3 insights, dive into our exciting “Faces of Web3” series via our blog or get in touch to be featured.