Leaders List interview: 60 seconds with Jamie Nuttall, Myna Accountants

Date: 13 Nov 2024

Karen Jones

This week’s 60-second piece is dedicated to Jamie Nuttall, Director and Shareholder at Myna Accountants.

Tell Citywealth readers a bit about your role.

I am a Director and Shareholder at Myna Accountants, as well as a Fellow member of the ACCA. Myna is one of the UK’s leading firms specialising in crypto accountancy. In my role, I oversee our department, and I am responsible for providing educational content tailored to both investors and fellow accountants.

What does a typical day look like for you?

My day often starts with providing guidance to our teams, followed by client consultations and meetings with prospective clients. Much of my time is dedicated to researching the latest developments in Web3, a field filled with both challenges and innovation. I share these insights with our team and present them in forums such as universities, professional webinars, and live spaces on X (formerly Twitter) to engage with our community.

Tell us about some recent, interesting client instructions/requests you have received.

We recently worked on a complex project involving multiple tax years’ worth of trading, digital land rentals, and other blockchain investments—totalling over five million transactions. This unique project required a partnership between Myna and a specialised software solutions company to manage the data generated by automated smart contracts. Our team devoted significant hours to processing this data and presenting it in a clear and accessible format for our client.

What challenges do your clients face, and how are you helping them to overcome these obstacles?

The evolving and often unclear landscape of crypto guidance and legislation presents a significant challenge for our clients. This rapid growth of innovation often out paces guidance from regulatory bodies such as HMRC. By working closely with clients, I witness firsthand the processes that eventually shape tax treatments. This insight allows us to advise on best practices and help clients navigate the complexities of crypto accounting.

What is your proudest professional achievement?

Public speaking and helping to lead the crypto tax space alongside my business partner, Joe David, have been my proudest achievements. Coming from a background with limited opportunities, I am especially proud to make a meaningful contribution that has the potential to impact the public on a national level—a goal I once thought would take years to realise.

What do you consider to be the most important attributes for a leader?

I believe the three most critical attributes are Strategy, Communication, and Courage. A clear strategy is essential to achieve any set goals. Strong communication skills are vital to align your team with these objectives. Finally, courage is required to have confidence in yourself and your team, empowering decisive action.

Who do you most admire and why?

I admire Steve Jobs. He came from humble beginnings and went on to revolutionise technology and shape the world as we know it. I hope to make a lasting impact in the UK’s crypto and taxation landscape in a similarly, although likely smaller, transformative way.

Where was the last place you traveled for work or pleasure?

I recently traveled to Lisbon for ApeFest, where members of the BAYC/MAYC community gathered to celebrate our Web3 community. Being surrounded by such talented individuals in one of the most prominent Web3 communities was inspiring, although the nightlife was unexpectedly lively!

If you weren’t in this industry, what else might you be doing?

As a drummer in a Disney Tribute band, I have a passion for music and would likely have pursued a career in the music industry. Though it’s a challenging path, music is truly uplifting and beneficial for mental health, making it a worthwhile and fulfilling career.

How do you relax after a long day?

I enjoy unwinding by playing music with either my band or my 3-year-old twins. When I have a quiet moment, I like to catch up on episodes of Brooklyn 99 and Suits, and stay active on Twitter to remain at the forefront of Web3 developments.