/biz/ - Business & Finance

>>25447323
Looking at this SHIT. What I think they're saying is the amount you invest into a crypto in a 30-day period is subtracted from the total worth of the amount of it you use to to exchange for another coin. This shit is pissing me off fucking hell.

So, I buy X amount of XRP for £50 right fucking now, when moon, it is NOW worth £100,000. I then take half of that and invest in some other shitcoin.
So, in the eyes of the shithole hmrc fucking FAGGOTS, I have 50k worth of fiat buying power and used it to purchase another crypto, without first converting to fiat and THEN buying the crypto, like a fucking retard I suppose? SO you have to LARP THAT YOU CASHED OUT that 50k, tax it according to the capital gains tax bracket system (suck my dick) and then PAY FIAT YOU DONT ACTUALLY HAVE TO THE GOVERNMENT.

THIS IS BULLSHIT

So in closing, record all of this shit and DO NOT JUMP AROUND DIFFIRENT COINS unless you want to just end up overpaying taxes because you can't be fucked tracking this shit down, which is what I'd do If I went on an exchanging spree.
So, [value of crypto you used to exchange for another crypto] MINUS [Cost of investment made in a 30 day period for the initial crypto you bought way back] = LARP income you dont actually have in fiat, you then pay capital gains tax on this fucking shit, even though you have no money.
I fucking hate this.
Someone please correct me if I'm wrong. When moon I'm not going to take any chances and just call hmrc or a consultant or something, fuck these niggers.