/biz/ - Business & Finance

>>22992918
I hope all of your networth is in Monero

tell them you lost it all gambling on niggercoin ticker (NIGR)

>>22992918
how is this legal
how

>>22992983
do you even need to ask

>>22992918
Call HMRC and ask for advice. Only way to not get fucked by them is to come across as a willing mong. Act like a mong, but act willing to comply

>I work for HMRC

>>22993067
can i do my own crypto taxes without exposing myself to getting assfucked by hmrc

>>22993067
haha do this op

>>22993067
>>I work for HMRC

how can i legally avoid you parasites

>>22992918
>do nothing for the exchange, provide no help or money for them
>do nothing for the buyer, provide no help or money for him
>do nothing for the product that you are buying, provide no help or money for it
>have absolutetly fuck all to do with this completely foreign trade thats happening between a person and a non british company
>somehow still take 20% of it
>that tax is going to be used to actively make YOUR life as a white brit worse, making sure you get no help from authorities when niggers who are brought into the country to replace you stab you and leave you to die
parklife innit

>>22992918
oi oi u got a loisence for those shitcoins m8?

>>22993330
I-It's still pending.. Will my internet licence cover it this one time, please officer?

>>22992918
I truly, t-r-u-l-y will never understand why EUfags use coinbase
We burgers are buttfucked and basically have to use it, but you euros have a trillion better options for crypto exchanges it makes no sense

>>22992918
Those withdrawals were hacks anon. It's tragic. Your capital gains for the year were all wiped out.

https://bisq.network/

>>22993067
Worst advice ever. Do NOT let these parasites open a case file on you.

The guidance on HMRC site is pretty clear desu. it's just treated as capital gains, but unfortunately crypto to crypto also counts as the realisation of a gain. E.g. if you buy £100 of BTC and then exchange it a year later for £200 of ETH.

Literally just ignore it

>>22992918
>>22993442
/thread
Godspeed OP

>>22992918
Is this income paid in crypto?

>>22993505
surely this would only apply if to exchanged for pounds?

>>22993376
Wot!? shitcoins with a standard internet loisence? u must be having a laugh m8 would you try to buy a knife with a spoon loisence? I'm arresting you under the counter-terrorism act

>>22992918
I wouldn't know. I've only lost money during my time on coinbase.

>be on vacation in bongland
>see Arya Stark gliding down the sidewalk
>like a graceful penguin with gout
>follow her for a block
>working up courage
>gently touch her shoulder
“H-hello, I’m Anon. Y-you’re the prettiest girl I’ve seen all day! W-would you join me for dinner?”
>she spins around nearly smashing me in the balls with an Abercrombie bag
>stares intently for a few moments
>then breaks into a grin that looks like she could eat an apple through a chain link fence
“YEH ORLRITE! FAK IT, WHY NOT? I CUD DO WIV SOME FREE GRUB ANNA LITTLE OF THE OL IN OUT!”
>quickly grab her hand and go into the first restaurant I see that has tablecloths
“FAKKIN ELL! POSH ERE INNIT? GLAD I PUT SUM KNICKERS ON!
>she lets out a little giggle that sounds like a horse with it’s leg caught in a wood chipper
>head waiter gives me the stinkeye but leads us to a table
>Arya cocks her head and squints at the menu
“ERE NOW, WATS THIS SHITE? IT’S ORL IN FAKKIN FRENCH! OI CARNT READ THIS, I’LL END UP GETTIN A PLATE OF FAKKIN SNAILS WUNNOI?!?”
>look at the menu. It’s in English, just a fancy script
>she shoves her menu at the waiter
“I WONT PIE AND MASH DUNNOI. PLENTY OF LIKKER ON THA MASH, GUV!”
“I’m sorry, madam, we don-“
“I SED FAKKIN PIE AND MASH M8! AND A PINTA LARGER FOR ME EDACHE!”
>he slinks away without even taking my order
>Arya pulls a pack of Mayfairs from her cleavage and sparks up, ashing in the bread basket
>starts rubbing at her crotch
>brings her fingers up and licks them then cackles
“JOLLY FAKKIN ELL, IT’S ME TIME! OI LUV GITTIN SHAGGED ONNA RAG! GUNNA AVE US A RED WEDDIN INNA LOO, AIN’T WE?”
>look over my shoulder and franticly signal the waiter for the check
>turn around
>Arya is slumped over the table
>raped to death by Pakis

mfw

>>22994017
Simple as

Gibraltar is still lovey this time of year. in fact I know somewhere going there for work purposes for five days next week and its mid twenties. There is also o income tax or capital gains tax.

>>22992918
print out the letter, poop on it, and send it to their office

>>22993878
Nah its when you swap crypto to crypto

>>22993509
This
just ignore anything in the UK
Never respond to letters
if they call you and ask to speak to you by name, ask who is calling before confirming- which they can not do- data protection.
If they knock on your door do the same or even better don't answer.
Never acknowledge them, it leaves them powerless and they will give up unless it's a large enough amount of money for them to really care.

>>22992918
You can't do anything. Pay your tax with your tax license. Think hard about where you can move to to avoid crypto tax in the future. But lets be realistic, you aren't going anywhere. Alternatively, you could talk to an account, tax lawyer(think free consult) and ask them how to best structure future tax business. Doubt it will be worth it for you. unless you have 6 figures

>>22994256
>>22994209
yes but once you get "hacked" and your coins move to a new address you've "lost" it all there's no tax burden. the burden of proof is then on them to prove that the address is yours - a near impossibility.

>>22994245
However this should work for many people. Get yourself as far out of the corrupt system as possible.

Bong here,I had my Bitcoin in Coinbase in 2017, should I quietly move them out to a private wallet or Tether them or is this a stupid move now that the HMRC kikes are watching?

>>22993067
Go fuck yourself.
Anons, don't listen to anything this kike says. All shills like this do is make you think the state is all powerful when it actually isn't, it's called a projection of power, not actual power.
The day these kikes fall is when the normies notice the emperor isn't wearing any clothes.
Funny how that happened today with Cheeto.

>>22994111
Checked and kekked

>>22994361
even if you get ""hacked"" you're liable for the tax burden incurred before, i.e. all coinbase transactions on your account, so that's a terrible excuse because you're basically acknowledging everything

>>22993067
b-bump. tell them we're alright anon

>>22992918
Capital Gains Tax Annual Allowance, try not to go over it and nobody's going to bother with your taxes.

This seems like Coinbase put up a fight at least and limited the scope of these kikes to what they're allowed to dip into.
Anons depositing anything in CB in 2019-20 will either not be stupid and have small holdings in there and I doubt there will be too many of them or they will have worked out how to game HMRC. I'm very doubtful that there's even one UK anon who put more than £100000 in there over the last 2 years. If there is, he is one dumb fucker and fools and their money...

Basically this seems like a hint by Coinbase (who are usually shitcunt kikes) for UK anons to get their shit out quietly and quickly. Just move it to a private wallet or just monero it.

>>22994433
Imagine if you withdrew them to a wallet and then a few days later they moved again.

Dear HMRC,

Sadly I was hacked on X date. This is a capital loss for me. Therefore I have no tax liability

Yours in tears,

Sad hacked anon.

>>22992918
I’ve been using Coinbase for a few years probably withdrawn around £60k in total. I haven’t gotten this email though? WTF DO I DO. I DONT EVEN KNOW HOW TO FILE TAXES.

>>22994534
There is no tax burden at it's a total loss. Your capital loss wipes out any capital gain.

>>22992918
You shouldn't have to worry. If you followed /biz/'s advice, you should have lost money all year.

>>22994111
Trips AND sides orbiting. Thanks anon.

Fuck.

Cashed out 100,000 grand from coinbase in 2018, after buying bitcoin at 800 euros and then around 2200 euros.

I've got so many transactions from selling small amounts and rebuying during dips, I've no idea what my actual tax is.

Congratulations coinbase, yet another country where no-one will ever use you again.

The three reasons I started buying crypto were:

I thought I might be furloughed and would therefore need drugs to get through lockdown

I didn't like the sound of the Weimar Republic money printing that's coming.

I had 15k but would still like the option to claim universal credit.

It turned out I was "essential", but I still will probably be laid off in December. I wonder if my now 20k, mostly in bitcoin on coinbase count as "savings"? According to HMRC it's not cash, it's capital.

I got this email too

Just gonna wait to see what happens

Done loads of purchases on coinbase and a few sales which prob put me over the CGT limit last year but not arsed. No chance HMRC have the resources to go after every person in the UK like me.

I have 100k+ LINK on my ledger and trading activity split equally over the last few years between Kraken, Coinbase and Binance. Good luck putting all that together

Gonna move to slovenia at some point and cash out at 0%

>sorry, lost it all on EMN, this crypto shit is tough innit

>>22995831
>According to HMRC it's not cash, it's capital.

Its whatever those cunts decide is the most expensive way to tax it. Its not a currency, its an asset like stocks, which technically means you don't pay capital gains tax until you cash out into fiat.

However they also want to do what the IRS does and make crypto-->crypto transactions despite no fiat profit occurring. Forex of course doesn't get taxed at all because its considered "voltatile".

Fucking fags lol.

>>22993067
DO NOT DO THIS DO NOT DO THIS

you people are cowardly scumbags, the way you people have handled IR35 and the fact that you BACKDATED THE FUCKING LAW JUST TO STEAL FROM MORE PEOPLE tells us everything we need to know

Fuck you

Fuck the horse you rode in on

Die in a fire

Cunt

>>22995856
Only works for this current tax year anon, I hope no-one earned bank in 2018 and then lost it all the next tax year. They would owe capital gains on whatever profits they made from bitcoin hitting 20k, even if they lost it all the first day in the next tax year.

Imagine not living in Poland.

Cash into stablecoin.
Trade however often and much you want.
Hedge in stablecoins however often and much you want.
Cash out and tax the gains (cash out minus cash in) once (19%).
Buy Corvette.
Go 300 on country roads or in city areas that don't count as such.
Noone cares.
Risk a maximum of a ~130 USD ticket and a couple of "points" which expire after a year.

>>22995831
Gold isn't considered cash either so BTC definitely isn't

>>22993242
Move to Portugal like I plan to. Look into it. No crypto taxes there.

As for being a parasite, not quite. I work in Customs, but have friends in Personal Tax (relevant to crypto). If you're not an idiot you could quite easily blag 'hacker took my coins', but, most of you probably are idiot enough to not pull this off fully. If you try it and fail, they WILL make an example out of you. If you do it, live the lie, i.e. tell friends and family the same bullshit. Only takes one to grass you up. But again, if you try this, you have to act like a mong. Most of HMRC are mongy drones so it works surprisingly well

I setup all my fiat in so it looks like I just lose money. Little does the IRS (lel) know that the losses were turned into xmr then abck into btc. Binance and alias bless.

>>22992918
My coinbase account has just gone under review, and I expect I'll be getting this email soon.

Not that I'm going to pay anything. I've not gone over £5000 yet and I'm barely in profit, probably lost money actually.

All that's going to come of it is I'm going to find an alternative exchange. Fuck coinbase.

And to the GCHQ glowie that's reading this, I fully intend to pay tax on any profit I cash out. In the meantime, you can eat my shit.