/biz/ - Business & Finance

>>50919627
.......

Bitcoin atm

>>50919627
>2.2 millions in a tax hell like bongland
how does 20 quid sound?

>>50919701
the idea is not to pay taxes

wait until you dont have to cash out anymore

I'm not sure but I reckon Isle of Man account might be the way forward. In a similar predicament desu.

>>50919627
USDT to GBP

>>50919627
This so much. Can one of you chumps be a lamb and tell me how to fucking cash out.

>>50919627
don't. If you have it on a cex or dex (unlikely at those amounts) move it to a hard wallet and leave the country. Go to an easy place first ie commonwealth or such and from there to another easy place based on different agreements and not in commonwealth. open bank and find a dex to sell your shit on and cash out to your local bank. Then move back; may want to keep the money in the foreign bank. Might consider setting up Ltd in that place with offshore officers which sets up Ltd in UK and buys real estate.
PS the moving around part is because you need to get residency in the final non commonwealth country to open bank accounts etc. Unironically look at Egypt or Jordan. You want established banking system with accounts with all the trimmings. And both likely have some financial history/connection to UK which means setting up 2 LTDs will be easier -and on the up and up for Inland Revenue.

Unfortunately 2.2 is not a lot, I'd advise you to get some advice from EY tax planning practice if it were. May find some cheaper shady alternatives but you can figure it out by reading stuff. All important is that if IR does not know about the money, to keep it that way. And tornado yourself with a few countries to set up a holding ltd that holds the ltd in bongistan and buys a property all cash (from the local ltd bank account moron). Then any accountant can help you build out a real estate business in the UK. Profits go to the holding in foreign country where they're taxed at tuppence.

And jumping through a few countries may not be necessary, it's just the destination country for your purpose may have a difficult residency regime for bongs. You may end up with having to invest part of your 2.2 in Jordanian shit real estate. Thats the point of picking easy country from UK -> easy country from country 2. IE Canada --> SAF.

>>50919627
Start with 8 million.

>>50919627
>>50919767

Do you know how much you would be taxed if you did cash out the normal way?

Depending on how much it is there are some alternatives, but if you are gonna get taxed less than the cost of those alternatives then fuck it, avoid the hassle.

>>50920283
>>50920283
uk capital gains is 20% iirc, not as bad as america

>>50919701
>20% capital gains tax
>Tax hell

just pay your taxes lmao, 20% of 2.2m is chump change, and certainly not worth the hassle that others are proposing.

>>50920396
Paying taxes is immoral and pays for stuff none of us like. OP should NEVER pay taxes.

OP buy a St. Lucia passport, go there, cash out, and find an advisor to help you launder the money back to where you need it. Or just cash out amounts you need for day to day spending (much easier to do through local bitcoin/monero IRL transactions).

>>50920332
So youre gonna pay like 420k in taxes more or less? You can get a passport for less than that, open an account in a Swiss bank that lets you cash out crypto, and then live your life between the caribbean and whatever other place you want to live in.

You would only be saving up like 100k or 200k out of those 420k with an operation like that. But its up to you if you think its worth all the hassle.

>>50919957
The IRS won't track this or anything

>>50920548
This is why irs created Bitcoin so they can track you dumbfucks

>>50919957
Just move to SARK
No tax at all there

but the only lambo you are able to drive is this one, no cars allowed on the island

>>50920670
>The IRS won't track this or anything
In Bongland? Yeah, probably not.

>>50920698
>IRS

Hes british you moron

>>50920936
What's the British IRS called??

>>50919627
Step 1: move to a Caribbean country
Step 2: cash out

>>50922248
Ministry of Gibs me Dat

>>50922248
Her Majesty's Revenue and Customs
HMRC

>>50922248
the tax man

>>50919627
I heard Gibraltar is nice around this time of the year

>>50922248
The Rothschild family

>>50919627
Withdraw 9999 dollars each day

>>50919701
CGT is relatively OK in Bongland. It's mid-upper class wages who get SUNAK'D

Why do you need 2.2mil "cashed out" anyway? Are you buying a house?

Leave the funds in crypto somewhere and take what you need, when you need it. Lump sum cashouts are retarded poorfag thinking.

>>50919627
You don't
You're supposed to re-invest
>getting real cash money to spend is the myth

How do I cash out $10m+ in Leafcuck land

>>50919627
>2.2 million dollars in bongland

Haha, you have won my friend. First thing i would do is avoid HMRC because they will be tracking you. Just leave England entirely.

Or pay a financial advisor to move it abroad. Dont do this by yourself, you'll get thrown in prison.