Fiat off ramping UK

[Anonymous No.22784401]

Question for fellow Britbongs. How tf do you cash out if you make £1million +.

[Anonymous No.22784409]

google.com

[Anonymous No.22784417]

>>22784401
>he thinks he can cash out

[Anonymous No.22784439]

>>22784401
cash out low amount > move where no crypto taxes > cash out low amount until you get everything sorted out > cash out big amount

you fucking brainlets i swear

[Anonymous No.22784455]

I have heard that coinfloor is good for large withdrawals.

[Anonymous No.22784511]

>>22784439
This. Gibraltar is the place to go.

[Anonymous No.22784550]

>>22784401
What does cashing out mean?

[Anonymous No.22784896]

>>22784401
> Use link gains to win over a 10/10 girl
> hypo her into bimbofication
> get her flawless 30HH fake tits
> convince her to turn tricks on the street
> collect the cash in hand payments

[Anonymous No.22785104]

>>22784896
That's the dream lad

[Anonymous No.22785909]

>>22784401
Just pay capital gains at 20% you twat

[Anonymous No.22786099]

I don't plan on making that much, problem solved :)

[Anonymous No.22786543]

kraken.

[Anonymous No.22786570]

>>22785909
>20%

Bongs have it easy

[Anonymous No.22786609]

>>22786570
the paki finance minister is planning on raising it to 40%

[Anonymous No.22786624]

>>22784439
But you have to stay at least 1 year where there's no tax. What if your asset dumps in the meantime? And it will, we're talking about crypto here

[Anonymous No.22786678]

>>22786609
Good lord. Why is the West like this? What went wrong?

[Anonymous No.22786680]

>>22786609
Is that not just for second properties??

[Anonymous No.22786695]

>>22786609
Bullshit

[Anonymous No.22786783]

>>22786680
>>22786695
rumours that it *might* be hiked to the same rate as income tax across the board. your gains will be used to prop up the lifestyle of nogs and pakis

[Anonymous No.22786915]

>>22786624
bloody hell, there's a whole suite of defi asset stablecoins available these days. Use PAX USDC etc, wait out any crash in those

[Anonymous No.22787015]

>>22786915
>bloody hell, there's a whole suite of defi asset stablecoins available these days. Use PAX USDC etc, wait out any crash in those

This. There's little need to "cash out" large sums of fiat really these days.

Coinbase is very easy to work with, though. Basically fee-free if you use pro, and I have a 500k daily withdrawal limit so no probs there.

In practice, you're going to stay in crypto indefinitely and merely shuffle between assets.

[Anonymous No.22787105]

crypto to crypto is taxable lads and ive not declared anything once since 2016

how fucked am i?

[Anonymous No.22787229]

>>22786915


>>22787015

Are you dense? If you cash out to a stable coin you have to pay taxes on that. That defeats the whole point.

[Anonymous No.22787310]

>>22787229
are you fucking retard who cant figure out how to bypass that? Just fucking quickly jump into shitcoin of your choice from stables and cash out via it if you scared of stablecoin bogyman you idiots i swear

[Anonymous No.22787344]

>>22786609
It’s already 40 if you earn over 40

[Anonymous No.22787382]

>>22786783
Fack. Guess I won't be declaring anything if that's the case

[Anonymous No.22787410]

>>22784401
>How tf do you cash out if you make £1million +.
Link staking. You no need to cash out
Would you cash out Http if it let you have a living off it?

[Anonymous No.22787422]

>>22784401
Cash out into your family's bank accounts and make use of their 12.5k tax free cap gains

[Anonymous No.22787453]

>>22787310
But then you go back to my first question, which was, how do you wait one year in the foreign country as your stack will probably dump during that time

[Anonymous No.22787454]

>>22787382
Is there any way they can connect you personally to the addresses you use? If so, they'll eventually notice coins have been moved. Unless it looks like you're just changing wallets they'll start asking questions.

[Anonymous No.22787551]

Kek. Don't do this.
>>22787422
But do make use of any allowance your spouse has.
Also, if you're sitting on a mil, spend a few quid talking to a crypto accountant. He'll save you much more than he costs.

[Anonymous No.22787687]

>>22787454
>The charges, officer?

[Anonymous No.22787719]

>>22787229

You have to declare when you Tether up in the UK? That's news to me.. How would they even know?

[Anonymous No.22787747]

>>22787687
Tax evasion.

[Anonymous No.22787759]

>>22787454
It's a public ledger. Everyone can see every movement of every coin going back to day zero. If you onramped or offramped with Conebase or other KYC normie exchange then they have your details.
Making it, only to get flung in jail, isn't smart. Pay the robbers and at least you won't have to spend the rest of your life looking over your shoulder.

[Anonymous No.22787782]

>>22787747

[Anonymous No.22787821]

>>22787453
>how do you wait one year in the foreign country as your stack will probably dump during that time

...do you really not understand how stablecoins work?

[Anonymous No.22787835]

>>22787454

In theory I think you could convert everything into BTC then use a tumbling service to send it to a clean wallet.

[Anonymous No.22787859]

>>22787747
Guvnor I was 'acked innit! Some pikey swiped me ledger.

[Anonymous No.22787901]

>>22787835
>tax rate: 20%
>tumble rate: 30% (and still get caught)

[Anonymous No.22787904]

>>22787229
>If you cash out to a stable coin you have to pay taxes on that.

Why the fuck would you pay taxes to a ruined country like the UK? All so paki Mohammed and nigger Jamal can spend your tax money on weed and cocaine? Just leave the country and go where you are treated best in regards to tax. You can always go back and visit the UK if you need to, but you are not going to miss much.

[Anonymous No.22787965]

>>22787835
>In theory I think you could convert everything into BTC then use a tumbling service to send it to a clean wallet.

Sorry lad, it's not 2013 anymore, tumblers are near enough fucking useless now. Chainalysis will literally see it as a known tumbler service and still track your outputs.

[Anonymous No.22788074]

>>22787901
>>22787965

Fair enough. Haven't actually used one since 2013. Just emigrate.

[Anonymous No.22788105]

>>22784401
PAY YOUR TAXES
The NHS needs the money!!! Stop being selfish!!!

[Anonymous No.22788155]

>>22787551
Why don’t do what anon suggested, using familys’ bank accounts?

[Anonymous No.22788260]

I would have paid the 20% rate but if that paki cunt raises it to 40% then am I fuck gonna pay that

What's the best way to avoid paying it? Tether up, fuck off to Portugal for a year, become tax citizen there and cash out?

[Anonymous No.22788266]

>>22787904
ok you're retarded so I'll break it down for your little brain to process it

.have shitcoin stack
.want to cash out
.go to tax heaven
.have to wait 1 year there to be a tax resident

during this 1 year, if you cash out or convert to a stable coin THIS IS A FUCCKING TAXABLE EVENT AND THE HMRC WILL MAKE YOU PAY FOR IT.

So I ask my question again, how do you do it realistically, if not by knowing when the top will be one year prior?

God I'm all heated now fuck you are all retarded and the worst is you're arrogant as well. Arrogant stupid cunts

[Anonymous No.22788280]

>Cash out
>Don't tell HMRC

Don't pretend its less of a gamble than crypto

[Anonymous No.22788378]

>>22788280
Are there any loopholes where you can get away with not paying it?

I don't want to fund the tory cunts and their nigger/paki pets.

[Anonymous No.22788397]

>>22788266
This anon is correct albeit a tad angry...

[Anonymous No.22788412]

>>22788266

>THE HMRC WILL MAKE YOU PAY FOR IT.

>OH NO THE TAXMAN IN A SHITHOLE COUNTRY I DON'T EVEN LIVE IN ANYMORE IS GOING TO TAKE MY MONEY

LOL

LMAOING AT YOU RN IRL

YOU FAGGOT KEK

YOUR ANCESTORS FOUGHT UNDER THE BANNER OF WARLORDS, BRAVED THE DEEPEST OCEANS TO FIND NEW LANDS, PILLAGED AND BURNED NATIVE VILLAGES AND SETTLED WHEREVER THEY WANTED

AND YOU KEK OUT TO A GOVERNMENT STEALING YOUR MONEY TO PAY FOR HOTELS FOR 'REFUGEES' THAT CAN AFFORD TO PAY 4000 USD FOR A BOAT TO KENT

LMAO AT YOU

>your little brain to process it

I MAY HAVE A 'LITTLE BRAIN' BUT I HAVE BALLS OF FUCKING STEEL, UNLIKE YOU.

[Anonymous No.22788579]

Tax haven + fresh wallet
Shitcoin > Monero > Stable coin?

[Anonymous No.22788637]

>>22784401
use coinbase pro. get them to update your withdrawl limit to like 100k/day first, just ask them. withdrawl fees are like £1. Tell your bank first if you're not used to big numbers moving around. Withdraw it all. Get an accountant to help you declare 20% CGT, and pay HMRC. Done.

[Anonymous No.22788695]

>>22784401
I'm just taking the 20% capital gains hit. I can't be fucked running around with HMRC.

[Anonymous No.22788702]

>>22788637
But they're raising CGT up to 40% and FUCK giving away basically half of your gains so that niggers can stay lazy.
How do you cash out without reporting to HMRC and avoid getting done?

[Anonymous No.22788747]

>>22788155
If I own a bunch of houses and I sell one of them, can I say to the buyer "oh, just send the money to my brother's bank account"?

[Anonymous No.22788749]

>>22788637
yes, but do that after you've moved to gib and you don't pay the tax.

[Anonymous No.22788952]

>>22788702
This is an Ethiopian snowmobile repair forum, officer. You may receive a more informative answer to your question by putting it to a qualifed tax accountant.

[Anonymous No.22789417]

>>22788952
Bear in mind, if what you're doing looks like it might be money laundering, rather than just tax evasion, they're required to report it. They might be required to report tax evasion too, but I haven't checked the rules in a while.

[Anonymous No.22789467]

>>22788747
The banks will chase your brother up and ask where the money came from all the same

[Anonymous No.22789519]

>>22784401
I suggest you cash out by buying pms from certain bullion dealers that accept crypto

[Anonymous No.22789585]

>>22788378
No big loopholes, but hmrc only has so much manpower. Thinking they are going to get coinbase to divulge your account t details and spend months researching what money went where into what wallet is silly.

Shit most people in the crypto space can barely follow or make sense of etherscan, you think some 50 year old normies in hmrc are going to manage.

They have enough work to do anyway in the real world, let alone the fake internet money space.

They might eventually go after the big boys who cash into fiat so dump a lot at once.

U.K. isn’t the us, hmrc isn’t the irs. We are a joke of a country lol.

[Anonymous No.22789611]

>>22789585
Who* not so

[Anonymous No.22789888]

>>22788637
Thank you anon this is what i was looking for.

[Anonymous No.22790063]

>>22789417
tax avoidance =/= tax evasion

just go to gib and cash out. i done it in 2018. the rules are EVEN BETTER now. it's so easy.

[Anonymous No.22790348]

>>22786609
based Sunak

[Anonymous No.22790496]

>>22790063
Tax avoidance = using legal loopholes to minimise your tax burden. HMRC hates it, but can't do shit.
Tax evasion = straight up not paying tax, usually by hiding income. This will land you in legal trouble.

Not bothering to mention the moonshot you exchanged for tether would be tax evasion. Moving to Portugal for a year then doing it is tax avoidance.

[Anonymous No.22790875]

>>22790496
WHat if:
Buy shitcoin
Trade for tether
THEN move to Portugal?

I can't do that can I?

But:
Trade shitcoin for Tether
get shit together to move to Portugal
Move to portugal
Tether-Monero-Tether
Sell

That's survivable? Plausible deniability.

[Anonymous No.22790976]

>>22790875
If it's on an address that's connected to you through KYC and you've already made gains, it's too late. You could have bought, traded for Monero, then traded it back on a different, unrelated address, but the time for that was when you first bought.

[Anonymous No.22790988]

Cant we just withdraw a grand or two a week? Might take an age, but who's going to notice that?

And spend through something like revolut?

[Anonymous No.22791046]

>>22790988
If you cash in less than £12k a year (iirc) then there's no capital gains tax.

[Anonymous No.22791049]

Jesus. The state of the replies ITT.

Aside from reading into personal tax law, there are literally 100s of ways that you can avoid tax in the UK and overseas territories.

If OP is genuinely sitting on £1m+ and wants to cash out, he can do that tax free IF he does their own research and are willing to suffer some minor inconveniences in time and money.

This is not difficult anons.

[Anonymous No.22791785]

>>22791046
They'll slash to zero to pay for the virus hoax.

[Anonymous No.22791979]

>>22791049
Post some then

[Anonymous No.22792030]

>>22787719
They don't, these people are fucking idiots, talking about both the anons here and the Jewish HMRC taxman.
I haven't heard of anyone getting caught out, the Jews haven't caught up with crypto yet, so do things early on and just get out of this turdcutter of a "country". Don't pay the cunts a penny, they don't deserve it. All they deserve are multiple bullets to the back of the skull.

[Anonymous No.22792091]

Just look at these spastic paranoid bongs and laugh at how they have no spine or balls to even risk just fucking over the taxman like millions of pakis are doing daily. It's not hard to see why the empire failed.

[Anonymous No.22792111]

>>22788280
Ah one guy with sense and/or balls

[Anonymous No.22792151]

>>22790496
yes, that's what i am saying. tax avoidance is legal. and by cashing out in gib you're legal. i've done it. i cashed out more than 500k after setting up a residence in gib.

i emailed my advisor (also based in gib) last week due to the amount of money in defi right now, and he says it's still the same. money in vs money out in bongland. in gib it's just money out = fuck all tax as long as it's crypto and you can prove your trades. which is fine, i send them all the transactions and everything, everything. i pay zero tax. i paid £1000 into coinbase to buy shitcoin. i then profited £2M from shit coin trading. oh did you? yup, i did, here's the trades. oh well that's cool man, enjoy your free money.

not to mention it's all white people here and cheap as fuck. you can get cheap boats and everything.

[Anonymous No.22792178]

>>22790496
You're mentally retarded. Consider roping yourself, I can guarantee this is the least shit day of the rest of your life.

[Anonymous No.22792207]

>>22792151
Did you do the trades before setting up the residence?

[Anonymous No.22792245]

>>22785909
>20%
Haha its 28% and 18% with entrepreneurs relief

[Anonymous No.22792281]

>>22788280
This, HMRC is an old, they will take years before they can do anything

[Anonymous No.22792345]

>>22791979
>Declaring yourself non-tax resident at the start of any tax year. Move to another jurisdiction(s) to cash out or sell/buy backs before you return back to the UK as a resident - therefore no gains.
>Lots of jurisdictions which will give you residence and/or tax breaks when you 'invest' into certain sectors
>Huge selection of Isle of Man/Channel island/BVI/Gibraltarian/Cayman island LLP/trust structures to suit personal circumstances and needs (literally get on a plane to Guernsey and talk to some lawyers and accountants)

For the less internationally adventurous:
>On-shore LLPs/Ltds wtih nominees & abuse the 'tax-free' allowances

>On-top of this you have all the other usual money-laundering things which although easy are illegal.

>>22790988 would get noticed unless it is a pathetically small amount. Banks will flag these type of unusual drip-feeds.

[Anonymous No.22792431]

>>22792207
you can, doesn't matter. as long as your resident of gib at the time of cashing out and don't plan on going back to the uk for some time. can't remember how long but i could get it for you.

the best way nowadays is to become resident in gib, put £10 into coinbase and then do whatever with it. then monero all your money then btc to cash out. it's just money in vs money out and money out has no tax in gib as long as you made the investment after being resident no inquiry

[Anonymous No.22792679]

>>22792345
Is it like a year you can't go back for or longer?

[Anonymous No.22792745]

>>22792151
What were the initial requirements and costs for Gib? Can you come to the UK after?

[Anonymous No.22792778]

>>22792679
Not spoonfeeding

[Anonymous No.22792781]

>>22792679
you can go back, but not more than 183 days otherwise you'll become resident of the uk and have to pay crypto tax because the tax laws are not the same. i've emailed my guy just now but he'll probably not get back to me till tomorrow.

there's also like consecutive days and all other shite. i've had too many drinks to explain it all sorry. but basically don't go back for more than 6 months. anyway why would you go back for such a long time given that you had so much money? go back every so often to see your family and that's it. cash out all your money first then you're good. buy a boat and sail the world.

[Anonymous No.22792812]

>>22792431
>and don't plan on going back to the uk


Dude I want to still live in the UK.

I don't have a million but may if link moons have around£150k. What do I do?

I can't go gib since it's 150k not 1.5m

[Anonymous No.22792821]

>>22792245
It's 20% you fucking nugget. 28% is for residential property only.

[Anonymous No.22792826]

>>22792745
hardly anything. a flight is like £50 or something, and because you're a uk citizen you can go there and stay on 'holiday' while on 'holiday' you can pick up a job to become resident. if you're mega bucks you don't even need to job now, but i did at the time iirc. to prove i wanted to stay there for the foreseeable future.

you can go back, you just can't go back long enough that you become a citizen of the uk iirc. but i'm drunk rn man. take it with a grain of salt

[Anonymous No.22792847]

>>22786543

Explain?

[Anonymous No.22792848]

>>22792781
How's life in Gib? Never been. How is the internet speed?
How do you bring back the cash in UK when you come back in a few years? Thank you

[Anonymous No.22792869]

>>22787422
Don't do this, unless you want your family asking why they are being audited

[Anonymous No.22792873]

>>22792812
why would you want to live in the uk lol. unless you're a multi millionaire and can afford an outright house in the lake district what's the point? gib is sweet af. nice spanish talking women everywhere, cheap af for booze and cigs. nice weather.
i don't live here for more than half the year. i have a boat which i sail around the med. and when i'm not in the med i'm in asia meeting up with old friends.
life good man

[Anonymous No.22792902]

>>22788747
thats not the same as cashing out <12k though

[Anonymous No.22792926]

>>22792848
as long as the cash is verified (ie you cashed out legally in gib) you can transfer that money to a uk based bank if you so need. but you don't need to, unless you're buying a house. just use revolut or some shit like that and you can spend all your money wherever you want all over the world.
internet speed i dunno, i don't live at home much, i stay in antibes or palma

[Anonymous No.22792932]

>>22788260
Not raising to 40% lmao.

[Anonymous No.22792934]

>>22787105

Depends. Brit tax office asks co-operating exchanges to disclose NYC'd customers who have traded greater than the £10,000 capital gains allowance per tax year.

Avoid trading greater than that with any one account until your safely in a location without taxation on capital gains.

[Anonymous No.22792977]

>>22788412
Back on planet earth.

If he avoids tax on £1 million, you think they arent gonna notice. No bank is even gonna allow him to cash out anywhere close to that without being warned about it first & its automatically forwarded to HMRC.

Like are you a brainlet or no? It has nothing to do with your weird ass full caps bullshit, lmao.

[Anonymous No.22793000]

>>22787719

Taxman asks exchanges to disclose NYC'd customers who have traded greater than the allowance in any one tax year.

[Anonymous No.22793017]

>>22792245
It is 20%

[Anonymous No.22793026]

>>22792926
Thanks man enjoy life!

The situation for me is, I'm a brainlet and will only have £150k ish to cash out.

Since it's not 500k plus, I don't see Gib being a practical option for me,. I still have to wageslave, as it's only 150k

What would you recommend?

[Anonymous No.22793031]

>>22792934
>location without taxation on capital gains
Slovenia

[Anonymous No.22793039]

>>22792934
>asks co-operating exchanges

which ones co-operate though?

[Anonymous No.22793053]

>>22792869
it wouldnt harm to do it just once for a few k though would it?

[Anonymous No.22793150]

>>22793026
if that 150k is in crypto solid projects, then just wait a few years till it's more than 500k.
or you could go the way of localbitcoins and have people mail you cash and you give them crypto.

just wait though imo unless you really need more than your gt allowance. get enough built up and then get the fuck outta doge

[Anonymous No.22793179]

Capital Gains is 10% if you're on under 50k. Honestly not a problem.

[Anonymous No.22793608]

>>22792826
Not exactly how this works.
If the amount you're cashing out + your income end up taking you above that 50k, then you get hit with the 20%

[Anonymous No.22793922]

>>22784401
Coinfloor

[Anonymous No.22793944]

>>22793179
>>22793179

Capital gains adds to your tax though so cashing out 1m+ would be 20% tax pretty much

[Anonymous No.22793980]

>>22784401
Literally just pull the tax free 11k then move to Jersey

[Anonymous No.22794003]

>>22793017
it's going up to 30%

[Anonymous No.22794010]

>>22793000

Would a kyc exchange like coinbase know about your trades on other non kyc exchanges?

[Anonymous No.22794308]

what are peoples opinion about Malta?

[Anonymous No.22794466]

>>22789585
This.

HMRC are going to be extremely busy trying to figure out which turks and pakis scammed them with the furlough scheme, or forged massive fake customer transactions for the Eat to Help Out scheme(seriously there is massive fraud done by restaurants on this) for the next few years.

Crypto and its complexity, and tracking down autism wallets is going to be done eventually but fucking no way they have the competence or man power do do it in the near future.

[Anonymous No.22794824]

New Zealand doesnt have CGT and I have an NZ passport. When I cash out its going into my NZ bank account. Suck my dick HMRC

[Anonymous No.22795004]

>>22789585
true. people overestimate their competence.

[Anonymous No.22795233]

>>22793608
no, not if you're resident in gib when you cash out. i done it in 2018 while being a wagie in asda

[Anonymous No.22796510]

>>22794824
Dunno who told you this but we absolutely do. Just not on real estate.

[Anonymous No.22796543]

>>22794824
https://www.canstarblue.co.nz/banking-insurance/tax-agents/the-lowdown-on-capital-gains-tax-in-new-zealand/

[Anonymous No.22796781]

>>22785909
Why not just go down to golders green, find people who hate you and give it to them?

After that you can let them spit in your face and call you racist if you like.

[Anonymous No.22796819]

>>22787759
Hello HMRC shill

[Anonymous No.22796842]

>>22788266
Incorrect. Once you leave you are OUTSIDE of UK jurisdiction.

Also no one with an IQ over 105 would let the UK see what they were doing.

[Anonymous No.22796863]

>>22788397
No he's not. If you leave the UK they have no jurisdiction over you. IF you came back to LIVE (not visit) then they might have jurisdiction again.

[Anonymous No.22797071]

Weren't there some reports of there being vending machines that sell you gold for bitcoin? Probably not in the bongland but in some actual nice places like dubai or singapore. Gold has no cgt in the uk (I think). If there's one of these machines anywhere in the uk that could be a nice loophole.

[Anonymous No.22797165]

>>22797071
UK currency has no CGT, so gold and silver Britannia coins (which are currency) have no CGT.

You still might end up having to explain the income if they start looking.

[Anonymous No.22797227]

>>22797165
Gold is good at holding its value over time. There's no need to cash it all in at once. Just sell it off slowly to live off and it won't draw attention.

[Anonymous No.22797338]

>>22797071
>dubai
there are not even atms allowed in UAE.