Brit/biz/. Frozen CGT edition.

[Anonymous No.30120067]

BUDGET KEY POINTS:
https://www.bbc.co.uk/news/uk-politics-56266773


>Furlough to be extended until the end of September
>Government to continue paying 80% of employees' wages for hours they cannot work
>Employers to be asked to contribute 10% in July and 20% in August and September
>600,000 more self-employed people will be eligible for help as access to grants is widened
>£20 uplift in Universal Credit to be extended for another six months
>Minimum wage to increase to £8.91 an hour from April.
>UK economy forecast to return to pre-Covid levels by middle of 2022
>Annual growth set to rebound by 4% this year, followed by 7.3% growth in 2022
>Unemployment expected to peak at 6.5% next year, lower than 11.9% previously predicted
>UK to borrow a peacetime record of £355bn this year.
>Borrowing to total £234bn in 2021-22
>Debt as a share of GDP to fall from 4.5% next year to 3.5% in 2022-23
>No changes to rates of income tax, national insurance or VAT
>Personal income tax allowance to be frozen at £12,570 from 2022 to 2026
>Higher rate income tax threshold to be frozen at £50,270 from 2022 to 2026
>Corporation tax on company profits to rise from 19% to 25% in April 2023
>Rate to be kept at 19% for about 1.5 million smaller companies
>£19m for domestic violence programmes, funding network of respite rooms
>£40m of funding for Thalidomide victims and lifetime support guarantee
>£400m to help arts venues in England, including museums and galleries, re-open
>£300m recovery package for professional sport and £25m for grassroots football
>Incentive grants for apprenticeships to rise to £3,000 and £126 for traineeships
>VAT cut for hospitality firms to be maintained at 5% until September
>Interim 12.5% rate to apply for the following six months
>Business rates holiday for firms in England will continue from April until June
>£5bn in re-opening grants for non-essential businesses of up to £6,000 per premises.

WE DID IT LADS. No rate increase till 2026!

[Anonymous No.30120176]

My brother in law says this guy will be the next PM, I don't know how I feel. On one hand he's doing a pretty good job but on the other he's a paki and pol will laugh at us

[Anonymous No.30120207]

>>30120176
I will never vote for a Paki or a woman. Simple as.

[Anonymous No.30120209]

First for I apologise Rishi

[Anonymous No.30120223]

>>30120067
Thanks for freezing CGT Rishi, based pajeet.

My leftwing gf didn't like what he had to say either so that's all a bonus in my book.

Fuck getting a mortgage though not even 1% deposit would me me fall for this scam of home ownership.

[Anonymous No.30120244]

>>30120176
That's why he extended furlough so much. All the neets will vote for him

[Anonymous No.30120267]

Is it worth going for the 5% H2B equity loan for new builds?

[Anonymous No.30120270]

>>30120223
they’re fucking you in other ways don’t let the kikes fool you.

[Anonymous No.30120298]

Also, what's a free port exactly and how do I profit from this?

[Anonymous No.30120310]

>>30120176
He's definitely PM matieral. Well-spoken, fairly clever, well-groomed, well-connected.
He's a paki though, and believe it or not but the country is still too white to vote in a paki. Not happening, not for at least another decade.

[Anonymous No.30120357]

>>30120270
Yeah the Freeze in tax free allowance is a sneaky one. I've already made that difference on paper anyway so fuck em.

>>30120207
based.

>>30120176
He will never win because the majority of middle England is like >>30120207

[Anonymous No.30120414]

>>30120357
he doesn't have to win a general election though, if Boris stands down he could be voted in by the conservative party. You're probably right that he would never win an election, but he could still be PM for a time

[Anonymous No.30120478]

>>30120414
good point, it's how Gordon Brown got in. He was a fucking hopeless Chancellor though selling our gold.

[Anonymous No.30120485]

very based budget. keeping my income low so i only have to pay 10% CGT. not worth it to pay 20% on 8 figures. what a fucking result

[Anonymous No.30120501]

>1 bedroom flat in manchester is 70k
>tax evading chink im renting from costs me 400 all in (about 150 from that is council tax/heat/water/power/maintenance)
>I get to enjoy peace and quiet since theres nobody here

Im kind of tempted to get an apartment to build equity, but
>maintenance fees
>interest
>ground fees
>possibility of noisy motherfuckers

I literally cannot stand hearing other people, if I hear other peoples conversations or music or telly or wahtever while im enjoying my privacy I will literally roid rage and stab them.
Feels like, the possibility of douchebag neighbors make me just want to stay in my chinkhome and use the savings for stocks.

[Anonymous No.30120525]

>>30120357
i don't understand why freezing the allowance is sneaky? what impact does this have? seems like basically nothing?

[Anonymous No.30120611]

>>30120525
It usually goes up every year. By freezing it for 5 years he is essentially robbing us of a fairly hefty increase over that half-decade.
It's far, far less damaging than a flat % rates increase though, so we'll let him off with it.

[Anonymous No.30120646]

>>30120357
>Yeah the Freeze in tax free allowance is a sneaky one. I've already made that difference on paper anyway so fuck em.

lol, it's £12k bro

[Anonymous No.30120667]

>>30120223
>left wing gf

you can do better mate, she doesnt deserve to share in your crypto riches

[Anonymous No.30120684]

>no NI, VAT, OR Income Tax raises
>CGT left alone

Wtf we're not being shafted for once?
Is Rishi actually based?

[Anonymous No.30120705]

>Just going to cash out a penny below the allowance every year
Feels good bro

[Anonymous No.30120724]

>>30120525
It is basically a reverse income tax that is a bet against inflation. People's wages will increase with inflation, but their tax free amount will stay the same (it has always been increased with inflation), this will result in a slight increase in amount of taxes/NI collected off individual income but will amount to potentially billions in the next couple years.

[Anonymous No.30120726]

>>30120501
I'm the same, so for me a detached house with plenty of land all round is the only solution. Been fortunate to never have lived in an apartment. Stay where you are imo, no commitment that way. If you buy a place and regret it, it'll be the biggest ballache.

[Anonymous No.30120759]

>>30120485
anon, i don't think this is how it works.
>https://www.gov.uk/capital-gains-tax/rates
>If you’re a basic rate taxpayer, the rate you pay depends on the size of your gain, your taxable income and whether your gain is from residential property or other assets.
>Work out how much taxable income you have - this is your income minus your Personal Allowance and any other Income Tax reliefs you’re entitled to.
>Work out your total taxable gains.
>Deduct your tax-free allowance from your total taxable gains.
>Add this amount to your taxable income.
>If this amount is within the basic Income Tax band you’ll pay 10% on your gains (or 18% on residential property). You’ll pay 20% (or 28% on residential property) on any amount above the basic tax rate.
>>30120646
>>30120724
ah i understand thank you frens

[Anonymous No.30120763]

>>30120705
>Making such shitty gains that this is actually a viable plan
Sorry to hear that bro.

[Anonymous No.30120804]

>>30120763
You don't know what my gains are bro, I could have 500k in my portfolio, but it's untouchable unless I cash out

[Anonymous No.30120834]

People like 'hmmmm i dont know if i want Rishi to be PM....'
Fucking look at the opposition and then tell yourself if your gonna vote in Rishi or vote in someone that is going to destroy the country for SJW's and metropolitan London

[Anonymous No.30120870]

>>30120759
desu mate I've never looked deeply into it as I haven't cashed out anything over the threshold before. thanks for the heads up though, it was a nice delusion while it lasted

[Anonymous No.30120878]

>>30120067
When I was younger and more naive I was more liberal but I was never completely without doubt about being left wing because I saw that the older people got, the more they moved to the right and so I assumed there would come a day and I had no idea when or why, that I would become a Tory voter for life.

It's been a long time coming.

But today is that day.

[Anonymous No.30120897]

>>30120804
If you do have 500k in your portfolio then it would take 40 years to cash out this way. That's absurd.

[Anonymous No.30120933]

>>30120804
god, why does such a small percentage of britbiz bros not understand how tax on crypto works. you have to pay a shit ton of tax, this year.
>https://koinly.io/guides/hmrc-cryptocurrency-tax-guide/

[Anonymous No.30121017]

>>30120724
>hyperinflation kicks in
>a hamburger is now worth 1k
>our tax free allowance is still only 12k

I seriously hope you spent all your bitcoin on CGT-free gold bullions.

[Anonymous No.30121051]

>>30120267
If it's anything like the current h2b equity loan then it can be comfy if you pay off the government stake during the 5 year interest free period. Bear in mind this might involve other costs such as having the house valued whenever you want to repay a chunk.

[Anonymous No.30121060]

>>30120878
lmao
I can't vote Tory because they won't stop bringing in immigrants, and I'm basically a fascist. If they lowered immigration to 'acceptable' levels I'd vote for them in a heartbeat. Fuck Labour, they're fucking gay cunts.
To put this in perspective the first vote I ever cast was for Lib Dems in 2010. Yes, I was one of the many retarded students who brought the country a fucking Con-Lib coalition.
I learned my lesson pretty fucking quickly. Liberals are fucking retarded. Conservatives are cunts.
Better the clever cunt than the permanently incompetent.

[Anonymous No.30121123]

>>30120933
>>30120759
i think i will start posting a weekly public service announcement on this board because literally only 5% of crypto biztards in the UK know that every single crypto trade they make is taxable
in the vast majority of cases, if you are reading this, and are dealing with amounts of money over £10k, you need to pay tax THIS YEAR

[Anonymous No.30121138]

>>30120933
>Individuals that hold crypto as a personal investment will be liable to pay capital gains tax when they dispose of their cryptocurrency.
> 'Disposal' has been defined by the HMRC as:
>selling crypto assets for money
>exchanging crypto assets for a different type of crypto asset
>using crypto assets to pay for goods or services
>giving away crypto assets to another person

[Anonymous No.30121169]

One day people in this country will wish they voted in Corbyn, the only good politician we’ve had in decades, into power.

[Anonymous No.30121173]

>>30120067
>>UK to borrow a peacetime record of £355bn this year.

Just fuck my economy up

[Anonymous No.30121192]

>>30120933
Everytime I try to read that guide I get fucking sweaty and begin to breathe heavily. I'm somewhat of a brainlet and I just can't deal with it. It's too complicated. I'm just paying a flat in/out profit margin tax this year and if they audit me I'll play dumb.

[Anonymous No.30121209]

>>30121060
anything is better than starmer giving 50 billion for trannies, refugees and single mothers.

At least the immigrants bojo wants are more likely to work minimum wage or in paki stores.

[Anonymous No.30121226]

>>30121123
you only pay tax on the gain

if you buy £5k worth of ETH and trade that for £5k worth of some random shit coin you still havent gained anything

[Anonymous No.30121292]

Can any brits confirm that unless I cash out more than 12.5k in one year, I don’t need to declare gains/pay tax?
I’m also interested in doing some leveraged futures trading, assuming my total gains are below 12.5k, again, do I need to pay taxes? Is every crypto-crypto transaction taxable in the UK?

[Anonymous No.30121319]

>>30120310
>He's definitely PM matieral. Well-spoken, fairly clever, well-groomed, well-connected.
these are all bad things, and why the world is in such a state
you've just been conditioned to only accept these fucked pedos who go to their elite schools to be taught hoe to bum and be bummed
leadership does not have to and in fact should not come from exclusively upper classes as it does
these people don't live in reality

[Anonymous No.30121334]

>>30121123
this doenst apply to me, i've been all in Link since 2017 and havent traded once

[Anonymous No.30121373]

>>30120067
The hard-working Pakistani is proud when his fellow tribesman delivers such a superb budget.

[Anonymous No.30121396]

>>30121123
Don't need to pay tax on unrealised profits. simple as

[Anonymous No.30121452]

>>30121173
that's good. if GBP/USD goes down, our portfolios are worth more in £

[Anonymous No.30121474]

>>30120067
Lmao literally in the last thread had an ex-hmrc employee telling me I’d “eat my words” over claiming there wouldn’t be any tax hikes for the next year at least. Imagine being a government employee and being less informed than a retard like me

[Anonymous No.30121491]

>>30121396
is this bait? selling is classed as realising gains, even if its one shitcoin to another

[Anonymous No.30121503]

>>30121292
You pay tax on any GAIN made upon disposal of an asset.

If you had £1k BTC and it went up to £15k then you traded that BTC into a bunch of alt coins you would have gained £14k and that would be taxable, obviously theres the allowance too so only about £1.5k would be taxable.

There is a lot of scaremongring going around about taxes here.

Really unless you are a day trader or have made some big flips from one coin to another there isnt that much to worry about.

[Anonymous No.30121509]

>>30121123
You only pay tax on REALIZED PROFIT you mongolid.

[Anonymous No.30121510]

>>30121192
>I'll play dumb.
same except I am dumb so it will be easy

[Anonymous No.30121522]

>>30121192
I think it's basically
Every gain you've made this year: 12k of it doesn't get taxed, 10% on anything between 12-50k and 20% on anything over 50k. Your taxable income (everything you earn over personal allowance) is also factored into the figure

[Anonymous No.30121521]

>>30121396
Exactly, the UK government does not recognize crypto as a currency, it's only when you convert it into currency that they care
>HMRC does not consider cryptoassets to be currency or money.

[Anonymous No.30121529]

>>30120067
Looks like the move to Portugal has been scrapped.

[Anonymous No.30121531]

>>30121292
Correct. Keep in mind however that crypto-to-crypto GAINS are taxed. If you, like so many of us, impulsively trade shitcoins about, you will be expected to pay tax on the PROFITS from those transactions, of anything over 12.5k.

[Anonymous No.30121582]

>>30121292
read the thread
>>30121226
yes you only pay tax on the gain. if you haven't made any gains then you have bigger problems.
>>30121334
based.
>>30121396
HMRC count crypto to crypto trades as a profit realising event. simple as anon.
>>30121192
well, good luck. i assume you don't have life changing money in crypto so can afford to fuck about. if you have serious money in crypto, you need to do your taxes properly. use koinly or equivalent, it's not even expensive.

[Anonymous No.30121589]

>>30121474
there was an article this morning claiming 83% of financial advisers were expecting a CGT hike. fuck the 'experts', they know sod-all

[Anonymous No.30121601]

>>30121491
im not SELLING my btc im BUYING that shitcoin

[Anonymous No.30121613]

>>30121319
I never said they were good things. I said he was PM material, and he is, and you admitted as much.

[Anonymous No.30121687]

>>30121582
>HMRC count crypto to crypto trades as a profit realising event. simple as anon.

Only good thing about this shithole

[Anonymous No.30121715]

>>30121601
If you are buying with new fiat thats fine then

[Anonymous No.30121750]

>>30121582
youre also ignoring that you need to GAIN and DISPOSE of the asset for it to be taxable

If I buy some shitcoin and it goes up 100000x it isnt taxable until I dispose of the asset.

[Anonymous No.30121900]

>>30121509
can you literally not read? as has been mentioned 100 times, trading crypto for crypto is a profit realising event.
>>30121750
correct. i'm not ignoring this. it's implied. see >>30121334
>>30121503
>unless you have made some big flips from one coin to another there isnt that much to worry about.
yes anon, so 90% of the board.

[Anonymous No.30121942]

>>30120267
>Is it worth going for the 5% H2B equity loan for new builds?

>buying a new build
>ever

[Anonymous No.30121963]

>>30121900
fair enough then m8

[Anonymous No.30121989]

Why do people stress over this shit so much? Just set aside 50% of your gains at all time and you'll be fine

[Anonymous No.30122108]

>>30121522
This isn't so bad. I'm just going to pay for Koinly in April and use the email service to ask them these questions and try and get it down as much as possible.
>>30121529
No joke, anon, I was speaking to a Portugese lawyer (friendly, free consulation, nothing too serious) about a move there this year, and how best to go about it. Gonna tell him I don't need his advice now. Gonna stay here. I don't really wanna pay any tax but I cba moving and since they haven't raised it I'll just pay it as a show of faith.

[Anonymous No.30122151]

>>30120834
>Fucking look at the opposition and then tell yourself if your gonna vote in Rishi or vote in someone that is going to destroy the country for SJW's and metropolitan London

why yes, i will vote for the acceleration candidate.

[Anonymous No.30122154]

>>30121522
Fuck... is what I wrote correct?
>Every gain you've made this year + your taxable income. 12.5k tax free, 10% on 12.5-50k and 20% on 50k+
So you're paying tax on your income as well? Fuck I've gone and confused myself lads

[Anonymous No.30122158]

>>30121582
Ivan you know it's past 5pm in vladivostock you should be off the clock by now and going back to your family.

[Anonymous No.30122167]

>>30121989
>Just set aside 50% of your gains at all time

HFSP

[Anonymous No.30122234]

>>30121942
dont you be insulting my barrat homes lad

[Anonymous No.30122276]

>>30121503
What’s the problem with being a daytrader?
If I understand correctly, assuming your final profit is still below 12.5k, daytrading and gaining/losing miniscule amounts wouldn’t be taxable?

[Anonymous No.30122284]

>>30121522

what do you mean 10% between 12-50k. I don't think that's how it works

[Anonymous No.30122311]

>>30121989
>just set aside 50% of your gains at all times
mfw
it's stressful because maintaining the necessary record of your crypto transactions is a ballache and has real potentially serious consequences. i'm also posturing with extra stress itt in the hopes that i will break through the dull barrier of britanons' brains so they will realise that they need to take this seriously.

[Anonymous No.30122372]

>>30122154
>>30122284
Yep just reread the gov website and realised you just pay either 10% or 20% on the gain my bad

[Anonymous No.30122412]

[Anonymous No.30122512]

>realised about £2k in profit above the allowance in 2017/2018
>didn't think about taxes at all so never paid it
>about £400 owed
>haven't traded since, just holding Link and DIP forever (made about £227 this year by swapping some ETH I was holding according to Koinly)
Should I be concerned?

[Anonymous No.30122513]

based sushi

[Anonymous No.30122557]

>>30122412
.... does this actually work

[Anonymous No.30122591]

>>30120501
some apartment buildings/tenement blocks genuinely block out sound pretty well to the point where you only hear the odd muffled bang once a week, at least thats how it is in mine. try get in touch with a few tenants in the building and ask how much noise travels and how generally noisy the people in the block are

[Anonymous No.30122607]

>>30122512
Not overly, but just to scare the shit out of you, every day you're late returning your taxes is a £10 fine lol. That 400 quid might cost you thousands and thousands.

[Anonymous No.30122614]

>>30122372
Incorrect. I mean unless you're a fast food worker I guess

[Anonymous No.30122685]

Lads I was on furlough and resigned in September 2020 thinking furlough was ending. Was getting £1650 a month. Then Rishi extended furlough not once but twice, meaning I've missed out on twenty grand.

[Anonymous No.30122773]

>>30122607
Got a source for this? I've seen details of penalties but not £10/day. Only plan on selling staking gains from Link so if I file those as income and pay tax on them I should be alright surely.

[Anonymous No.30122778]

>>30121503
no they only tax pounds. so if you trade BTC straight into say XRP on a BTC/XRP pair you arnt going to be taxed anything. its only when you turn that XRP into £ does HMRC get involved

[Anonymous No.30122795]

>>30122685
LOL this happened to me too mate. I quit in October. Was only a shitty min wage job with commission so have missed out on about 12 grand. Feel like a right cunt. My mate who is in the same job still fucking laughs at me and shows me his wage packet everytime he gets it, the cunt.

[Anonymous No.30122804]

>>30122614
>only fast food workers earn under 50k
errrrrrrrrr ok breh

[Anonymous No.30122881]

>>30121192
Read more anon...

[Anonymous No.30122900]

>>30122607
>making shit up

what legislation is this under?

you can be charged with Failing to Notify if you should have filed a return and didnt, this would be a penalty on a % of the amount of tax owed plus interest, nothing close to £10/day

[Anonymous No.30122959]

>>30122773
>Penalties
>You’ll get a penalty if you need to send a tax return and you miss the deadline for submitting it or paying your bill.

>You’ll pay a late filing penalty of £100 if your tax return is up to 3 months late. >You’ll have to pay more if it’s later, or if you pay your tax bill late.

>You’ll be charged interest on late payments.

>Estimate your penalty for Self Assessment tax returns more than 3 months late, and late payments.

https://www.gov.uk/self-assessment-tax-returns/penalties

Not ten quid a day, then, but interest on a flat penalty of 4 fucking years is going to be a lot of money, mate.

[Anonymous No.30122982]

>>30122795
Good to know I'm not the only one. The feeling is suicide inducing

[Anonymous No.30123050]

>>30122778
This is completely incorrect. If you buy Ethereum and it moons and then you buy Doge, you will be taxed on that profit, and then if Doge moons and you buy Ethereum again you will be taxed there, too. You are taxed on all profit from EVERY SINGLE TRADE.

[Anonymous No.30123272]

>>30123050
No, it isnt. You think they can tax you in Doge? Silly cunt thinks HMRC has a Doge or ETH wallet, silly cunt. Lay off the smack lad

[Anonymous No.30123279]

>>30123050
So if you’re daytrader and you end up gaining and losing on a regular basis, you’ll get fucked when you have to pay on gains on all the profitable transactions? Am I getting this right? How does 12.5k apply to this scenario?

[Anonymous No.30123289]

>>30122959
i've been trading since 2017 and never cashed out or paid taxes. it does scare me a bit. i earned around 30k and recently i've earned about 60k more. i reckon the fines alone must be over 10k.

i've considered just saying i found the btc or something so i can just pay the flat 20%.

[Anonymous No.30123365]

sold my stock at the bottom again lads

[Anonymous No.30123414]

>>30121582
>HMRC count crypto to crypto trades as a profit realising event. simple as anon.
Post a source, every document I've read regarding this has indicated a realized gain or loss is only measured when converting to fiat (possibly pegged crypto that's backed by fiat), DAI should be fine.

I was researching this just last year but open to be proven wrong.

Also... fuck selling into a shitty financial system, I came to the conclusion that I'm never going back last year and glad I did.

[Anonymous No.30123655]

>>30122959
you dont pay a late submission penalty unless you were actually asked to file a return and didnt

if they didnt know you owed tax until years later it a Failure to Notify penalty as it's your duty (in their eyes) to notify HMRC of any liability

[Anonymous No.30123920]

crypto to crypto is a taxable event faggots

[Anonymous No.30124061]

>>30123920
So don't crypto to crypto lmfao, what are you poor?

[Anonymous No.30124182]

>>30124061
wdym faggot, some people in here say this isnt the case, Im just stating a fact

[Anonymous No.30124189]

>>30123414
>every document I've read

Did you try reading the government tax website where it clearly says crypto to crypto, yes including dai and your waifu nft collection

[Anonymous No.30124262]

>>30124182
It is the case, I just don't know why people would crypto-to-crypto, it seems like such a poorfag thing to do, that they can't even afford to have a portfolio without moving bits around, lmfao'ing

[Anonymous No.30124369]

>>30123414
i've posted two sources already in this thread that directly address your claim. again i refer to "read the thread".

[Anonymous No.30124443]

>>30124262
LMAO I agree with you there if you have a serious portfolio, what about the anons that play shitcoinroulette on uniswap tho? Once your shitcoin does a 10-30x you naturally put it into the next shitcoin and so on

[Anonymous No.30124512]

>>30124189
Link it then

DAI is a collateral backed loan, the exact same as taking a loan by putting up non-crypto assets for collateral and not paying any tax (how rich people live).

Nevermind DAI, show me where you're getting your facts on hmrc

[Anonymous No.30124669]

>>30120176
Tories are clearly searching for non-white PM material to own the libs. Sajid Javid had similar speculation for a while.

Sunak could just as easily disappear in a cabinet reshuffle.

[Anonymous No.30124707]

>>30124512
Its literally the first duckduckgo result you lazy nerd

[Anonymous No.30124745]

>>30124369
If this is your source
>https://koinly.io/guides/hmrc-cryptocurrency-tax-guide/

It's absolute shit, I disregarded the moment they couldn't understand capital gains tax basics i.e. this bullshit statement
>Individuals that hold crypto as a personal investment will be liable to pay capital gains tax when they dispose of their cryptocurrency. 'Disposal' has been defined by the HMRC as:
>giving away crypto assets to another person

[Anonymous No.30124933]

>>30124262
>>30124443
>>30124262
i get you're trolling, but when you already have 8 figures of btc, it's the best way to allocate. if you're holding that much in cash, you're retarded

[Anonymous No.30124963]

>>30124745
LMFAO
you are literally a moron
they are copying and pasting from gov.uk website
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals#capital-gains-tax

[Anonymous No.30125561]

>You do not pay Capital Gains Tax on assets you give or sell to your husband, wife or civil partner, unless:

>you separated and did not live together at all in that tax year
>you gave them goods for their business to sell on


>If they later sell the asset
>Your spouse or civil partner may have to pay tax on any gain if they later dispose of the asset.

>Their gain will be calculated on the difference in value between when you first owned the asset and when they disposed of it.

Reminder to find a loyal wife who will cash out half of your gains for you so you can pay less tax

[Anonymous No.30125566]

>>30124745
how can you be so dumb anon?

[Anonymous No.30125690]

>>30121060
I've never voted lol. Too young at 2017 election and couldn't be fucked in 2019. No party deserves /biz/'s vote.

[Anonymous No.30125805]

>>30121123
shut up you melt

[Anonymous No.30125822]

>>30120501
Sup fellow Manc bro, I’ve had a flat since 2016 but selling it and rebuying over near media city.
I like owning as it gives me way more freedom over the property and not have to contact and get approval from some landlord prick each time I want to change something

[Anonymous No.30125989]

>>30125561
>half of your gains
how? as in they'll fall under the poxy 50k and only pay 10% as opposed to 20%?

[Anonymous No.30125992]

>>30125805
enjoy getting a spank from her majesty while she confiscates your gains deano

[Anonymous No.30126244]

>>30125989
Yes.

In theory you could together cash out up to £24600 without paying any tax.

[Anonymous No.30126255]

>>30125822
doesn't sound like you have autism like me or him though. as someone who loathes the sound of neighbours, he's in a pretty decent situation at the moment. better off investing the capital that would otherwise be tied up in a house imo. granted, the property value will rise, but nowhere near the % of other investments

[Anonymous No.30126387]

>>30126244
yes exactly, but you mentioned "half of your gains". it's a nice tax-free bonus but not the 7-8 figures I had in mind. thought you may have discovered a sexy loophole or something

[Anonymous No.30126469]

>>30126387
oh yeah sorry, it's good up to a point, it depends how much you are cashing out at once, its decent if you want to cash out steadily over time to pay for things I suppose

[Anonymous No.30126471]

I made a shitload in $ amount in 2017, then lost year-on-year. Only cashed out below the CGT threshold in 2018. LMAO my trades are going to be fucking impossible to work out when it comes time to calculate this year and the ATH in a few months time too.

I'm cashing out this time though, fuck another bear market.

[Anonymous No.30126492]

Lads when do I owe tax to the IRS? I have 2 shares of GME. Let's say it moons again and I close the trade with a $300 profit. I know about the UK CGT threshold and I'm way below that but don't know if this applies to US stocks.

[Anonymous No.30126514]

>>30121017
based and knowledge pilled, stop telling the plebs before the gubment shuts it down

[Anonymous No.30126553]

>>30120176
Ireland and the UK are Subcontinental nations now.

[Anonymous No.30126624]

>>30124669
>truly if we have a brown leftist who occasionally talks about fiscal responsibility, that will pwn the libs

[Anonymous No.30126813]

>>30126492
>IRS
Fuck off back to the colonies and make your own thread you fucking nonce yank poofter.

[Anonymous No.30127053]

>>30120207
>>30120310
Oh please we've already had fucking sadick khan as the mayor of london stinking up the place, I think people won't mind having Rishi as the PM
The only problem is Rishi himself said he wouldn't want to be PM and he's better at numbers and sitting in the back figuring shit out than being at the forefront of the nation making more socioeconomic decisions than he wants to
Smart lad though

[Anonymous No.30127082]

>>30126469
true, absolutely, good to get every penny out of the bastards. good work anon. i'm in two minds as to whether to cash out in one lump sum or not if we go vertical. if we dump 80%+ like in 2018 i will kick myself for not doing it

[Anonymous No.30127239]

>>30127053
>Rishi himself said he wouldn't want to be PM
mate Boris said the same thing years ago, back when he rescinded his US citizenship (because you can't be PM of the UK with more than one citizenship)

[Anonymous No.30127243]

>>30126255
Yeah I get that, if I were to buy I'd make sure it's a modern build with good sound insulation and high enough from a street.
But there's no predicting shit neighbors I guess

[Anonymous No.30127379]

>>30127053
London is like 45% white at this point, of course they got that wretched cunt as mayor. The country, though, is in a far better state. Not for long, like, but right now it's not going to happen.

[Anonymous No.30127410]

>>30120933
That's why as a britbong I mine my crypto.
Write off the hardware as a business expense and then once done with it sell it cash-in-hand.
Mine crypto then sell half every month, counts as income tax

[Anonymous No.30127452]

reminder based Dom put Rishi in the Chancellor seat

[Anonymous No.30127514]

>>30120176
>>30120207
'ate pakis
'ate women
'ate chinks
luv norf

[Anonymous No.30127603]

>>30120207
This

[Anonymous No.30127690]

How long until Rishi is the first non-white PM?
Labour will be SEETHING if the tories beat them to that like they did with the first female PM

[Anonymous No.30127691]

BASED RISHI!

[Anonymous No.30127843]

>>30122151
Based accelerationist

[Anonymous No.30127902]

>>30127690
A decade. Boris gets his five years, he might lose against Keir after, but he'll make a mess of things and the Conservatives will put Rishi in and he'll win. Alternatively if Johnson wins in the next election he'll do another 5 and then hand the reigns over to Rishi who will win. I don't see it happening before then. In a decade the country will be probably 10% more non-white, and the age of non-whites will have shifted up by a few years, leaving the average at somewhere around the early twenties, prime voting age.

[Anonymous No.30128061]

>>30127902
Boris won't lose to Keir. Keir is 125 seats away from a majority, and if he gets that he'd still be relying on SNP votes to survive. The electorate won't stand for that.

[Anonymous No.30128264]

>>30127902
Labour will never win another election.

[Anonymous No.30128355]

>>30120176
how is bankrupting the country doing a good job?

[Anonymous No.30128410]

>>30128061
You just don't know what will happen by then. The country is destitute, we've just lived through years of Tory cuts. If the house of cards comes down while they are in power then there will be a massive, massive, massive swing to the left in this country. Every single northerner that 'lent' their vote to the Conservatives in the last election will swing back hard left and there will be a shitload more immigrants who almost always vote left.
If they can guide us through this shit with only a smaller crash, nothing too bad, no major depression, and if it doesn't happen just before the election so we have time to recover by the time people go to polls then I agree, Labour have no chance, but these are all big ifs. Johnson is sitting on top of a powder keg right now.

[Anonymous No.30128740]

>>30122557
Yes try it

[Anonymous No.30128806]

>>30125992
Are you the guy from the PRQ chat?

[Anonymous No.30128990]

>>30128410
No. Any economic crisis will be global, they can pin it on Corona, and remember Rishi is up against Dodds, who is useless. And the electorate in England and Wales won't put up with a Labour party leaning on the SNP for favours. And they need 134 new seats to get to 326, which is as many as Blair won in 1997. No-one else has won that and Keir won't be repeating that.

A decade more of Tory rule, easily.

[Anonymous No.30129089]

>>30127691
This benefits the rich... but as a crypto trader and upcoming new money it will benefit me... idk how to feel about this

[Anonymous No.30129179]

Labour won’t win whilst the scots continue to vote SNP
Labour is an absolute STATE, they need to stop sipping from the identify politics cup if they want a chance of winning the north back.
Unfortunately they won’t, as they don’t even see it as a problem

[Anonymous No.30129302]

>>30128990
>>30129179
This is deeply concerning to me as it means the Tories don't have to do anything to win my vote which means 350k immigrants a year for another decade at the least.
It's fucking disgraceful.

[Anonymous No.30129311]

>>30128806
no.

[Anonymous No.30129440]

>>30129089
Stop thinking of the rich as some evil entity which need to be attacked and start thinking of the poor as the stupid entity which keep themselves from moving up.
Trust me, anon, you'll go further that way.
I used to be a faggot, too, always hating the rich, I was practically a communist. Since I changed my line of thinking I've become much, much happier, more fiscally responsible, and generally more upwardly mobile. I'm still relatively poor to some of the fags on here but I am now richer, by far, than 100% of my friends.

[Anonymous No.30129650]

>>30126624
>leftist

you don’t know what that word means

[Anonymous No.30129651]

>>30129440
>Stop thinking of the rich as some evil entity which need to be attacked and start thinking of the poor as the stupid entity which keep themselves from moving up.

A lot of the reasons why poor struggle is because of the rich

[Anonymous No.30129830]

>>30129302
There’s no one worth voting for, at least the tories aren’t proposing bringing all the calais “refugees” over.
Would rather the tories bring in millions of chinks over Labour bringing in millions of brown people.
It’s fucked either way though

[Anonymous No.30129896]

>>30129650
In what way is he rightwing besides the token association with a party once known for its believe in royal absolutism?

[Anonymous No.30129981]

>>30129830
This
One looks down their noses at us and throws us a bone
The other laughs and shits on your toast, Unless you're an advocate for love and peace of course

[Anonymous No.30129984]

>not voting for the Reclaim party

[Anonymous No.30130008]

>>30120176
>pol will laugh at us
but u came from pol. u need to go back

[Anonymous No.30130014]

Damn anon you put all in all for btc why haven’t you tried some other alts for easy profits like $MCM

[Anonymous No.30130208]

>>30129651
>A lot of the reasons why poor struggle is because of the rich
Name them. Sounds like cope to me. The poor in this country get every advantage, especially the shitskins and 'new British'. Fuck them.
Seriously though the poor get practically unlimited gibs. Free housing, free healthcare, 0% interest student loans, tax credits for single parents, payouts if you're jobless or too ill too work.
What more do they fucking need? If you can't make something of yourself with all that it's because you're a retard.
It's not the rich keeping them down, it's themselves. They gamble, they smoke, they drink every weekend, they got shit grades at school, they dropped out of Uni, they get pregnant at 15.

If you work hard and you have half a brain you can become middle-class fairly easily. The only real issue is buying your first home is difficult because the housing market in this country is retarded.
I know that Jeff Bezos and Bill Gates are evil cunts but those people are less than 1% of the world. The top 20% are not bad people, by and large, and if you think they are it's because you're bitter because you want what they have. Simple as.

[Anonymous No.30130258]

>>30129896
Look at his voting record, he is most certainly not a leftist.

[Anonymous No.30130324]

>>30120067
>cgt
the rest of it is a shitshow though.
>expected
str8 bs

[Anonymous No.30130616]

>>30130258
In British politics, unlike American politics, politicians of a particular party can be much more easily coerced to vote with the party line lest they lose the support of the party. The centralized nature of British politics means that to even have a chance at a cabinet position you need to suck the dicks of the leadership for decades, it is much more difficult to do what Farage ended up doing and run a successful fourth-party outside of the Lib-Lab-Con traditional party stack, besides regionalist parties like the SNP and PC.

So generally speaking if he is in lockstep with the Tories, what is conservative about him?

[Anonymous No.30130691]

>>30130008
Both of you came from fucking reddit, as infinitely evidenced by your shitty grammar and inability to comprehend the backslash key.

>newfags think they don't stink of newfaggotry when they can't even correctly write the board's name

[Anonymous No.30130724]

>>30130208
>Name them. Sounds like cope to me

Landlords are a start.

I see what you mean. As ive started to make more gains my world view has been changing a bit .

[Anonymous No.30130761]

>>30120067
Brrrrr brrrrr brrrrr

[Anonymous No.30130994]

>>30130691
>backslash
>>\pol\

[Anonymous No.30131045]

>>30130724
>Landlords are a start.
Most landlords are cunts but outside of better regulations that favour the tenant there's not a lot to be done about it. They take on a lot of risk. One bad tenant can destroy a property and getting them out can be very difficult and take months. The landlord still has bills to pay during that time, and he may not even be earning from that tenant while eviction proceedings are ongoing. It's not always so easy.
I agree though I have dealt with some right twatty landlords but they're not all bad and they fairly necessary.
If we could lower housing prices (lowering immigration would help) then maybe more of us could buy our homes and landlords wouldn't be so all prevalent and powerful.

[Anonymous No.30131088]

>>30120067
>CGT frozen
Thank fucking fuck for that, it's been at the back of my head for the past couple months that they'd increase it to 40%. 20% is still daylight robbery, though.
I don't give a shit about the rest of the budget shit, it's all beyond fucked anyways.

[Anonymous No.30131158]

>>30131088
>I don't give a shit about the rest of the budget shit
These freeports have piqued my interest.
What the fuck are they? Does anybody have any information?

[Anonymous No.30131304]

>>30131158
Just a middleman for moving valuable assets between other ports tax free. It'll increase demand for jobs in these ports apparently, not sure about that after watching Season 2 of The Wire.

[Anonymous No.30131360]

>>30131158
Ports with no taxes being brought back. Only being put in shithole areas pretty much to increase jobs in the areas, etc.

[Anonymous No.30131520]

>>30131304
>>30131360
Cool. Thanks. Is this no taxes for businesses or could I load up 500 Benson and Hedges and come back through Teeside and pay fuck all?

[Anonymous No.30131535]

>>30130616
Lad what the fuck are you on about. Go back to your containment board.

[Anonymous No.30131542]

>>30125992
>>30130994
>clearly a shitposter from brit/pol/
>tells others to go back to /pol/

I should say "no u", faggot.

[Anonymous No.30131607]

>>30131535
>doesn't answer the question at all
>"g-go back"

Unironically put your eyes out, homo.

[Anonymous No.30131746]

>>30131542
actually faggot i was just pointing out that you don't know what a backslash is

[Anonymous No.30131950]

>>30131607
this board is for making money & keeping it. fuck off elsewhere to drone about politics you fucking daft peasant

[Anonymous No.30132029]

>>30131607
Haha fuck off autist

[Anonymous No.30132440]

>>30132029
i'm autistic, don't lump me in with that retard please

[Anonymous No.30132586]

>>30132029
>is /biz/poster
>calls people autistic
sit down anon, it's time we talked about why you're different to your friends

[Anonymous No.30133651]

>>30132586
>friends
What's that?