Taxation is theft. I will not pay tax on my crypto gains

[Anonymous No.57007903]

You have politicians, mega rich, tech companies, etc all utilising offshore tax free countries such as the Cayman islands. But when I make a tiny bit of profit in crypto while taking all the risks that it could go to zero. I am expected to give 30%, no 40% or even 50% of my profit but people in power can set up shell companies and avoid paying any taxes whatsoever.

Source: The Spider's Web: Britain's Second Empire
https://www.youtube.com/watch?v=np_ylvc8Zj8

[Anonymous No.57007972]

my brother had a profitable business as a one man band, probably made a few mil and over this time period all the money was just rolling into his account, he didn't end up paying taxes for 5 years and nothing happened and no one came after him, he eventually got an accountant and sorted everything out but can you literally just not pay taxes and nothing hapen?

[Anonymous No.57007979]

>>57007972
No.

[Anonymous No.57008100]

Well either play the game and pay your taxes and not look over your shoulder for the rest of your life or do what the rich do and try to dodge it.
Never just do this though >>57007972

People will tell you all sorts of things like "Only cash out 2 grand a month to not raise a flag" or something but if you think they will be tricked by basic structuring then think again.

[Anonymous No.57008312]

>>57007903
just leave it all in DeFi, then move to one of the numerous UK Tax Havens, rent there for a while, cash out, wait a few years, then return.

[Anonymous No.57008344]

>>57007972
When was that? Late 90s/early noughties?
I don't think that sort of thing would be possible in the digital banking age unless he was paid exclusively by cash in hand all those years.
HMRC have come leaps and bounds in their competence at catching low socioeconomic bracketed tax avoiders.

I'd imagine he paid some fines or fees when his accountant "sorted out" his finances, but he probably profited financially by waiting until he could afford a good accountant rather than buying a budget accountant when he was poor.

[Anonymous No.57008438]

>>57007903
Capital gains tax in the UK is quite low. Not sure where the 50% is coming from - you're not paying income tax, are you? If you're somehow pulling a large professional salary AND making it big in crypto, why the fuck would you live in the UK?

[Anonymous No.57008561]

>>57007903
Capital gains tax is 20% retard.

[Anonymous No.57008567]

>>57008344
Even if it was in cash - you would still need to pay everything else in cash. HMRC have access to lots of data, and have a good idea of your lifestyle. So they can see if that matches your taxes.

[Anonymous No.57008613]

>>57007903
>Time for your 1pbtid wikipedia flag OP demoralisation post!

>But when I make a tiny bit of profit in crypto while taking all the risks that it could go to zero. I am expected to give 30%, no 40% or even 50%
CGT is a flat 20%.

[Anonymous No.57008627]

>>57008438
hes a mong. CGT in uk is 20% flat only taxed on profit.

[Anonymous No.57008656]

>>57007903
>wot 'ave we 'ere then?!?

[Anonymous No.57008666]

>>57008561
In the US it's 40% if you take profits within one year. After that, it's 20%.

[Anonymous No.57008954]

>>57008567
Only normies pay with card/contactless when cash payment is an option. But yes, most people are being profiled by their governments based on their economic activity.
My government just sees me withdraw a block of cash every week on monday. That's all they get.

[Anonymous No.57009056]

>>57007972
I knew a guy who was a self employed builder, did quite well for himself and had a lot of work. Didn't pay any taxes for 3 or 4 years and nothing was said about it until he tried to get a loan or something and it all got flagged up.

[Anonymous No.57009085]

Euro-communism

[Anonymous No.57009089]

>>57008954
I'm PAYE, there's no point in trying to hide anything from the taxman because they know exactly how much I earn.

[Anonymous No.57009098]

I make over £1800 a month in benefits and dump the excess in crypto
one day it'll pay off

[Anonymous No.57009115]

>>57009089
>There's no point in trying to hide
Why? Just because he gets your money in doesn't mean it's not good for you to hide your money out. He doesn't have any legal right to that data, and likely it's just used to profile you further. It's only ever in your benefit to become the grey man, particularly when states are involved.

[Anonymous No.57009294]

>>57007903
You could just maximise your capital gains allowance and withdraw slowly over the coming years, but with the CGT allowance being £3k next year it might take a while, thanks Jeremy Cunt. I'd just hold it in crypto and find someone who will allow you to borrow against your portfolio.

[Anonymous No.57009558]

>>57009115
Good luck with that when you are applying for mortgages and all the banks want to know where the money is coming from. Again, I know self employed people who really fucked themselves over in the long run, Covid was good example where self employed people were paid furlough money based on what they said they earnt.
I like an easy life, I don't want to be looking over my shoulder and hiding assets.

[Anonymous No.57009622]

Taxation on investment is so fucking retarded it’s unbelievable
>take your taxed salary and incest in thing!
>if you lose you lose
>if you win you have to tax your taxed winnings by 20-40% depending on hellhole you live in
How is that fair? I’m not rich enough to set up a bunch of overseas bullshit. I might move to fucking Luxembourg if my portfolio goes from 90k to 1m this bull run though. Cause I’m sure as hell not giving the government 1/3rd of my earnings when I’m the one living as modestly as possible to put as much as I can into investing.

[Anonymous No.57009685]

My salary is £180k a year, and after tax, even with no pension contributions, I still only get around £8400/month. The kicker is that I don't get benefits and I don't use public healthcare, which is where the majority of my taxes end up according to HMRC. Yet the left still aren't happy. They still want more from us.

[Anonymous No.57009704]

>>57007972
The risk you run is that they come after you ten years later with your tax bill with compound interest at base rate + x% and potentially a fine. Not a spot you want to be in.

[Anonymous No.57010020]

>>57009558
You're not hiding assets, you're hiding your data. I didn't say lie to the taxman; I said don't give him a digital trail of your economic activity.

[Anonymous No.57010155]

>>57009685
>The left
Remind me again who has raised taxes to the highest recorded levels since ww2? I think the party in question might begin with a C. Or a T. I believe they have held power for quite a while now. Coming on 14 years I think. Who was that again?

[Anonymous No.57010247]

>>57010155
The so-called conservative party are the left. As you've said yourself, they've raised taxes to the highest levels ever. By definition they're the left.

[Anonymous No.57010331]

>>57010155
>Implying the tories aren't neolib lefties
fuggin KEK

[Anonymous No.57010414]

>>57007972
my godmother has been running a small completely illegal business for 20+yrs, she is officially unemployed and collects neetbucks, no accounting no taxes no records of the bussiness. She is the richest person in my family. Most of the time authorities give 0 fucks, it's usually just poorfags stressing about not taxing their 5k crypto profit because they legit believe it's a serious amount since it takes them a year or 2 to save up from their shit salaries. It's really pathetic when I see low tier wagies making some peanuts on the side and stressing about taxing it. I wouldn't be able to sleep well after not taxing 7 figs tho.

[Anonymous No.57011303]

>>57008627
>>57008561
let me pay 20% CGT while certain groups of people pay 0 tax and it was a figure of speech

[Anonymous No.57011369]

>>57008100
>People will tell you all sorts of things like "Only cash out 2 grand a month to not raise a flag" or something
this works
t. i did it for 2 years during covid

[Anonymous No.57012203]

>>57009558
why would anyone with enough money to do tax avoidance get a mortgage lol

[Anonymous No.57012299]

Just use p2p fucking faggot seriously why is every crypto boi a little faggot

[Anonymous No.57012678]

I make a couple of thousand pounds a month selling on Ebay and Amazon and I have paid not one penny in tax.

[Anonymous No.57012750]

>>57012678
Your govt's tax agency has a direct feed into these companies full transaction history. Make no mistake they have it and as to what they do with it is largely up to your countries policies.