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6160187 No.6160187 [Reply] [Original]

Britbong thread

Have any fellow bongs cashed out enough to have to pay CGT and if so how did it go for you?

im worried that i will have to pay tax on all my shitcoin to shitcoin trades. im hoping they just tax you based on how much you bought in for originally and how much you end up cashing out to fiat

>> No.6160234

>>6160187
>im hoping they just tax you based on how much you bought in for originally and how much you end up cashing out to fiat
I'm pretty sure that's the case

>> No.6160242

you don't need to record every trade just pay tax on what you take out

>> No.6160329

>>6160242
do you know this for a fact? if so that makes my life so much easier!
say i wanted to cash out £200k im looking at 20% CGT right?

>> No.6160470

>>6160329
On UK bitcoin reddit page there are tax advisors there saying you need to pay on every trade.

I'm unsure whether they are just government shills or not

>> No.6160501

>>6160470
>reddit tax advisors

>> No.6160665

>>6160329
hire an accountant for that amount of money and a financial advisor (that isn't absolutely trash, look for the ones that take percentage of gains not flat fees) there are ways to get the tax down to less than 10%

>> No.6160799

>>6160470
They can suck my cock. They'll get my CG when I cash out and that's it.

>> No.6161019

>>6160665
ok thanks i will definitely look into that, would you say a tax lawyer as well would be beneficial?

i just read this on https://bettingbitcoin.io/cryptocurrency-uk-tax-treatments/#trading
>Best guesses regarding non-taxable highly speculative gains would mean the earlier the adoption of the coins lifecycle the better. ICO’s where anything but theory exists would be the most likely to win any HMRC dispute in my opinion.

>> No.6161093

>He thinks he doesn't have to pay tax until he cashes out
Oh boy have I got new for you
If you made gains greater than your allowance and you sold(for gbp OR crypto) then you have to pay tax on that.
See: https://cryptotax.uk/guide/
>>6160799
Remember when you had to send your id to the exchange, guess who's soon going to be required soon to send all your data to HMRC :^)

>> No.6161185

>>6161093
>Remember when you had to send your id to the exchange
jokes on you I never sent my ID to Binance :^)

>> No.6161227

>>6161185
This

>> No.6161592

>>6160242
Only in clapistan

>> No.6161856
File: 1.90 MB, 320x320, kermit suicide.gif [View same] [iqdb] [saucenao] [google]
6161856

>>6161093
this country is so shit

>> No.6161970

I've already cashed out close to $0.5mm (bought 2 flats and other shit)

Not paid a penny in tax

I thought UK didn't have any guidance on it yet? It was my understanding they treat it like they would gambling, if you do pay capital gains tax can you also claim tax deductions in your shitcoin trades?

>> No.6162205

>>6161970
jesus u mad man i hope you get away with it

>> No.6162483

>>6161856
What the hell? What if we have all our funds tied up in crypto? We have to cash out a portion of it to pay the taxman?

>> No.6162665

Okay this whole thing is bullshit.

Say I invest £100'000 into bitcoin right now, there's a dip in a few days and I get cold feet and decide to take the loss and sell, getting me back £80'000.

Can I claim that £20'000 loss as a tax deductible? I'm almost certain that the tax man would laugh and say no. Why should I pay capital gains but not be able to claim a loss?

Taxation is theft.

Anyone know where I can go retire with 3000 eth?

>> No.6162884

>>6162665
Say I go to the casino with £100'000, gamble on red a few times and end up with £500'000. Do I pay capital gains on that?

>> No.6162907

>>6162884

Gambling gains are tax free in the UK

>> No.6162944

>>6161970
in how many seperate transactions did you do this/over how long?
scared that when i cash out the taxman will come sniffing

>> No.6162945

>>6161970
me too, fuck em I say.

>> No.6163004

Tbh if I make it big I'm just gonna move to an eastern europe country fuck the UK state I don't owe them anything

>> No.6163026

>>6161093
Good luck. I trade crypto to crypto on shapeshift almost exclusively.

>> No.6163040

>>6161970
> no guidance yet
bruh
https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies

>> No.6163043

>>6162907
That's what I thought. There's nothing in this thread besides
>>6161093
https://cryptotax.uk/guide/
>This guide is not legal advice; for that, please consult a tax adviser.
Indicating the legitimate stance on cryptocurrency in the UK, my dad works for the inland revenue, he's asked around a lot and everybody (including people pretty high up) has said it's currently treated as gambling.

>>6162944
I first bought in 2012, I've only really sold since July last year (when btc was ~£2'000), i've cashed out around 150 btc in total now

>> No.6163129

>>6163040
>As an EU tax, the VAT treatment for cryptocurrencies adopted by the UK must be consistent with any treatment that may eventually be implemented across the EU.
Good 1

>Whether any profit or gain is chargeable or any loss is allowable will be looked at on a case-by-case basis taking into account the specific facts. Each case will be considered on the basis of its own individual facts and circumstances.
Meh

>> No.6163140

The discord pump group that is unstoppable.!

https://discord dot gg/JWWn6Qr

>> No.6163172

>>6163043
Thanks I’m sitting on £750k right now and this gives me hope. My main concern with this though is that down the line we don’t know if they will be chasing up people who cashed out large sums

>> No.6163223

>tfw crypto will never catch on in uk
>Lil niglets still think bitcoin is a physical coin

https://youtu.be/XHsKZNSbhks?t=3m43s

>> No.6163272

>>6163172
True, going to be honest here I'm pretty sick of this country/continent for a variety of reasons. I plan on leaving within a year or two and heading to Asia/Oceania

>> No.6163280

>>6163223
Global currency. Let the ignorant be ignorant.

>> No.6163389

>>6163272
Yeah I’m pretty sure you feel the same as me luckily I’m in the countryside...
if I can get away with 10% I’ll pay it just for price of mind

>> No.6163574

I trade on eToro so no taxes for me niggas

>> No.6163575

>>6160470
Only in America, in uk it's just 18% of your profit.

>> No.6163853

>>6163172

hello chap, have you got any coin recommendations at the moment?

>> No.6163941

>>6163043
>my dad works for the inland revenue, he's asked around a lot and everybody (including people pretty high up) has said it's currently treated as gambling
Really? See that's what I used to think, until more and more people started saying it's subject to CGT, and also because they do kind of say it is on the gov.uk site (although the language is very cloudy)

>As with any other activity, whether the treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies will be subject to CT, IT or CGT depends on the activities and the parties involved.

But even then, I'm all in on LINK which I bought under $1, which I would class as "highly speculative" trading. In which case I would hope it would not be taxable, as expressed on the same gov.uk page:

>herefore, depending on the facts, a transaction may be so highly speculative that it is not taxable or any losses relievable..

>> No.6164047

UK is tax free up to £11.3k then you get taxed on the withdrawn amount not per trade like the American system.

>> No.6164088

>>6163941
i made 6 figures from buying pajeetcoin XBY for fractions of a cent, if that's isn't gambling i don't know what is

>> No.6164114
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6164114

>> No.6164145

>>6164088
Yes all this is th essence of gambling so should be tax free in the UK.

>> No.6164176

>>6163941
>>6164088
Same I bought xvg at 5 sats and sold at the start of the year made £150k profit it doesn’t get more speculative than that

>> No.6164335

Best exchange to cash out at?
Coinbase is being a bitch verifying my bank account.

>> No.6164347

>>6164176
And did you cash out?

>> No.6164402

>>6164335
why do you use that piece of shit? I use localbitcoins

>> No.6164403

>>6163941
Yeah, honest.

His job is (level 6 I think?) working with business tax avoidance (company cars being used privately and a bunch of other cheeky shit business sometimes do to try avoid paying tax), so I wouldn't expect him to know exactly the cryptocurrency stance. But he has asked around, including some senior figures and they've all said they either don't know or that it's treated the same as gambling. The main argument being that in order to be charged CGT it must also qualify as tax deductible, and nobody would offer a tax exemption unless it was some legitimate vehicle (like the new futures contracts or something).

Crypto-currency business' or Hedge Funds on the other hand are most likely a whole other story

>> No.6164452

>>6164347
No I moved it into coss eng zcl icx and link wether they all or some of them are equally speculative is another question

>> No.6164583
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6164583

>>6160187
I put my 120k worth of ETH through etheroll on the 1-99% payout and did 1k at a time, completely avoids tax as it's gambled and I actually made a few thousand on top of it.
Bought a jetski, new car and deposit on a house. Not a word from her majestys young men

>> No.6164592

>>6164402
because i drunkenly brought £100 worth of ETH back in feb after reading biz and didn't even consider that i might have trouble cashing out.

>> No.6164650

>>6164335

This, I'm intending to take out my initial investment + up to limit of CGT before the end of the tax year, comes to about 27k. What's the best route to get money out *safely*

>> No.6164797

>>6160187
>German tax thread
"AAAA help they will find us"

>Brit tax thread
"suck it, take it or leave it"

>> No.6164931
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6164931

>>6164797

>> No.6165001
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6165001

>>6164797
>>6164931

>> No.6165085
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6165085

>>6164797

>> No.6165145

Are there any coins being developed here in Blighty?

>> No.6165237

>>6165145
DOVU my man

It's basically LandRover/Jaguar (my mate works with the project)

>> No.6165299
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6165299

>>6165145
I'm making my own coin mate, poured 200+ hours into development so far and have outsourced website development to some yank professionals so it looks class. It's gonna make me millions if the market stays this way.

>> No.6165401
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6165401

>>6165299
wts it called thn

>> No.6165406

>>6165237

>Land Rover/Jaguar
owned by the indian company TATAR Motors, basically pajeet coin

>> No.6165465

>>6165401
:^)

no doubt you'll see it shilled here in the months to come

>> No.6165476

>>6165299
is it a shitcoin?

>> No.6165493
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6165493

>>6165237
Cheers, I will keep an eye out for it. Apparently Electroneum is UK based.
>>6165299
Good luck anon.

>> No.6165517

>>6160187
This might help you.

> I had consultations with 3 separate tax specialist accountants and ALL of them said I should only report gains when they go back into the 'functional currency' and that because this was still a legal grey area with limited guidance from HMRC

https://www.reddit.com/r/BitcoinUK/comments/7oiu5q/tax_advisorsaccountants_telling_me_i_dont_have_to/

I sure hope so because I've made tens if not hundreds of thousands of trades.

>> No.6165542

>>6165406
You mean Tata?

And they also own Tetley, does that mean tea is a pajeet drink?

>> No.6165565

>>6165476
it targets the shitcoin market but has a very well refined UI and some features that i haven't seen in any existing coin

>> No.6165586

>>6165542
Well it is grown there lol

>> No.6165754
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6165754

>>6165586
so that's why it's brown

>> No.6165903

>>6164583
This is fucking genius, never heard of etheroll before, surely everyone using it are doing it for tax 'avoidance' purposes?

>> No.6166343

>>6164583
Would the casino not have to have some kind of license to be recognised by the government as such?

>> No.6166425

>>6164583
Also if you cashed out this tax year they haven't came knocking because your return isn't due yet and it's technically not late reporting.

>> No.6166541
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6166541

>>6165903
https://etheroll.com/
check it out and you'll see exactly why its the perfect choice. Me and a group of mates have been using it since it came out as we had to pay 20% cgt on over 300k combined

>> No.6166610

>>6166541
>as we had to pay 20% cgt
Do you know this for sure or were you just taking the precaution? All crypto taxes are settled on a case by case basis.

>> No.6166817

>>6166610
Our friend is an accountant and we paid a financial adviser to help us aswell, came to the conclusion we'd be better doing this than just trying to avoid future tax implications. Gambling is free from tax full stop, even though its 99% payout, you could still lose..

>> No.6167217
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6167217

>>6166817
>tfw lower than 99
>100

>> No.6167240

>>6166817
If you put in 1 eth, how much of it do you actually have to gamble? Because I lose 99% of the time gambling.

>> No.6167255
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6167255

>>6166817
So basically the risk of losing is very small and even the max potential losses are quite minimal? Do I set it up how I have it in pic related? It seems 0.01ETH is a lot to win on a punt which is 98% in my favour. Is there a way to track all your bets so you can have a log saved?

>> No.6167375

Who day trades? I’m trying to make around 10-15% profit and then re-invest

>> No.6167390

>>6167255
top right corner

>> No.6167540

>>61601877
i would like to thank you for saving us during ww2 now france is free from white male

>> No.6168060

>>6166541
Does this work? What about when cashing out the profits? So long as the ETH cashed out can be traced back to the etheroll smart contract, you can legally avoid CGT?

>> No.6168157

>>6168060
It would seem that way... pretty fucking genius desu.

>> No.6168187

>>6168157
big if true

>> No.6168274

>>6168157
It sounds a bit too good to be true, but saying that crypto existing is too fucking good to be true so maybe it is. This is something I'm definitely going to look into

>> No.6168386

>>6168274
Doing about 1 ETH at a time seems reasonable to me. Say you have 100ETH, it would be tempting to just take a big risk, save time and stake the whole thing on one bet. But of course if you lost you'd be on suicide watch.

>> No.6168451
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6168451

>>6168386
i don't even want to think about that

>> No.6168552

>>6168386
1 ETH at a time is more than enough, unless you're trying to buy a yacht or something

>> No.6168666

>>6168451
Thinking on, you could just do this weekly/monthly with a few eth at a time, and cash out no more than £9,999 at once

>> No.6168755

>>6168552
True. I think I might do this when I start cashing out, just to give myself an extra layer of protection against the taxman

>> No.6168771

>>6168666
why no more than £9,999? seems arbitrary, HMRC surely will notice all these deposits to your bank

>> No.6168824

>>6167240
You gamble as much as you want, there's a 99% chance you'll get your eth back and a little extra aswell.

>> No.6168825

>>6168771
Just because more than that automatically triggers an investigation afaik.

>> No.6168921
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6168921

>>6160470
tax advisors just like 4chan shills want to figuratively make it so that you buy their bags. in this case they make it sound more complicated than it actually is so you need to use their services.

>> No.6168927

>>6168060
>>6168274
Nah it actually works we checked it over with an accountant who contacted the HMRC directly. As long as you keep proof that the Eth you're cashing out came directly from a gamble.

>> No.6168935

>>6168771
HMRC don't know shit unless your bank reports sus activity. Keep your deposits reasonably low, label them as 'gambling payout' or some shit to minimise the chances of that happening.

Tip: HSBC is a crook bank and it's favoured by money launderers, reports few things to HMRC.

>> No.6168981

>>6168825
I did a quick google search and the first result was for Americans, I don't know whether or not this applies to us britfags but here
>All you have to do to capture the IRS' attention is make multiple large deposits that are less than $10,000 in your account. Banks that get deposits of more than $10,000 have to report those deposits to the federal government.
Maybe it's best to cash out less than £1000 at a time

>> No.6168999

>>6168927
Fucking beautiful. So you just keep a log of the transactions on etherscan? Do they not care about how you attained the Ether you had to bet in the first place?

>> No.6169024

>>6168935
This, we directly changed to HSBC on our accountants advise, she STRONGLY suggested we go with HSBC for this actual reason lol.

>> No.6169053

>>6169024
*quietly opens HSBC account*

>> No.6169054

>>6168927
Cheers mate, I'll believe you for now but I'll have to check for myself. Honestly if this is legit I will love you forever

>> No.6169081

>>6168999
Not a flying fuck mate, you could be selling drugs on the darknet it doesn't matter. They just want to tax you, this avoids that. It's such early days I don't see this changing much in the foreseeable future

>> No.6169129

>>6169024
It's fucking fantastic, one of the reasons it didn't get raped by the financial crisis, although they've tightened up recently since a lot of this came to light and they were fined.

Thank you so much for bringing this etheroll to my attention, will be using it soon.

>> No.6169153

>>6169081
Thanks for this info anon I really appreciate it. Any other tips besides Etheroll and opening an HSBC account?

>> No.6169173

>>6169054
don't take my word on an asian basket weaving forum. talk to an accountant, preferably one with crypto knowledge, and explain the process and go from there.

>> No.6169238

>>6169173
I will do. Cheers again anon

>> No.6169250

>>6169153
To be honest thats it mate, just remember to copy down ALL of your transactions. Remember they want to catch you out.

>> No.6169258

>>6169081
I think the chancellor said they may clarify things in the next budget, during this bullshit half year budget a few months ago, can't find any links so maybe I dreamed that up.

>> No.6169295

I work in tax and the genuine answer is:

NOBODY KNOWS how crypto is treated for tax purposes.

The only thing we have is some shitty Public Notice HMRC issued in 2014 when BTC wasn't even on the normies' radar yet.

HMRC is slow, obsolete as fuck and employs sacks of human shit that would otherwise be in the dole queue.

Dont expect fast movements. Paying money to a tax advisor is throwing down the drain because they are just telling you what they think the correct tax treatment should be, when this is an entirely new paradigm.

Some NEET fuck will end up in court for tax evasion at some point and then our case law will be built up.

>> No.6169299

>>6169250
Do you need to put gambling gains on a tax return?

>> No.6169354

>>6169299
Why would you if its not taxable?

>> No.6169471

>>6169299
Nope that's the beauty of it. If i put £1000 on Virgin games slots and win £10000 I wouldn't have to do shit would I, same applies.

>>6169295
This is very true, we just did it to stop any paranoia in the future.

>> No.6169516

>>6169299
If there is something you don't want to be taxed on, don't put in your tax returns. They are greedy fucks, regardless of your location.

>> No.6169552

>>6169295
This.

The UK needs a Shrem/Ulbricht in order for anything to actually happen.

US has already gone through this and that's why American customers are being rekt (see Bitfinex for example).

>> No.6169609

>>6169354
Okay so what happens when i cash out £100,000 and don't declare anything? I get audited surely, but then i'm in the clear since the last transactions were from ethroll?

>> No.6169615

>>6169471
Say they investigate you and you show them all your etherroll transactions... would they not then look at where the funds were sent from and trace it back to the exchange where you made all your gains and ETH trades? And want to go through them all to try and tax you on them?

>> No.6169669

What's the best place to withdraw small amounts of crypto to bank in UK (£1000+)?

>> No.6169721

>>6169609
That seems to be the case anon is making. I guess it's a technical loophole. But then there's this >>6169615 however anon seems to think they wouldnt investigate further.

>> No.6169749

>>6169471
>Nope that's the beauty of it. If i put £1000 on Virgin games slots and win £10000 I wouldn't have to do shit would I, same applies.
but does the gambling site allow withdrawal to FIAT into your bank from their site? how does the withdrawal work exactly

>> No.6169762

>>6164583
You actual legend - thanks for sharing this loophole

>> No.6169767

>>6169516
I guess what I'm trying to say is, if you say you sold a roll of toilet paper for 1€ they will tax it. At least here in Scandinavia. They would even tax on a 1 cent sale. Fucking ridiculous.
There have even been cases where kids (4-6 years old), have been sent bills for not paying taxes. WTF?!

>> No.6169793

>>6169669
Localbitcoins

>> No.6169805

>>6169669
i use coincut, no verification needed, you just send bitcoin and give them your bank account details

>> No.6169903

>>6169615
They will only do CGT on what comes out the other end in FIAT (assuming who didn't do this gambling thing). the crypto trades aren't taxed, not yet anyway.

>> No.6169990

>>6169805
Just had a look, seems like they are taking about %5-%10 cut on buying and selling :/

>> No.6170013

>>6161970
youre fucked when thetaxman comes

>> No.6170054

Hey guys,

This is literally all there is in relation to crypto gains in all of the body of UK case law, statute law and guidance available:

"Chargeable gains: CT and CGT - if a profit or loss on a currency contract is not within trading profits or otherwise within the loan relationship rules, it would normally be taxable as a chargeable gain or allowable as a loss for CT or CGT purposes. Gains and losses incurred on Bitcoin or other cryptocurrencies are chargeable or allowable for CGT if they accrue to an individual or, for CT on chargeable gains if they accrue to a company."

1 fucking paragraph from a Public Notice issued 4 years ago.

Even if you cashed out and your bank filled out a SAR, just say it is fucking crypto gains and then if HMRC opens an enquiry into you at least they can tell you what to fucking do so we know.

Guaranteed no penalties involved since HMRC hasn't got a clue about cryptos in the first place.

Pro-tip: if you do make it, just leave the country, live abroad for a year and cash out in a tax haven. Fuck this shithole.

>> No.6170076
File: 188 KB, 1000x2040, So you want to trade Crypto as a Britcuck.png [View same] [iqdb] [saucenao] [google]
6170076

>>6169990
if you are interested in the lowest possible fees, get a verified kraken and account and then follow the guide in pic related

>> No.6170079

>>6169903
I don't want to piss on anyones chips, but I worry about the following:
>lots of gains made April 2017-2018
>tax due before December 2019
Any clarification of the rules between now and then might cause us some problems...

>> No.6170159
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6170159

>>6164583
>Jetski
what a fucking faggot

>> No.6170219

>>6170076
Thanks anon

>> No.6170367

>>6165517
Calm down m8. For an easy life just pay cgt above your allowance. They have no fucking idea how to deal with it.

>> No.6170389

>>6160187
As far as I can tell, you only pay CGT on cashed out money. So long as it's in crypto it's safe in the UK.

You also have the £11,300 barrier, if you don't cash out more than that per year you don't pay it. Also, if you use Local Bitcoins how they fuck would they know you have that money.

Just don't be stupid, and you'll escape CGT. Whats the harm in HODLing most of your money in BTC? Sure if you want to buy a house pay CGT, But if you just want it to masturbate over it then HODL and take out a little bit every year.

>> No.6170394

>Paying tax
Nah

Several things you can do to avoid it but I'm not gonna list them because DYOR

Also,
>Cashing out yet

>> No.6170426

>>6170076
Thank you Anon

>> No.6170628

>>6170159
Bitches love jetskis

>> No.6170744

>>6170076
problem is revolut has a 25k limit before needing lots more info

>> No.6170770

>>6170628
Who gives a fuck what bitches love
Only a complete faggot does, thats who

>> No.6170816

>>6170389
concern of course is the cryptomarket collapsing in the mid-term before an inevitable recovery, by which time proper tax will be applied to it.

>> No.6170850

>>6170394
A good cashing out plan is the key to the lambo

>> No.6170887

Just been speaking to a friend who works in finance and he reckons they would just get you for tax evasion if you put it through etheroll.

But its such a wild west out there that who knows

>> No.6170946

>>6163272
Good luck mate, although JP is pretty hard on crypto right now.

>> No.6171006

>>6160187
>http://www.telegraph.co.uk/tax/capital-gains/do-have-pay-tax-bitcoin-profits-will-happen-dont/

>https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies
no law...

>> No.6171043

>>6170770
Angry incel detected

>> No.6171054

>>6171006
I just local bitcoin, get from random people...small ammounts...

>> No.6171057

>>6170887
Yes etheroll strategy smacks of tax evasion.

I will just take out my cap gains allowance this year before April and start paying attention to the budget to see if they make any statements on crypto. I would expect to pay 20% when cashing out my full capital though

>> No.6171107

>>6170850
Please dont tell me you're gonna buy a lambo

>>6171043
What? Lmao I've fucked two birds since the first of jan
Project more mate, only utter faggots give a fuck what women think

>> No.6171189

>>6170887
You're friend doesn't know shit. Tax avoidance and tax evasion are completely different things, evasion being illegal and avoidance being legal. This comes under avoidance, because we're finding ways to legally not pay.

>> No.6171263

>>6171107
Sure you have mate

>> No.6171309

>>6171189
While it looks a bit shady I have to agree with this guy, at the end of the day your following the law

>> No.6171321

>>6171263
I have la, just ask your sister and girlfriend

>lives his life trying to impress women
>is still a neckbeard
lol

>> No.6171363

>>6171189
This desu.

>> No.6171406

>>6171321
Whatever you say mate

>> No.6171458

>>6171309
>>6171189
>>6171057

Worst case scenario, you back pay CGT, it's not tax evasion, just avoidance.

>> No.6171652

>>6170054
Are there any stories of anybody actually getting raped by HMRC? after all these cash out threads I've yet to see one story.

I do know banks have closed people's accounts from the news(BBC) but then they say they just open an account with another crypto friendlier bank, nothing about taxes.

>> No.6171761
File: 182 KB, 200x199, 1421192350955.png [View same] [iqdb] [saucenao] [google]
6171761

Britbong newfag here..

Feel like im kinda late to the party? BTC and ETH are expensive. the good projects like NEO or ENG are expensive too.

Kinda feel like I'm too late? I only have £2000 to spend.

I thought I could escape being a fucking till worker as ASDA but nevermind.

>> No.6171812

Hahaha I read this entire thread and noticed the complete absence of those IRS fake ass motherfucker type posts. Isn't that an amazing coincidence?

I guess those fuckers magically show up for American threads. Lol

If people like that were not on pay roll we would have at least seen one of them on this thread.

>> No.6171840

hmrc can just take my 20% so i can sleep at comfily night to be honest, not gonna look a gift horse in the mouth

anyone have luck using coinfloor to withdraw direct in gbp to their bank?

>> No.6171859

>>6171761
you kidding pal?

Look around here, bitcoin alt forum and reddit for a while, then ignore everything you read and pump some shitcoins, they all go up anyway.

>> No.6171860

>>6171652
It will be January 2019 before HMRC can begin going after April2017-April2018 gains...

>> No.6171878

>>6171761
buy ETH and then go all in on LINK and hodl for at least a year

>> No.6171893

>>6171761
Go all in on a low marketcap. I would shill you some but this isn't the thread for that

>> No.6171988

Also, note that if crypto-to-crypto is taxed then it deanonymises everyone's wallets.

>> No.6172072

>>6171988
They are hoping desperately that people willingly out themselves.

>> No.6172104

>>6171761
I had about 2k in December and now I have 15k...
Not too late mate.

COB was my biggest gainer so it's probably too late for that.

>> No.6172289

>>6171893
Is 650 million too high?

All of the top 100 low market cap coins on Coin Market Cap site have mooned a dozen times already. Seems like most of em are done.

Do I need to go to shitcoin sites like Cryptopia?

>> No.6172313

>>6172104
How did you do that? Which coins

Ive hodled some of the big coins and only gone from 2k to 8k since feb 2017 but i put in that 2k over 4 months

>> No.6172341

>>6172104
Yh we have another 18 months of craziness if u ask me I went from £5k in maybto £800k now

>> No.6172356

>>6171761
It doesn't matter how expensive the coin is, it's the percentage gain that matters and you can buy fractions of the coin

>> No.6172399

>>6172289
My honest advice for you is to do what this anon said>>6171878
Just go all in on LINK, you'll likely have 6 figures this year

>> No.6172407

>>6172313
The big ones aren’t going to net you 5x+ small market cap or even better ICOS are the way to do it
Personally I’d go all in on COSS huge potential

>> No.6172420
File: 375 KB, 634x357, 1492366279881.png [View same] [iqdb] [saucenao] [google]
6172420

>>6172341
FUCKING H O W

>> No.6172541

>>6172420
Xvg to 250 then coss icx eng link and tau ICO to 800 u need to be patient

>> No.6172661
File: 26 KB, 413x274, people.jpg [View same] [iqdb] [saucenao] [google]
6172661

>>6165542
>does that mean tea is a pajeet drink?
the absolute literal state of millennials

>> No.6172847

>>6160187
If I get to the point where I'm cashing out figures serious enough to worry about tax (and I'm nearly there desu) I'll just spend 6 months+1 day of the year on holiday in the Isle of Man/Channel Islands/ROI so I don't have to pay tax in UK.

>> No.6172865

>>6160187
>Use tax free allowance to take profit
>Buy gold Brits/sobs
It's not rocket science sonny Jim

Unless you're one of those curry mongrels

>> No.6172893

>>6171761
Yeah you're late - same way I was late only getting stuck in last September. Same way guys starting Jan 2017 were late compared to others.

You're still earlier than most bud and £2k is also more than most have starting out.

>> No.6172944

Another noob question here. Bitstamp and Coinbase are taking ages to authenticate me after signing up, is there a simpler site to get signed upto?

I'm ready to go on Binance, Revolut and my Ledger Nano S but its the mid point which is proving tricky.

>> No.6173124

>>6172944
Download the lykke wallet for your phone, cash in via debit card, zero comission

>> No.6173258

I'm sorry right but if the UK wanted to be fucked in the arse and drop a few more places in the GDP rankings then it would tax cryptos. As usual with finance thangs british jews will make sure we are the #1 place to do dodgy dealings and cryptos will be the same.

>> No.6173320

>>6171652
(((BBC)))
State run propaganda machine since the 90s when ministers took over. A tragic and silent death, such is the legacy of Blair

>> No.6173564

>>6160470
They are wrong. Crypto trades are classed as currency trades by law currently and are therefore not taxable. You pay cgt only. The only thing you need is proof of investment so they know you aren’t money laundering and maybe some trade info as examples if it is a large profit but that is only to stop yourself getting investigated for criminal behaviour. It’s not taxable apart from cgt period.

>> No.6173591

>>6173124
>lykke wallet
this shit legit? the google play listing has a lot of negative reviews but idk normies are fucking dumb and probably just fucked it up

>> No.6173613

>>6173258
I see your point, but
1. The laws are different for the goys
2. It seems that they are actively trying to destroy the west

>> No.6173658

How the feck do I get LINK without a binance

>> No.6173682

>>6173124
Thank you very much.

/biz/ is an amazing place and i've not even started my journey yet.

>> No.6173709

>>6173658
It's on EtherDelta and IDEX

>> No.6173735

>>6173591
It's legit. When it first came out it was buggy, but the support team were very good and always got your shit sorted. Nowadays it isn't buggy anymore (my experience) and works fine

>> No.6173848

>>6173682
No probs, and yeah there is a lot of good info on /biz/ but you have to wade through 6 feet of shit to find it