[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 119 KB, 382x675, 1506585799619.jpg [View same] [iqdb] [saucenao] [google]
21138184 No.21138184 [Reply] [Original]

Anons, HMRC are looking at KYC exchanges to see if we're avoiding taxes. This isn't a problem for me right now, but if I make it in the next two years, which might happen if the cycle is repeating, I'll need to cash out.

What's the best way? DEXes and exchanges with no KYC whilst living in Portugal?

https://www.accountancyage.com/2019/08/07/hmrc-seeks-data-from-crypto-exchanges-to-combat-tax-evaders/

>> No.21138902

Seriously, how avoid taxman in UK sirs?

>> No.21139043

I might need this thread thanks to chainlink

>> No.21139874

>>21139043
I've genuinely only just found out that crypto-crypto is taxable here, which I'm sure it wasn't in 2017.

>> No.21139902

Move to the Isle of man

No capital gains

>> No.21139928

>>21138184
HMRC absolutely justed, these simps can't even decide if crypto is money or not. They can only charge you capital gains tax on fiat withdrawals from exchanges.

>> No.21140052
File: 181 KB, 960x498, 1595991259733.png [View same] [iqdb] [saucenao] [google]
21140052

>>21139874
Yeah pretty sure it wasn't either. I'll just get an accountant when I cash out and pay my taxes, don't want any stress

>> No.21140135

>>21139928
From what I've read, "disposal" is a taxable event, which includes crypto-crypto.

>Individuals need to calculate their gain or loss when they dispose of their cryptoassets to find out whether they need to pay Capital Gains Tax. A ‘disposal’ is a broad concept and includes:

>selling cryptoassets for money
exchanging cryptoassets for a different type of cryptoasset
>using cryptoassets to pay for goods or services
>giving away cryptoassets to another person

>> No.21140227

>>21139928
>exchanging cryptoassets for a different type of cryptoasset

Also does
>giving away cryptoassets to another person
mean that they can say falling for shills on /biz/ is a taxable event? fuck you all

>> No.21140250

>>21140135
Well whatever the fuck ever

>> No.21140319

if you actually make it, why would you pay taxes instead of moving to a country where crypto profits aren't taxed?

>> No.21140485

>>21140319
If they implement something similar to CREST then they'll just pick your pocket every time you make a transaction.

>> No.21140668

Also means you get hit multiple times when you exchange fiat to ETH to shitcoin and back again.

>> No.21140948

>>21140135
lol so we only get to keep like half our gains then?

>> No.21141020
File: 250 KB, 736x960, 1595903287594.png [View same] [iqdb] [saucenao] [google]
21141020

>>21138184
Read this and relax lad:

https://www.tba-associates.com/cook-islands-trust-registration/

>> No.21141153

>>21141020
looks shady? how do i know which offshore banks won't fuck me over? though UK must have access to a lot because empire.

>> No.21141874
File: 139 KB, 700x384, 1_noMXxVwy-yAhohjaryA7Ow.png [View same] [iqdb] [saucenao] [google]
21141874

Just use Dether.

>> No.21142276

what's to stop you just holding monero and then selling it anonymously?

>> No.21142512

Yeah I dunno what they're gonna do. Fucking check through all my uniswap transactions and shit? I'll cash out in 500k trades and just show them my bank acc buying the coin, and then my price at selling. Pay the 20% on that.

If I make millions from Link, I'd probably cash out 500k after tax, then just move to the isle of man / somewhere like that, maybe i'll need to live there for a year before can apply for resident I dunno the rules, then the no crypto tax will apply to me and I'll cash out the remaining millions into an isle of man bank

>> No.21142554

JUST HIT £9 BRITBIZ