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16119848 No.16119848 [Reply] [Original] [archived.moe]

If I cash out £30,000 worth of Bitcoin what do I have to do with regards to taxes? I understand I'd have to pay capital gains but at what rate? I'm guessing Bitcoin falls under "other assets" which means a capital gains tax of 10%, possibly 20%. Also, there's a tax free limit of £12,000, will that apply here? Should I just write to HMRC and ask how much I have to pay?

>> No.16119860

>Demonizing babies
:(

>> No.16119883

>>16119860
He's a mixed race american monstrosity and he could be kang of england someday. Britfags are the most cucked people on earth.

>> No.16119993

>>16119860
babies are demons, ask any parent

>> No.16120114

>>16119848
bump

>> No.16120133

>>16119848
You get about £11500 tax free, then tax is applied to the remaining amount, so £19500 at a rate of around 20% so you are probably looking at something like £3900 in taxes but ideally you want to go see an accountant and they willl sort it out for you properly for about 400 quid.

>> No.16120231

>>16119883
>royal baby bred and born in UK
>American
?

>> No.16120245

>>16120231
His mother is american, he is an amerimutt

>> No.16120311

>>16120245
>the royal family is American
ok

>> No.16120356

>>16120245
Oh no he won't be an inbred

>> No.16120367
File: 55 KB, 258x360, 1473162359505.jpg [View same] [iqdb] [saucenao] [google] [report]
16120367

>>16120245
Dios mio! AHAHAHHAHAHAHAHHAHAHAHAHAHH

>> No.16120404

>>16120311
Meghan Markle is American you brainlet

>> No.16120405

>>16119848
Write a letter to HMRC telling them you bought taking a gamble on BTC. As gambling winnings are tax free, let them know you don't anything on that £30k and if they disagree, where they can write to you at. If they don't write, you're home free. If they do write, give it to an accountant.

>> No.16120436
File: 44 KB, 643x482, Americans.jpg [View same] [iqdb] [saucenao] [google] [report]
16120436

>>16120404
>the Duchess of Sussex
>American

>> No.16120447

>>16120436
cope

>> No.16120484
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16120484

>>16119860
Women and faggots are not welcome here

>> No.16120504

>>16120447
cope is blaming all your problems and everything you don't like on America

>> No.16120520

>>16120436
>britbong cope
sorry chap, two lines from now your ol queen will be a mutt name shaniqua

>> No.16120538

>>16120133
checked. are you britbongs paying tax on crypto to crypto trades?

>> No.16120637

>>16120484
They are co-dependent creatures. They can't help themselves, they need us.

>> No.16120662
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16120662

>> No.16121415

>>16120133
Thanks fren.
>>16120405
Good idea. I've been thinking about claiming them as gambling winnings, cause I know its a pretty grey area still. No harm in writing to them first and seeing how they reply,

>> No.16121433

>>16120504
Mutt abominations are certainly to blame on America.

>> No.16121466

>>16119848
you have to be joking m8 there are plenty ways around this. But if you really want to pay your crypto-cat-internet-meme-money tax like a good goy then go right ahead

>> No.16121482
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16121482

>>16119848
Just cash out 11k now and a further 11k in April, and get a family member to cash the rest in and give you the money in bank notes. Zero cuck tax paid.

You're welcome

>> No.16121500

>>16121433
Nevermind how the Spanish race mixed an entire continent 200+ years ago, how Euro zionist commies subverted the world's institutions, how America stood alone defending traditional values for years as the rest of the developed world cheered on globohomo... Everything is America's fault

>> No.16121510

>>16121500
No, not everything, but among other things mutts like in the OP are.

>> No.16121524

>>16121466
Plenty of ways like what? Apart from trying to claim them as gambling winnings?

>> No.16121531

>>16121482
Does the tax free limit still apply on capital gains even if I'm applying it on my income tax too?

>> No.16121539

>>16119848
How much of that £30k is profit? The amount you pay depends on how much profit you made.

>> No.16121540
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16121540

>>16121524
i don't help idiots cus I'm a faggot

>> No.16121545

>>16121510
It's tragic how she forced the Prince to marry her against his will to keep England's royal blood blue from inbreeding and defend the faith

>> No.16121548

>>16119848
A visual representation on how autist see the world

>> No.16121551
File: 32 KB, 645x729, 1518317114963.png [View same] [iqdb] [saucenao] [google] [report]
16121551

>>16121545
>not marrying brown mutts causes inbreeding
Amazing how nonwhites cope with reality.

>> No.16121567

>>16121551
Neck yourself /pol/tard. How about you study genetics instead of regurgitating pseudoscience

>> No.16121573
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16121573

>>16121567
>Neck yourself /pol/tard
Pic related
>regurgitating pseudoscience
That's what you are doing when you claim not racemixing causes inbreeding. It's not even pseudoscience, it's bottom of the barrel twitter talking points. Sad.

>> No.16121589

>>16119848
>>16121415
>>16121524
>>16121531
Go to an accountant. If someone you know uses one ask them to put you in contact.

>> No.16121598
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16121598

>>16121551
>I'm wrong but if I move the goalposts to defend my obsessive hatred of America by calling him brown, I win and look like the better person
Prince Harry is the ideal /pol/lock t b h
>be an edgy nazi when youre young
>marry a brown woman or an asian with a white fetish
The one nazi I know irl is aryan - blonde with green eyes - and she has 3 half Puerto Rican babies lol

>> No.16121610

>>16121573
I never stated that notion, how about you refute the notion instead of brainlet posting

>> No.16121611

>>16121598
Seethe

>> No.16121625
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16121625

>>16121610
>NOOOOOOOO I didn't say that btw how about you refute what I didn't say so I won't look dumb for failing to come up with an argument twice in a row

>> No.16121630
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16121630

>>16121611
>cant argue for shit
>s-s-SEETHE
just lol. pic related

>> No.16121631
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16121631

>>16121625
Do you seriously think you look smart or competent?

>> No.16121641

>>16119848
It’s 20% of your gains. It’s classed as capital gains.

>> No.16121647
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16121647

>>16121631
he's too smart and edgy for plebs

>> No.16121650

>>16121630
What argument have you made? Did you think your anecdotes about fantasy aryans you know would change anything about reality? Megan Markle is a mutt, her baby is a mutt, mutts largely come from America and not racemixing doesn't lead to inbreeding.

>> No.16121656

>>16121500
>how America stood alone defending traditional values for years as the rest of the developed world cheered on globohom
>traditional values
>America
AHAHAHA You are delusional
All of modern degeneracy comes from America

>> No.16121681

>>16121531
Income tax is different to capital gains.

>> No.16121687

>>16120538
Nope, only cashed out gains.

>> No.16121693

https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals

>> No.16121703

>>16121650
You're trying to blame America because literal aryan royalty voluntarily married and bred her instead of his cousin like the English royal family usually does.
>>16121656
>10 years ago
lol Americans are so dumb with their guns and Christian values why dont they just embrace gays, casual sex, and socialism like us?
>now
THIS IS ALL AMERICAS FAULT BUT IF I SAY LE MUTT IT HELPS ME COPE
Sweden and the Weimar Republic were light years ahead of us, but what do you care? You're a shameless revisionist and probably a D&C zog shill

>> No.16121711

>>16119860
> babyizing mutts

>> No.16121715

>>16121650
Youre the one who hasn't posted an argument you nigger

>> No.16121733

>>16121703
I'm not blaming America for the decisions of one person like Prince Harry but calling it the country which produces mutts like his wife.

>> No.16121752
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16121752

>>16121733
>only pics on point to reply too.
>just shit posts mutts again

>> No.16121759

>>16121500
Amerimutts, are the world's evangelists of globohomo and cuckoldry. Hollywood, degenerate music, along with ngo metastases in every country. Doing shlomos dirty work for a new blacked video.

>> No.16121768

>>16121693
>HMRC would expect that buying and selling of cryptoassets by an individual will normally amount to investment activity (rather than a trade of dealing in cryptoassets). In such cases, if an individual invests in cryptoassets they will typically have to pay Capital Gains Tax on any gains they realise.

>Cryptoassets are digital and therefore intangible, but count as a ‘chargeable asset’ for Capital Gains Tax

I guess trying to claim them as gambling winnings wouldnt work out then. Oh well.

>> No.16121774

>>16120538
Yes britbongs must pay tax on crypto to crypto transactions and also when purchasing something with cryptocurency.

>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 exchanging cryptoassets for a different type of cryptoasset.

https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals

>>16121687
Wrong.
>>16121693
Read your own link brainlet

>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 exchanging cryptoassets for a different type of cryptoasset.

>> No.16121778

>>16121759
Doesn't Europe consume the most amount of cuck porn brainlet?

>ignores jazz rock/other uniquely American genres

>> No.16121786

>>16121733
Don't throw stones from a former genuine ethno-state who's top baby name is Mohammed...

>> No.16121801

>>16119993
shut the fuck up demon babby

>> No.16121811

>>16121774
So if I switch £100k of BTC for £100k of ETH I pay tax? No.

A friend cashed out £500k and didn't pay trade to trade. They involved HMRC and the police. This new clause is new and so complicated to enforce, you'd have to be shifting serious amounts to be investigated.

>> No.16121817
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16121817

>>16121786
Yes it's sad, but until those Mohammeds have produced several generations of mutts themselves, America will be known as the mutt nation. You don't produce fine specimens such as this overnight.

>> No.16121826

>>16121774
Why did you post the same extract twice, brainlet?

>> No.16121850

>>16121774
did you fucking read the web page or not you fucking cunt? it clearly says nothing about taxing individual trades

>> No.16121852

>>16121811
>So if I switch £100k of BTC for £100k of ETH I pay tax?
Yes you calculate you taxes on a First In First Out basis. So if 1btc is £100k and your first bought bitcoin was bought for £10k and now you trade that 1btc for 1eth then you owe taxes on £90k of capital gains.

>>16121826
I was replying with the same quote to two separate people.

>> No.16121864

>>16121850
Yes it does. It says you owe capital gains tax when disposing of one crypto for another crypto.

I'm done trying to spoon feed brainlets in this thread. Hopefully the queen throws all you tax dodgers in prison. Good day!

>> No.16121871

>>16121852
What if the ETH then drops and your assets go back to £10k, or you exchange to fiat?

>> No.16121872
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16121872

>>16119848
she has nigger ancestry?
or a bbc while he watched?

>> No.16122530
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16122530

>>16121768
Stop being such a fucking cuck and stop caring what big daddy gubmint tells you to do. There's no way they can enforce this shit so unless you're cashing out large amounts at once (more than 10k)into your bank account I doubt it would even get flagged up

If you seriously consider paying tax on a crypto to crypto trade then you are never going to make it. The whole point of crypto is that you have an alternative to being cucked by the current kike fiat taxation ponzi scheme.

>> No.16122573

>>16119883
>>16120245
>>16120436
As a burger, I'm glad that England has finally admitted the superiority of Americans by integrating them with their royal blood.

What a proud day for England to create American royalty. Maybe now their royal blood will finally be worth something; Americans monetizing their completely uninteresting royal drama.

>> No.16122577

>>16122530
Read the OP. I plan on cashing out £30k. Even if i did it in 3 installments it still looks dodgy, and id rather pay a few k in tax and be safe than sorry. Crypto WILL be fully regulated at some point dude. It might be a somewhat grey area now but its pretty clear they consider crypto profits eligible for CGT

>> No.16122626

>>16122577
Crypto is DESIGNED to be unregulated you cuck. It was made so people with a backbone could give the finger to the tax authorities.

That's why privacy coins are a thing.

But you go and pay your tax you cuck. You don't deserve to make it.

>> No.16122659

>>16122626
No it's not. It's designed to be compliant with law. Your anarchist shitcoins will never survive.

>> No.16122667

>>16121778
We were at least able to banish kikes many times throughout the history. You faggots can't do that even once, you rather choose to be genocided instead. Talk about cuckoldry.

>> No.16123276

>>16122577
>t. Cuck

>> No.16123431

>>16123276
t. anarchist/communist

>> No.16123452

>>16120311
afaik the royal family are of german ancestry

>> No.16123481

>>16121703
the juden nest of america literally welcomed the marxist school of frankfurt fleeing germany before ww2 and slowly poisoned the entire western hemisphere through (((education))) in universities

>> No.16123525

>>16119883
based

>> No.16123596
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16123596

>>16121872
Shes part nigger part Jew

>> No.16123606
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16123606

>>16119848

>> No.16123622
File: 1.13 MB, 1257x1304, shazia-royal-family-britain-paki.png [View same] [iqdb] [saucenao] [google] [report]
16123622

>>16119848
>>16123606

>> No.16123625
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16123625

>> No.16123782
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16123782

>>16123596
>>16123606
>>16123622
>>16123625
absolutely assblasted

>> No.16123789

Imagine stil;l having a queen. The british are truly lost.

>> No.16123831

>>16123596
>>16123606
>>16123622
Her facial features are white, retard. She is almost entirely BLEACHED, the only thing nigger about her is the skin.

>> No.16123860

>>16119883
>could be king.
He is 7th in line to the throne and that will only grow in time. A lot of people would have to die or abdicate for him to get a shot.

>> No.16124421

Keep fighting each other, that'll solve your problems.

Lmfao the absolute state of you people.

>>
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