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24007015 No.24007015 [Reply] [Original]

Any fellow bongs here know of any good ways to reduce capital gains tax? The government is thinking of reducing the threshold you have to pay down to just £2000.

As an unemployed millennial who was struggling to find work despite being well educated even before the pandemic started I don't see why I should have to pay for shit. The public put a bunch of retards to manage the country who didn't decide to lockdown early when evidence said otherwise. The uk government has now had to rack up billions in debt to support businesses and pay a high percentage of people's wages even if they're not going into work while I'm barely getting anything. These are the same businesses that won't give me a job but will prefer to hire someone with half my iq just because they can bullshit into a web camera during a video interview a bit better. And yes, after sending hundreds to thousands of job applications to places large and small across the country I think it's fair for me to blame society as a whole. After society not giving a fuck about me why should I give a fuck back to help pay other people's wages?

Now because I was actually smart enough to put a bit of cash into crypto before this all started the government think I can be their new piggy bank and I'm now in the situation where I might have to pay more cgt if I cash out when I'm actually at the bottom of socioeconomic ladder in this country compared to people who actually have better jobs than me. Fuck that, this is a shithole society and I have no incentives to pay anything in for people I don't know or care for.

>> No.24007137

>>24007015
yeah, NEVER CASH OUT

>> No.24007172

Move to Portugal mate. Zero percent crypto tax

>> No.24007291

>>24007015
> as a pathetic faggot I don't see why I should have to pay for shit

Get to fuck out.

>> No.24007301

>>24007015
If you have a partner, you can ""give"" them some of your crypto without it counting towards you £12500 tax-free allowance. When ""they"" sell the crypto, it counts towards their allowance. In effect this makes the allowance £25k rather than £12.5k.

>> No.24007303

>>24007015
Can you move to the Isle of Mann?

>> No.24007323

wait, I can cash out a certain threshold tax free? How much?

>> No.24007341

>>24007323
£12,300 of profits a year

>> No.24007374

>>24007301
Do you know if you have to be married to them?

>> No.24007380

>>24007303
What are the taxes like there? If I recall any uk citizen can more there I think but you need to apply for a permit to work.

>> No.24007390

>>24007341
is that in addition to my income? Holy shit this changes everything.

>> No.24007412

>>24007341
although I do have to declare where the profit came from right? So they would find out about my 15k LINK :(

>> No.24007428

>>24007380
If I remember correctly there is zero CGT and inheritance taxes.

>> No.24007444

>>24007374
no he means "give" as in unofficially

>> No.24007469
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24007469

>>24007015
tl;dr faggot

cgt threshold is £12k

cash out £12k before March 31st and pay zero tax

>> No.24007490

>>24007374
just checked and it looks like you do, yes.

>> No.24007557

>>24007469
*£12,300
*Before April 6th

>> No.24007580

>>24007412
If you cash out less than 12.3k, you don't have to tell HMRC anything.

>> No.24007660

>>24007172
How long do you have to live there for before cash out?

>> No.24007765

>>24007428
My god that is based. Why doesn't everyone in the uk move there?

>> No.24007795

>>24007660

5 years

>> No.24007881

>>24007765
Most people never need to pay CGT as depressing as that is.

>> No.24007882
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24007882

join the Freedom Reserve TG

its the bongcoin

t.me/freedomreserve1

>> No.24007897

>>24007765
>Why don't 60 million people move to a small piece of rock
Jesus fuck, retard, it's for the rich to evade taxes, not for normies.

>> No.24007933
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24007933

>>24007765
It's full of northerners

>> No.24008015

>>24007172
Are portuguese women hot and how much money do you need to attract them? I'd like to put my crypto wealth to work fucking hot women if I can, I'd reinvest most of it of course but I think I've earned a little reward on the side.

>>24007897
I've seen pictures of the place and it's not exactly monacco. It looks like it's filled with pretty typical bongs like the ones you'd find in blackpool.

>> No.24008554

>>24007015
How does zero cgt sound?

Go to a OTC outfit and get a loan collateralised on your crypto. You now have munnies, the loan also gives you big tax deductibles too. While bitcoin goes up, the payments on the loan can be met by selling a smidge every now and again.

>> No.24008735

Move to Isle of Man. The tax increases are only temporary until they are confident we wont need another lockdown