UK Taxes

What happens if you cash out below the minimum taxable sum until you're done cashing out? Say 20,000 is the minimum that you have to pay taxes on, what if I have 200k and I cash out 15k on separate occasions, will I be able to avoid taxes that way?

I fucking hate this board

Wtf are you on about you are allowed to cash out roughly £11300 A YEAR tax free.

Agreed

Shit, ok thanks. I guess i'll let the taxman blow my asshole out

Get an accountant, and pay your 20%. Capital gains tax, now fuck off

Get an accountant because you sound like the sort of dipshit that will try and avoid tax in the dumbest possible way.

and be thankful that we don't have to itemise each trade like the mongo yanks do.

cant you just get an offshore acct and withdraw to that, or are you guys fucked like we are in america and have to pay for money regardless of where it is held/earned?

UK CGT is 20%? Might hit up my ancestry visa and cash out there.

People this fucking stupid should not have this much money.

Fucking crypto man

I'm sorry OP, this.

Pay your taxes bong a royal wedding coming up.

Pay your taxes, asshole. You need to pay for all the vibrant diversity your government is importing.

I’m assuming the call that “structuring” in bongland too.. it’s a crime

This, pay up OP, importing black bulls for your girl ain't free.

This, unironically. We're a lot better off than most countries, suck it up.

Nope. Tax avoidance is legal, tax evasion is not.

But your tax is by year not by individual sale, so it's still dumb. But what you could do is cash out 15k before the 30th of April and then another 15k on the 1st of May and it would appear in two different tax years, thus potentially netting you 30k in a couple of days but not paying higher tax rates.

this has to be bait

If you could be bothered OP you could sell your BTC through localbitcoins for cash. What you do with that cash then though is the tricky bit.
Banks will want to know where this source of funds has come from if you try and deposit it.

Crypto to crypto trades are subject to tax in the UK. Many trades would also make you look like a trader, therefore you would have to register as a sole trader and pay income tax and class 4 NIC contributions. So your paying 29% tax.