TAX in th UK

To start, you can put 10k straight in the bank using Revolut and nobody will give a shit.

What do you mean?
If you're a no coiner please gtfo
While the adults talk about making real money unlike your 12% a year off of the stock market

>stupid fag

that doesn't work.
you pay tax for the fiscal year.
you don't pay tax each time you take out a little money.

Another thing you can do is sell used hard wallets with 'free crypto installed' for like 2-3k a pop.

best bobs

Quite the opposite that means a lot of glandular tissue less fat = more milk for you babies' brain development so they can grow big, strong and as smart as possible.

everyone is retarded on this board when it comes to tax..they think (((they))) will take half..well if your a fat americunt in "the land of the free" they will..if you declare say 30k for the year..your only gonna be paying 2.8k or something like that on it..then the rest is yours legally and worry free.no one likes tax..but its actually fuck all,and youll make it back in a single good trade

>maybe
kek

So would you tax out cash free, at the place you flee to for those 6 months and 1 day or?
For example say I go to Vietnam for 6.5 months, do I cash out there tax free, or can I come back to the uk and cash out tax free? Thanks user.

Also I've heard of techniques such as opening a business in Panama and getting loaned the money, something along those lines for minimal tax but don't know the validity of that method.

That's a great shout, I will look further into this, thanks user

For the record, If I was a baby I'd suck onto those titties for dear life, literally hang off of them, like I was about to fall of a cliff. Actually scratch that I wouldn't need to be a baby, I'd do it now

I don't mind it, they usually cover it with makeup for porn but girls with really big natural tits just are veiny. Nothing wrong with that.

Coinbase doesn't let me withdraw into my revolut card last time I checked a couple months ago, but this will be easier to do as crypto is more adopted

In that thread someone said a decent accountant should get the CGT down to around 10% which I find hard to believe but is something I will definitely look into

those bobs
they real?

You never know might end the year on 999,999.99 like a useless fag

Just pay the tax. I know someone who withdrew £500k the other week and had to have an interview with SOCA. They'll be all over you.

30,000 isn't worth starting a thread on.

I'm saying if I want to cash out say 500k
Then capital gains tax would be 20% of 490,000 as first 10k is tax free

>not trying to pay 98,000 in tax
I fucking had to do ridiculous trades, research, capital accumulation to make this money, just to give it away when fuckers like Sir Philip green get away tax free. Fuck the system I'm not going to be a slave to it

Officially move to Portugal, like me. Only take on in uk as consultant billing from Portugal, like me. Don’t pay tax. Stay in uk as much as you like.

I have access to a very good accountant through my father, but I just want to have more than one option in case I get fucked by the state

You need to go through GDAX.

Whats it to them?

You don't pay the tax for upto a year lol?

How long was this supposed interview conducted, after the withdrawal?

SOCA got replaced in 2013

Will brexit have an impact on your stay in UK?

It was about a week after the withdrawal. All I know is that it was some sort of organised crimes unit from the Met and they came to interview him.

I didn't try through gdax will give it ago, I usually trade through gdax to avoid fees, but the withdrawal thought was because when I was a noob CB didn't accept revolut

I don't know what it is to them, something clearly. It got flagged by the bank apparently.

Her lips and tits were made for my cock.

Also bank with HSBC they are apparently the bank least likely to report anything to HMRC. Used by a lot of people for tax avoidance purposes

If you have to pay CGT on gains then surely they would have to let you write off crypto losses too?
>sorry government I invested in bazingacoin and need to write off £500k this year
I don't see how they won't classify it as gambling in the end.

This was discussed thoroughly in the discord group. Got some really nice ideas there.

discord gg/b9uVZBm

Take a holiday to Portugal or Switzerland, withdraw in cash

Coinbase to GDAX, exchange for Euros. Send Euros to Revolut, exchange for GBP. Send GBP to bank. Something like that.

>comes back to the UK with half a million in cash
>wants to buy property
>"where did you get money from?"
>gets Inprisoned in suspicion for drug dealing

Ah this sounds great but it says invite expired

REEEEEEEEEEEEEE

Thank you sir

There are plenty of ways to wash that sum of cash. Look at the list of CGT exemptions and pick one. Classic cars would be my choice

This. Lose the least amount of profit this way

Blue boobies are the worst

Looks like a Bogdanoff silbling

Do they sell lambos on amazon?

I have an accountant, and last month's when doing my taxes I asked the question. He said it would be seen as gambling so not taxable. He also told me of a guy who made some cash trading on some sort of Forex platform and the same rules applied in that instant too. so not one penny my friend.. just to let you know Im 40+ with my own business, and I do pay a fair bit in tax and accountant is chartered .. all this tax rubbish is a fud..

OK so there was a UK user in a similar thread here a couple months back who said he took financial advise about crypto taxes, and on that financial advice decided that before cashing his ETH out he'd gamble it on etheroll. He bet 1k at a time with the outcome parameters which gave him a 98% chance of winning. Apparently if cashed out it will be counted as gambling earnings, which isn't taxable. And the user said he actually made gains on etheroll which was a nice cherry on top. Thoughts?

Crypto as a whole is seen as gambling, in the eyes of the tax man. And hence not taxable... See above..

Im looking to move out of this shithole to somewhere warm and with good crypto laws.

any of you know of contenders?

This doesn't make sense as the capital used to make the gambles has to have been taxed first. The first thing i would do is ask him well where did the money to make those gambles come from.

Sounds like the user was lying, or got extremely bad advice.

The 98% win parameter would give an incredible low winning (eg. $3). So unless they won the equivalent of their earnings, they would still have to pay tax on everything.

Only the winings are tax free, not what you bet.

That it complete nonsense, that can get people into serious trouble.

I'm guessing you are shit posting.

This girl is asian

sauce, right now!

But what was bet was in ETH, and there is a lot of speculation as to whether every trade is taxable or not. There doesn't seem to be much evidence which suggests so. In which case the bet amount might not be taxable. As far as I can tell most people who work in HMRC don't have a clue about crypto tax or just regard crypto earnings as gambling.

>that can get people into serious trouble.
Have you heard of anyone getting into serious trouble for tax evasion on crypto?

If the bet amount might not be taxable what was the point in doing the bet anyway. It is a terrible idea to gamble your eth away in the attempt to dodge tax in a way that doesnt work. 16/17 might be the last tax year to get away with dodging crypto. You're gonna make it alot harder to report your gains in later tax years when HMRC gets round to sorting this out.

It's not complete nonsense. There was actually an article on Telegraph premium a few months back called "The Tax-Free Bitcoin Loophole". Basically dependent on your past experience as an investor, how much you bought and when you bought you can reasonably claim it was speculation, which is tax-free.

telegraph.co.uk/news/2018/01/20/revealed-tax-free-bitcoin-loophole-could-cost-treasury-millions/

>the capital used to make the gambles has to have been taxed first
Where does it say emphatically this on the HMRC website? It says every case is dealt with individually, and in some instances the trading is highly speculative, in which case it's not taxable.

still no sauce faggots?
I WANT TO SEE HER NIPPLES AND SMELL HER ASSHOLE
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>what was the point in doing the bet anyway.
I guess just to give himself an extra layer of protection because he can show proof of the smart contract from etheroll which confirms his win and correlate it to the amount cashed out.
>It is a terrible idea to gamble your eth away
Not if your chance of winning is 98%. Even with bad luck you'd still lose less than you would in taxes.

mommy milky

No I'm not, got see a real accountant and ask. It will cost a few hundred quid and you will get the same answer I did..

Create a company then sign your cryptos over to it. On the back of the cryptos have the company get a loan - which is tax deductable. You then, as office of the company, give yourself a loan too. Which is ALSO tax deductable. Keep this up until they change the law

Ive cashed out almost 50k Pounds into Bank on Localbitcoin, just use the Reference as IT or Winnings or Gambling when deposited, this is the Loophole...make sure its not all in 1 chunk... You're Welcome!

This

>just use the Reference as IT or Winnings or Gambling when deposited
Thanks for the tip user. Is there anywhere more I can read about the loophole without having to pay for the Telegraph article?

Would converting to diamonds help?

safe bet is Capital Gains Tax. The bracket you pay depends on your income. If you have really low income, you pay 10%. Most people with a full time job pay 20%. Complete a CGT Self Assessment - any good accountant can help with this, it'll cost you about £500. Don't mention how much you CGT cash in is before you get an answer for how much they will charge.

Risky option is funnel it through a gambling service. You might hit problems later down the line.

Quit your job for 6 months - cash out at CGT 10%

What did you make your money on?

I had 2000 NEO but sold low like a retard now i'll never make it. Sitting with 75k link and prayin

Would still suck

>Quit your job for 6 months - cash out at CGT 10%

If this works out to be true I will owe u big time thanks bro

Her face sorta sucks. Body looks good.

UK user here. Here's my plan.
>wait til portfolio is 100k+
>only cash out 10k per year
>enough fiat currency to live off
>most of my wealth is left in FINITE crypto
>government can suck my dick

its all on the hmrc site dude

gov.uk/capital-gains-tax/rates

'Example

Your taxable income (your income minus your Personal Allowance and any Income Tax reliefs) is £20,000 and your taxable gains are £12,300. Your gains aren’t from residential property.

First, deduct the tax-free allowance from your taxable gain. For the 2017 to 2018 tax year the allowance is £11,300, which leaves £1,000 to pay tax on.

Add this to your taxable income. Because the combined amount of £21,000 is less than £33,500 (the basic rate band for the 2017 to 2018 tax year), you pay Capital Gains Tax at 10%.

This means you’ll pay £100 in Capital Gains Tax.'

This is the important bit -

'£33,500 (the basic rate band for the 2017 to 2018 tax year), you pay Capital Gains Tax at 10%.'

also i was put onto this by an accountant.

Its how i plan on cashing out.

I had fucking 100k in january and was about to do it.

now i have 25k.

and i'm not cashing out til link reaches £10.

but yeah - Make sure your income is under the 33500 basic rate band threshold (this is ANY income - property rental, wages, dividends, invoicing for self employed work) and you will pay 10% CGT on ANY amount

I earn £35k a yr so that might be a problem. But thanks I’ll definitely be looking at hiring an accountant. Anyone from the northwest know any ones that have crypto experience?

BritBro here, set up an account in the Seychelles, withdraw cash there, link AMEX card to Seychelles account for domestic use in UK, problem solved

what's the best process in order to do this? Go over there face to face?

If this is true, sweet baby Jesus

have you actually done this? and why seychelles in particular?

i wonder if it would work for dual citizenship people.

She's only for me user, if I give the sauce how will you ever read my posts who will I click bait with

What is to stop you going to another jurisdiction (country) and withdrawing whatever your tax free allowance is & return home?

When you get to your ‘holiday destination’ convert crypto on localbitcoins.com (this might take a few sales in cash,never said it was totally easy) then to jewellery, gold coins, even cash, I am sure you can think of something. You can go back home, as long as you are below your allowance you do not have to claim. Now I would say that if you brought that much cash in and got searched it would probably be confiscated until you prove its yours (difficult) or at the very least you will get searched every time you entered again.

I do know if you live in burger land, you are supposed to claim foreign income, ie when I lived in burgerland, had to tell the US IRS about English rent income. So in the land of the free be careful……

Fucking nigger you can literally google reverse image search and find the source.

It's genuinely the fucking first link that comes up.

I will not post the link because you need to learn. It's so fucking simple.

$eos at 50c
$ven at 26c
$neo at 15$
$eth at 80$
$ltc at 40$
$xvg at >0.005$
$plr 0.15$
Are my big hitters

I went over there myself, I withdrew 10k into a UK bank account to fund my trip, flying underneath HMRC's radar, went over to a private banking institution there and negotiated terms for opening an account, you won't find anything on this only but the Seychelles are very crypto friendly and don't share shit with anyone else about banking, its the new Cayman islands that no one's heard of. Couldn't recommend setting up there enough.

FUCCCCK 10% sounds juicy as hell

Any way you can advise and user to sort this out? Any sources? Don't know my head from my ass and I imagine I'd get scammed going there blindly

you can either pay a specialist in dodgy arrangements or pay the capital gainz tax

an* user

Will look into this thank you user!

And this will be ok for large funding such as 500k +?
I want to buy several properties with the money

Sure thing man! Take a look at some of these links:
offshore-specialists.com/product/seychelles-bank-account-2/
seychellesoffshore.com/offshore-bank-account.php

Should help you get started, best of luck!!
No problem bro! Best of luck!!

Ive run nearly £12m through my account with no issues so far, just make sure to be using something like an AMEX if you're making domestic purchases (in the UK) with it

thanks dude, will start doing some reading!