Do you know of anyone who has been sent a bill from hmrc, with the correct amount of taxes to be paid, if the person forgot to file their crypto taxes. Thanks
Do you think they will calculate it? No experience of crypto issues with HMRC but know a bit about builders who didn’t report properly…HMRC just send you a tax bit for whatever amount they think it might be…including late payment penalties and fines….there is no discussion about this…you just pay it or they will chase you ….they are ruthless so just do something, they will give limited scrutiny to accuracy but if you don’t do anything they will see you as easy picking.
Confusing to the average employed person where all taxes are done automatically by the company you work for. I invest into stocks and shares and never withdraw (more long term). I want to start putting money into crypto and have no idea how or when to do the tax returns. Does it clash with my full time job taxes? Does it clash with the money i have into stocks? Still have no idea.
How about if i have a dual citizenship and i m moving my crypto between the wallets in 2 different countries? They said that " moving the cryptos between the wallets which has the same owner,that is not considered a taxable event". I m right???
Good video👍but there seems to be a tax free allowance for capital gains (crypto assets fall into this category) and it is 3000. Can you confirm that, please? Of course it keeps shrinking and for 25/26 probably it will be halved again to reach "attractive" 1500. All crypto investors will be avoiding UK at any cost if that daunting practice continues...
Thank you so much for this amazing video! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
The video content is very interesting! I am a little confused: someone sent me a TRC20 USDT and I have the recovery phrase: 『pride pole obtain together second when future mask review nature potato bulb』 How do I extract them?
Awesome video! Just a quick question: I have the OKX Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). What steps should I take to transfer them to Binance?
I really appreciate your efforts! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
You are doing a great job! Can you help me with something unrelated? I have a SafePal wallet with USDT in it and I have my recovery phrase. pride pole obtain together second when future mask review nature potato bulb. How do I transfer them to Binance?
HIS majesty...
how dare you assume gender ......lol
@davetherave4328 pls no 😂😂
😂😂
What if you only incurred losses for each of the taxable year? Do you still have to fill the tax form?
Do you know of anyone who has been sent a bill from hmrc, with the correct amount of taxes to be paid, if the person forgot to file their crypto taxes. Thanks
Do you think they will calculate it? No experience of crypto issues with HMRC but know a bit about builders who didn’t report properly…HMRC just send you a tax bit for whatever amount they think it might be…including late payment penalties and fines….there is no discussion about this…you just pay it or they will chase you ….they are ruthless so just do something, they will give limited scrutiny to accuracy but if you don’t do anything they will see you as easy picking.
Confusing to the average employed person where all taxes are done automatically by the company you work for. I invest into stocks and shares and never withdraw (more long term).
I want to start putting money into crypto and have no idea how or when to do the tax returns. Does it clash with my full time job taxes? Does it clash with the money i have into stocks? Still have no idea.
How about if i have a dual citizenship and i m moving my crypto between the wallets in 2 different countries?
They said that " moving the cryptos between the wallets which has the same owner,that is not considered a taxable event".
I m right???
tax residency is what matters
How much is the tax free amount?
3,000!
More info on UK Crypto Tax rates here: coinledger.io/blog/cryptocurrency-tax-rates-united-kingdom
Good video👍but there seems to be a tax free allowance for capital gains (crypto assets fall into this category) and it is 3000. Can you confirm that, please? Of course it keeps shrinking and for 25/26 probably it will be halved again to reach "attractive" 1500. All crypto investors will be avoiding UK at any cost if that daunting practice continues...
Yes! That is correct. More info here: coinledger.io/blog/cryptocurrency-tax-rates-united-kingdom
Nor Her Majesty, I do believe it is His majesty right now
beat me to it!
Thank you so much for this amazing video! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
The video content is very interesting! I am a little confused: someone sent me a TRC20 USDT and I have the recovery phrase: 『pride pole obtain together second when future mask review nature potato bulb』 How do I extract them?
Awesome video! Just a quick question: I have the OKX Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). What steps should I take to transfer them to Binance?
I really appreciate your efforts! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Avoid all this buy selling crypto for cash
Enjoy the 24% tax from the government
You are doing a great job! Can you help me with something unrelated? I have a SafePal wallet with USDT in it and I have my recovery phrase. pride pole obtain together second when future mask review nature potato bulb. How do I transfer them to Binance?