Cashing out

anybody know how to cash out large amounts in the UK without getting caught by the taxman?

Or what country to move to if i want to cash out all my gains free of charge?

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>cash out

look at this retard lmao

nobody tell him

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I can't buy real world assets with crypto tho
the house, the car, the watch i want to buy only accept fiat

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>he thinks he can go out and trade his internet funny money for thousands/millions of dollars worth of universally accepted currency

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Puerto Rico

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I think you'll find, that you can. If you use your noggin, and get to work building trusted relationships with local businesmen, and doing research on what services are already waiting to accept your Bitcoin(BCH)

>cashing out

I can, and have cashed out thousands on coinbase
Only ever lower than CGT threshold though
it is possible to cash out large amounts, but i don't want to pay tax

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Im always cashing out in small amoints 2k euro max, so it doesnt trigger banks alarms

no capital gains tax in these countries

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somebody explain my boy here the terms structuring and smurfing

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Just accept that you'll have to pay the tax and set that money aside, whatever your gains are, subtract the tax you'll be paying, always.
Avoiding taxes is too dangerous, next thing you know you lose all your gains on layers and whatnot.

There's always the option to never sell, if you never sell you never pay the tax.

Daily reminder that crypto to crypto exchange is a taxable event

Hahah, been doing this since 2017, never paid a single penny on taxes, get fucked smurf

Only on a profit. IRS won't care about you buying Uniswap shitcoins with ETH already traded at a loss.

Fuck off glownigger

can you really cash out large amounts on coinbase like $1,000,000+?

Portugal or Estonia user.
100% that Portugal has no taxes for crypto and I'm fairly sure Estonia is the same.

you'd have to be a resident right? Buying a citizenship is like $250,000, it's probably cheaper to pay the tax

fuck off mate i actually want to know how to cash out. You wouldn't be able to relate

25k USD limit per day apparently
still would get clocked by taxman if i did that

Hello my friend.

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There's a very easy way to do it if you're smart enough. I won't tell you outright, because glowies infest our lands; all I'll say is quantity is better than quality, and never break your honor as a decent human being. Safe travels, friendo.

I just read that staking is like dividends to the Hmrc. But what I don’t get is do I wait until the end of the year to declare the amount and then base that on the price of the coin that day, or I have to go day by day when I got the reward and then pay. What if I don’t convert the token to fiat, why do I need to file a tax return?

Am i being forced to sell my crypto for fiat in that regard???

You're creating a taxable event because you're exchanging a service (staking) for a good (Link). You have to keep track of every price point for each completed contract to pay taxes.

Just pay your taxes user it isn’t worth prison. If you are really that concerned you should move to a Caribbean tax haven.

I'd rather pay 250k to get a Swiss citizenship than 200k to the IRS for George Floyd's gibs