Errr... guys?
Brits btfo
Austin Mitchell
Other urls found in this thread:
gov.uk
twitter.com
Joseph Diaz
oh ffs.
Nathaniel Johnson
Yeah Im thinking i ain't responding to shit
Austin Long
They are overloaded at the moment so you may get away with it.
Do you owe taxes if you bought more than you sold that year?
Robert Butler
not sure how i haven't received one yet desu
Jonathan Long
>he thought he was going to get away from paying for Muhammad and Jamal to ethnically replace him
Nice try goyim
Asher Baker
I'm pretty sure you only owe tax when you turn crypto into fiat - then you only owe tax once your total crypto to cash is above £11k (or w/e it is).
Could be wrong but that's always what i've worked on
Jackson Mitchell
I got the same email , should I talk to an accountant?
Ethan Moore
yes lol
Cooper Miller
the uk is a shithole lmao
Angel Stewart
Nothing burger, it's just like everywhere else
Angel Wood
Yes, but first go on the orders tab and download a report of all your transactions in that date period to see what you're working with.
Justin Morales
This is exactly how it works assuming you havent already used some of the allowance on other investments.
However its a little ambiguous as it says “receive” of crypto assets. What the fuck is that? Simply holding crypto on there even if you dont sell it for gbp? I don’t understand.
Why is it their business to know your balance if you dont make a sale transaction?
Juan Morris
Kek that money goes straight to minority welfare lmao
Mason Powell
It's when you get paid in crypto or mine it i think
"Individuals will be liable to pay Income Tax and National Insurance contributions on cryptoassets which they receive from:
their employer as a form of non-cash payment
mining, transaction confirmation or airdrops"
More info: gov.uk
Aiden Wright
UK laws means you're taxed on Airdrop gains. Might just be covering that you're UNI profits are taxable.
Jaxon Barnes
This. Fuck our government. It's non british who hate us doing everything they can to penalize, brutalize and replace us. I'd sooner roleplay as a creeper in parliament in minecraft than contribute to them.
Ryder Peterson
Imagine ever using Coinbase
Aaron Sullivan
>coinbase
>2020
wow it's like you don't even want to make it.
xBTC user. go.
Ian Kelly
what fiat exchange can i start using in the uk instead of coinbase
the cgt allowance is 12,300 for 20/21 it was 12k for 19/20. that is for profit on disposal, not the whole amount
Camden Parker
Looks like only poor people got this email. I’ve been cashing out ~£100-300k a year for the past 3 years through coinbase and heard nothing.
You guys are too schizo, the HMRC are dumb fucks and not like the IRS. Getting away without paying tax is the easiest shit in the U.K.
Luke Fisher
nanny state
Aiden Nelson
So what does it mean if i just want to hold my Link on coonbase? HMRC will have to be notified of it?
Thats fucking bullshit. If i sell some for more than 5k its understandable.
Michael Bailey
Ohhhh waaagie!!!!!!!
Pay up!!!! Boat pakis need their gibs to pay for cheap booze and sweeties to lure preteens into their 4 star hotel rape dens!!! Coppers need their wages paid to beat up grannies who protest lockdown measures!!! THE ABSOLUTE FUCKING STATE OF THE UK.
David Gutierrez
Nah I don't think so.. Take it off of coinbase tho and into a ledger wallet or some shit.
When you cash out, total profit above 11k is taxable @ 20%. Simple as that I believe!
So if you cashed out, made £15k. you only owe capital gains tax on the £4k -
This allowances is per year, so in theory if you had lots of assests you could cash out 11k per year and pay 0 tax.. I think.
P.S Im not an accountant or a tax man
Caleb Lopez
feels good being a poorfag for once
Dominic Edwards
Lmao how’s it feel to have everything called her royal majesty. Most cucked plebs on earth, right there with flips.
Jackson Murphy
COME ON BRITBROS THE QUEEN NEEDS A NEW BEDWARMER FOR THE CORGIES, CHIP IN
Thomas Lewis
"Disposal" includes transferring / selling for a different crypto
Jordan Howard
Reckon HMRC can link an ETH wallet to a person if you transferred from coinbase to the ledger?
Jaxson Campbell
Most likely
Mason Morris
Jaxon Wright
if you check cryto assets for individuals guide on gov.uk
basically you are gonna be taxed on your crypto-crypto unless you can prove you've lost it
it will be 20% of GAINS ONLY MAX (you dumb fucks seem to think its everything you put into crypto)
You are allowed to cash out £12300 at 0% for 2020-2021 (ignore hasnt been that since 2014-15)
its 10% then up till total taxable income from job (salary - £12500) and crypto gains is £50000
then 20% on the rest above
Not the worst system if it stays like this that is or we could potentially see communist rates next year from april if they go ahead with the 40%
Adrian Lee
>He signed up for Coinbase
>He didn't anonymously send cash in the mail to buy XMR on LocalMonero
>He's never gonna make it