How is Cryptocurrency taxed in the UK? – Tax on Bitcoin UK



Have you made money on Bitcoin and are wondering what your UK tax liability is? Or do you think the government can’t tax …


28 Comments

  1. I love the grounded reality of this channel.. TA is all well and good but I find it truly baffling that all major crypto youtubers just look at pure TA and completely ignore the bigger narrative of why BTC is pumping and why the future outlook might not be as rosy as it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major dump at the peaks of BTC. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market.This is the worst possible time in history to invest as so many don't back up their crypto assets.More emphasis should be put into day tradiing as it is less affected by the unpredictable nature of the market.I have made over 4.8btc 4rm day tradng with Victoria Olga, insights and signals in less than 4weeks, this is one of the best medium to backup your assets incase it goes bearish…

  2. Hi mate great video and helps big time much appreciated. Just a quick question the gains you make come back in dollars do you work out into GBP then that’s your profits? Obviously not profits in dollars

  3. The Bank of England are interested in it. Will this mean that crypto will be owned by the banks and less freedom? Afterall crypto is free from centralized government for now.

  4. great vid, but you didnt cover if we keep the asset and receive interest from it. Does this come under dividend tax? and the rates for dividend tax?

    For example if i have 1 bitcoin, and i am earning 8.5% annual interest paid weekly, paid in bitcoin, what do taxes would i be subjected to on the interest?

  5. If I'm holding in a wallet (metamask) and idk just for example I buy a product worth more than the tax free allowance e.g a lambo and lamborghini apcepts my crypto, would I have to pay tax?

  6. I put 30 pounds into bitcoin just to see how the system works (extreme novice) using coinbase. I am in the UK. If I withdraw 35 pounds (the max it has gone to) would that 5 quid be taxed? After finding out about the whole tax tging I just want to pull everything out until I learn more about it. And I don't have a clue on how to pay tax on crypto. If anyone could help it would be much appreciated

  7. Bitcoins are a con and should be renamed pollution coins. 100s of millions of top end data mining centers chucking out billions of tons of carbon to produce a pollution token. They are a disgrace and the person that invented a pollution making con scheme should be hunted and thrown in prison.

  8. Hi mate, great video. Quick question apologies if it’s already been asked/answered. If you sold your crypto and and transferred into your bank account in one hit, are you subject to paying further tax on that as ‘income tax’ ? Even though you’ve already paid CGT ?
    Cheers

  9. Great video Damien, definitely helped a lot! I've got one question that you may be able to help with. If a family member sends me money to buy crypto on their behalf (as too complicated for them to use a dex) and I then transfer the crypto bought to their own wallet, would this count as a taxable event/capital gain for me as it's technically a disposal but I wouldn't be seeing a gain anywhere myself and they eventually would when selling?

  10. Hi, great video. I have more of a technical crypto tax question……..
    My friend got to buy into a crypto currency before its release (ico). However when it came to pay for his allowance he didn’t have all the funds so I put in some money as well. The coins get released to him and then he sends them on to me. ( they are being released in 5 chunks). My question is , does him sending the coins to me count as a taxable event? He’s not making a gain by sending them to me but the price of the coin has gone up substantially since we purchased and obviously every time he sends them to me the price is different

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