Cryptocurrency

[AtW]

it's all tax free

Yes, no VAT on food in jail

HTH

[Jog On]

Don't forget to pay CGT or maybe even IT...

"In a nutshell, swapping Bitcoin for Ethereum or even pound sterling will mean that gain or loss on the currency will accrue, and this could lead to a tax bill"

News for money launderers and tax evaders

It was as trade - ETH-->BTC-->EOS

I'll happily send them the figures and they can do the sums - along with all the other alt trades if they were to follow the US government (which they haven't indicated they will). That is if the gain is above the £11,300 allowance.

If you're unsure about anything there's some good info here.

[AtW]

It was as trade - ETH-->BTC-->EOS

Yes, barter - at each step you should have recorded your position in regards to CGT.

Soon there will be monthly filing requirement

HTH

[scooterscot]

In Germany it's a first in first out system (into fiat) that's the ground rule (oder Grundregeln) that's being applied, but only on trades under one year. Afterwards it's free! Free money ATW. Can you believe that?

Given how well HMRC are at collecting taxes from large corporations, I'd not worry about their capability. It'll be years before they get any act sorted out. Meanwhile, make hay while the sun shines

[scooterscot]

My goodness, LUN up 40% in no time at all.

[TheGreenBastard]

Yes, barter - at each step you should have recorded your position in regards to CGT.

Soon there will be monthly filing requirement

HTH

Nobody here wants to hear the truth about UK/DE cryto taxation law, it seems neither has any idea on the requirements of their tax jurisdictions.

In UK/DE every transaction is a taxable event, recording it is your responsibility.

There's a few in here heading towards daily colonoscopies from their cell buddies, even in the event of losses!

[AtW]

There's a few in here heading towards daily colonoscopies from their cell buddies, even in the event of losses!

I think maybe it's high time to create new subforum - "Tax evasion, fraud and money laundering AKA TulipCurrencies", to create a safe zone for those engaging in such activities and ban those who attempt to say a word against it ...

[TheGreenBastard]

Interestingly in DE any crypto that provides continuous income (interest) has a 10 year vesting period before coming "tax free"

Does that include coin drops, Ripple etc?

[Jog On]

Yes, barter - at each step you should have recorded your position in regards to CGT.

Soon there will be monthly filing requirement

HTH

Even recorded the trips to and from the NANO and the exchanges. It's all there.

[Jog On]

Interestingly in DE any crypto that provides continuous income (interest) has a 10 year vesting period before coming "tax free"

Does that include coin drops, Ripple etc?

Does ripple pay interest?