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Is Crypto the new contracting?

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    #41
    What us poor non-doms?!
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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      #42
      Originally posted by Jog On View Post
      I don't recommend this kind of thinking. I see a lot of it on this forum - lots of bitterness and anger toward those of us who are in and helping each other make money.



      https://www.inc.com/jessica-stillman...your-envy.html

      Feeling envious of others and wishing them to fail could be holding you back in other areas of your life.
      No, I'm not against crypto, I see it as no different from stocks and shares really.

      You could lose money on either.
      "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
      - Voltaire/Benjamin Franklin/Anne Frank...

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        #43
        Originally posted by b0redom View Post
        Presumably you can offset losses against gains though? Otherwise if an when it does all collapse people are going to be hit with a massive double-whammy of a huge loss in 'equity' and a massive tax bill....

        If the coins crash to zero (or near as) by time of self assessment then no CGT to worry about, even if cashed out to £s by then, as the CGT is calculated on the profit value of each coin being traded and that profit is in the coin being traded not £ equivalent.
        Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

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          #44
          Originally posted by scooterscot View Post
          "Germany

          Bitcoin has been considered a type of private money since 2013. Although Bitcoin is subject to capital gains tax of 25% in Germany, such a tax is levied only if the profits on Bitcoin are acquired within one year after the receipt of Bitcoin. Thus, taxpayers who hold Bitcoin for longer than one year will not be subject to capital gains tax and their transaction will fall within the scope of a non-taxable “private sale”. The treatment of Bitcoin in Germany is similar to the treatment of other investment instruments, such as stocks or shares."


          Bitcoin taxation in the developed countries - No More Tax
          Ouch so the taxation for some of your holdings will be 25%?

          Comment


            #45
            Originally posted by cojak View Post
            No, I'm not against crypto, I see it as no different from stocks and shares really.

            You could lose money on either.
            I like to think about stocks and shares as investing in the future. Even if I am wrong....

            Comment


              #46
              Originally posted by TheGreenBastard View Post
              Ouch so the taxation for some of your holdings will be 25%?
              If he can't pay I am sure we will have a whip round.

              Comment


                #47
                Originally posted by TheGreenBastard View Post
                Ouch so the taxation for some of your holdings will be 25%?
                What holdings?
                "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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                  #48
                  Originally posted by scooterscot View Post
                  What holdings?
                  Any holdings in which one asset was exchanged for another and was held for at least 1 year in total.

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                    #49
                    Suddenly their assets? I thought they were fairly dust that did not exist?
                    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                    Comment


                      #50
                      Originally posted by scooterscot View Post
                      Suddenly their assets? I thought they were fairly dust that did not exist?
                      Huh?

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