Accountant's Guide: CRYPTO TAXES Explained for Beginners (UK)

[@MamieEvans-dp6sc]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@AliceAnderson-in1et]

How can one start,most times people don't know where to start when it comes to crypto. But it would be great if you can provide proper guidance on steps to follow please

[@MamieEvans-dp6sc]

As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant

[@AliceAnderson-in1et]

Please how can I get in touch with this Alex Gomez ? I really need to give him a try

[@MamieEvans-dp6sc]

This is he’s telegrams user name

[@MamieEvans-dp6sc]

@AlexRcoin THAT IS THE USER NAME THAT IS HIS USER NAME

[@raalaa121]

Absolutely sick to the back of my teeth with the taxes and rules / regs in this country. It really is time to pack my bags, i've been avoiding the decision for far too long.

[@tf2368]

Get out of the UK. The biggest joke is inheritance tax

[@knowledgeseeker5499]

Just keep paying taxes after taxes even on air pollution and gas which is nothing to do with small car owners. Modern days slavery we are living in

[@knowledgeseeker5499]

Next taxes would be on certain numbers of farts 💨 allowed or you have to pay tax for air pollution to hmrc

[@auntieweirdo]

​@@knowledgeseeker5499 don't give them ideas!

[@auntieweirdo]

​@@knowledgeseeker5499 don't give them ideas!

[@jamessmithson-br7rm]

As always we take on all the risk, but HMRC wants a chunk of any profits 😂

[@brubakerman8717]

They don't deserve a penny.

[@AtticusDenzil]

@@brubakerman8717 they deserve jail for theft

[@ewanc1]

Exactly and if we were banks/a bank, we'd get bailed out if we failed but instead, as individual taxpayers, we pay for the bailout. Great isn't it.

[@prodes1249]

sadly the people are still slaves to this scam system that makes the rich richer and the poor poorer, hopefully they will wake up and speak about their damn life

[@JoeBarnesAuthor]

Blame the lockdowns everyone so willingly supported back in 2020/21. Government paid out huge amounts and now it wants it's money back. Use to get £12,500 tax free a year and now down to £3000. This is because of the lockdowns.

[@danieltarran8370]

What is the best strategy to enter crypto trading now for someone with more or less than $5k

[@siljavatunen3469]

You need a pro or very goodTrader. Someone like Stephany Reuben

[@tarupollanen4008]

Almost gave up due to constant losses, but Steph turned my luck around

[@lucasbagno2951]

I went from 20k to 195k with Steph. Thanks to that i paid off my debts

[@sergioromanos8907]

Leveraging market changes is a remarkable talent Stephany has

[@danieltarran8370]

know how to reach her?

[@changeyourlife1980]

Income tax, national insurance, council tax, value added tax (VAT) on everything we buy, road tax, fuel duty, inheritance tax. Sick to the bone of this country's taxation 🤮 we give more than half of what we earn in taxes. Disgusting!

[@AtticusDenzil]

Absolutely.

[@hpopov]

Most people loose money on crypto, so HMRC will actually loose money on crypto taxation.

[@xonic5025]

@@hpopov How HMRC loose money on crypto taxation? You taking all the risk when investing in crypto. If you lose money, HMRC don't care, but if you will make profit, then you need to pay sick taxes.

[@adamlawrence6961]

Yet they print amd debase our money whenever they see fit! Absolute extortion! We need a revolution

[@drkashem8416]

I think I will need to move to Dubai to many tax’s rules

[@northwestcoast]

You can swerve the tax if you hold bitcoin until such a time you’re able to spend it without first converting it to fiat. There is zero chance I’m paying any tax on bitcoin. The whole idea of bitcoin is to circumvent the corrupt money system.

[@alanhaynes9672]

You can easily spend it without converting it. There are multiple accounts with apps/ cards etc that do this

[@ddbb6618]

Err don't think so, even if you gift it there is Capital Gains tax (CGT) to pay. Directly paying for goods or services with Bitcoin will still trigger CGT ... this is UK tax at present. No escape I'm afraid.

[@imerz87]

@@ddbb6618 what about cold wallet storage?

[@sbfox4795]

@@ddbb6618 P2P agrees paying goods should be okay

[@scottycharisma5310]

@@ddbb6618 CUCK!!

[@charlesjoseph1364]

I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow

[@douglasolivia6556]

I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?

[@gabrieldenise3800]

Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face losses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.

[@ericedwardroger3336]

I will advice you should stop trading on your own if you keep losing.

[@ericedwardroger3336]

If you can, then get a professional to trade for you I think that way your assets are more secure.

[@ericedwardroger3336]

I'd recommend Sina Ano Bubb, her profit is great even when there's a dip

[@davidburgess222]

They want to tax people on their investment gains but if you lose your investment they won’t step in and reimburse people! Absolutely bollocks, always on the take!

[@TomsPersonalFinance]

why should the Government reimburse you for your investments that go wrong? Not trying to cause any argument and genuinely curious as to the logic there.

[@zainsyed9811]

@user-si7fj5rh5u yes if u declare a loss one year and then have a profit the next year you can offset it

[@jamescrosby3431]

​@@TomsPersonalFinance because it does this when banks fail and covers customers up to 50 grand of losses. In crypto it offers zero protection. So why would anyone pay tax for a service that doesn't exist?

[@TomsPersonalFinance]

@jamescrosby3431 If I invest in a stock and it goes to zero, I would never expect a penny back from the Government - that is on me. Protection for cash is different and ensures faith in the banking system. Completely different thing.

[@jamescrosby3431]

@@TomsPersonalFinance maybe not but the person who created a Ponzi scheme that stole your investments would be arrested and any assets would be recovered. In crypto there isn't even that luxury. So no crypto investor should be obligated to pay tax.

[@princeD1100]

Excellent video, but at the same time it angers the hell out of me at how evil the UK tax system is 😠!! The economy is crashing at an alarming rate, and the rising cost of living is going through the roof, yet HMRC is squeezing more and more from us regular people trying to make a living!! Absolutely sickening!

[@prodes1249]

welcome in the club, cry in slience or move to dubai tax free i guess😂or use untrasable wallet😉

[@dappatrades]

Thieves eh

[@princeD1100]

@@prodes1249 That's a good idea.

[@flyhi2773]

Could try a Palau digital residency too and bank off shore but I’d honestly start thinking about emigrating or becoming a digital nomad. The UK won’t quit, not even once they’ve got you homeless, they’ll not even then be happy. It’s a criminal state but most are in denial.

[@princeD1100]

@@flyhi2773 I could not agree with you more. The establishment are servants to the WEF's agenda, the population will own nothing and be happy!

[@saj3694]

I am not paying TAX on my crypto. My money ,my risk. I rather go to prison.

[@rollerballrico]

De register from the gov , get rid of birth certificate and remove yourself from it. Not lawful its legal two completely different things

[@HowardARoark]

Good luck to you.

[@Happy_CHUNK]

Same here

[@user-ij8gf9je7r]

@@rollerballrico joker government wants to ban crypto but wants the share of profit from it what an irony.

[@manni192]

You would rather lose your liberty than pay 20% tax on your gains? Bit extreme in my opinion. Time is worth more than any money.

[@astasiamyers6963]

What is the best way for someone with more or less than $8,000 to start trading cryptocurrencies right now?

[@tarupollanen4008]

You need a pro or very goodTrader. Someone like Stephany Reuben

[@danieltarran8370]

Steph excels at capitalizing on economic shifts and I have confidence in her trades

[@lucasbagno2951]

Almost gave up trading due to constant losses, but Steph turned my luck around

[@lucasbagno2951]

Now they yield about $13000 monthly

[@astasiamyers6963]

any idea on how i can get ahold of her?

[@CharisCharis-ho5ss]

Hey, I want to start investing but I don't know where to begin. Any advice or contacts for help??

[@user-ef6zt5lc5b]

Talking to an expert like Nancy Hall to reshape your portfolio is a very smart move.

[@gabrieljames7827]

The reality is, you cannot do it without a tried and true trader like Nancy

[@joycechristian]

If a person is direct and proficient in their work, others will sure consistently vouch for them. I love her transparency!!!

[@chrischarlton6395]

how can I reach her please?

[@armstrongdaniel5500]

I keep seeing different recommendations about this woman. She must truly stand out for people to speak so highly of her. 🤔

[@Peshiolini]

Even HMRC don't know much about Crypto and how to work out gains and there aren't many crypto accountants about because crypto has never been advertised in the UK, my friends no nothing about it....

[@HDGaming300]

*Know

[@alant7797]

Thats why they are leaving it up to you to work it out for them then they charge you for the privilege

[@user-ch8ku6qe3x]

hmrc are scum your capital your risk your return .. then they want the profits ...

[@CatherineMason425]

I value your perspective and content.Bitcoin is on its way to breaking records, getting closer to hitting new high prices, showing that it's gaining more value and could go even higher than we've seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It's an exciting moment that could change the game in general...managed to grow a decent 11.4Biitcoin. At the heart of this evolution is Whitney Eston , whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment..

[@CatherineMason425]

She's mostly interacts on Telegrams, using the user-name...

[@CatherineMason425]

@WhitneyEston

[@DarcyFornachon]

I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience…

[@michaeleder]

Building a good investment portfolio is more complex so I would recommend you seek Whitney support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams.

[@RonaldYeates]

The market's top signal provider. Highly knowledgeable and level-headed..

[@LydiaAlexas]

I often hear people talking about the profits they make from investing in Bitcoin and Forex. As someone new to this, how can I begin?

[@IsabelleAdalynn]

Engaging in trading without a thorough grasp of the market is precarious and could result in depleting your account.

[@PatrickDay-zq4kq]

I will recommend Expert Rosie to you

[@DorisMelodys]

Rosie's strategy stands out as the most effective among other experts. Many others are not dependable.

[@KelvinKenn]

It's quite a coincidence. Rosie has also been overseeing my trades, and her strategies are truly remarkable.

[@PatientAnnabelle]

Please how can i reach Rosie directly?

[@grizbaseball]

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

[@FannyMontage-xu8id]

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

[@bombasticlove76]

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

[@mohamedali-fj8xz]

Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.

[@alasdekarton]

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@ZoltanKen]

Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@charliebrown7904]

Taxes are only payable when the crypto has been transferred back to hard currency. Also, if taxes are paid on profits, then losses should also be included in working out profit & loss accounts. You can also claim for equipment costs used for trading. Electricity fees, phone costs etc.

[@ineedtowin]

Wrong wrong wrong. Say u buy btc with fiat gbp and later convert to usdt. That becomes a taxable event. Even swapping some btc say for Solana, u calculate the gbp equivalent of the trade, work out your profit or loss and then start a new "pool" for the solana. Despite what she said in the video u can only offset realised losses against realised profits. If u bought btc at 40k and at tax tear end it's 30k you can't use that loss unless u sell.

[@RossH1909]

​@ineedtowin If I do that on a dex... how they tracking it?

[@RobertMontgomery-rj9hx]

I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.

[@MatthewPatel-yv5ub]

Wow, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.

[@RobertMontgomery-rj9hx]

Have you not heard of Mrs. Lauren Hopkins?

[@RobertMontgomery-rj9hx]

She has this skill of making complex crypto concepts easy to understand and is truly commendable.

[@RobertMontgomery-rj9hx]

Thank you mrs Lauren Hopkins, imagine investing $12,000 and received $305,500.

[@RosaMariadelosSantos-]

You know her too? I'm also a proud beneficiary of her superb platform.

[@AlexandraScotts]

I frequently hear people discussing the returns they earn from investing in Bitcoin and Forex. As a beginner, how can I get started with it?

[@PatrickDay-zq4kq]

Investing without a strong understanding of the market is not prudent. I suggest consulting Expert Rosie for guidance and advice.

[@JohnsonsAlbert]

Sounds familiar, i have heard her name on several occasions.. and both her success stories in the wall street journal!!

[@LoriBrandley]

My friend has been mentioning this woman Rosie to me. I'm considering giving her a try to see what she can achieve in the market.

[@NickOwens-uu4gk]

Rosie has certainly established a strong reputation. Thanks to her strategies, I managed to purchase a comfortable apartment in the USA.

[@SiarraSky]

This is my second year trading bitcoin and all i can say is Rosie Harley strategy changed my life completely.

[@KateDormer]

I'm favoured, $35k every week! I can now give back to the locals in my community and also support God's work and the church. God bless America..

[@carlajay3400]

That's awesome, which source/platform did you use to earn such huge sum of money?

[@carlajay3400]

As I know it's possible, I'd appreciate it if you showed me how to do it.

[@KateDormer]

Mrs Annabelle Hartfield service made me who I am today and God is the master planner

[@KateDormer]

I know I’m blessed if not I wouldn't have met someone who is as spectacular as Mrs Annabelle Hartfield

[@annaarthur80]

So you guys know her too?... She made my husband and I have our own house and car. She’s very good! 👌

[@Rebel_Palm]

Never pay crypto tax

[@RentTrust]

I found the video interesting. Can you provide tips on achieving profitability in Bitcoin or Forex investments? I've been facing ongoing losses in my account.

[@WinnieAnnabelle-hi5gz]

Investing without a thorough understanding of the market is not recommended. I suggest consulting with Expert Rosie for guidance.

[@JudithEvelyn-zq7zq]

Rosie's strategy stands out as the most effective among other experts. Many others are not dependable.

[@LydiaAlexas]

It's quite a coincidence. Rosie has also been overseeing my trades, and her strategies are truly remarkable.

[@JosephJeo-eb9oi]

When someone is direct and proficient in their work, others will always advocate for them. In my opinion, I would recommend giving expert Rosie Harley a chance, and you'll be glad you did.

[@JoyNaomi-kf7dn]

Rosie has certainly established a strong reputation. Thanks to her strategies, I managed to purchase a comfortable apartment in the USA.

[@Theodoremiles1444]

As the price of Bitcoin and other crypto is unstable and likely to decrease more I think the best investment one can do is investing on Forex trading and crypto trading, I’m saying this because ever since I started trading I have seen a significant difference.

[@Cindymarlena]

Best way is to diversify your investments and a good trading system would yield massive profits.

[@christaindonald2735]

Investing in crypto is the best way to make money in the market. Avoid hodl crypto!Invest with a pro-trader instead

[@Yolandagarcia35097]

Such a genuine personality!! He is really a good investment advisor. I was privileged to attend some of his seminars. That is how I started my crypto investment with his guidance.

[@Denisju]

@Albertoforsure This sounds so good and I would like to be a part of it. I will reach out to him.

[@NatashaEl]

It's a smart move to get help from experts when you're starting to build your financial portfolio. It can be quite complex, so seeking professional guidance is a great idea.

[@NatiaMaisuradze-ey5iq]

"Patterns in financial markets tend to repeat themselves over time. Artur Grandi's book offers valuable insights into stabilizing investments and highlights potential investment opportunities, including within the cryptocurrency market

[@Hermit-63]

Totally had enough of this country. It taxes us into oblivion. I’m setting up a free zone Crypto trading company in Dubai and staying outside of the UK for the required 6 months. Gets you an Emirates ID and bank account to trade from. Transfer your tax residency to Dubai. 0% Personal Income tax/Capital gains tax. Minimum 90 day stay there to be legal. Renting an Airbnb for the duration in Dubai then 3 months in the Philippines. HMRC can stick it where the sun don’t shine.

[@anthb3377]

If you come back to UK within 5 years with the profit the CGT still needs to be paid.

[@Hermit-63]

@@anthb3377 I should have mentioned I won’t be coming back other than short visits to family. Appreciate the point made cheers

[@user-ch8ku6qe3x]

@@anthb3377 lol why would you return to this shit pit

[@anthb3377]

@@user-ch8ku6qe3x good question haha

[@gadaffi1000]

Portugal is also tax free for crypto and a bit closer to home. And you don't risk getting beheaded for puffing on a blunt.

[@amarjotlohia2274]

I watch your videos and they are really helpful for day to day, finance Management.

[@KiranKaurFinance]

Glad you like them!

[@Manuelvargas1]

As it is now I think the best investment one can do is investing on Forex trading and crypto trading, I’m saying this because ever since I started trading I have seen a significant difference.

[@Cindymarlena]

Best way is to diversify your investments and a good trading system would yield massive profits.

[@christaindonald2735]

@Albertoforsure I have been thinking of moving into crypto and Forex tradin can you please help me trade?

[@Franciscalisa]

As a beginner, is essential you seek guidance of a well experienced broker to monitor your trades

[@ReedLippert]

I first heard about Smith Jones' excellent trading experience on CNBC news.

[@ReedLippert]

The first time we tried it, we invested $3500 and after a week we received $19650. That really helped us a lot to pay our bills.

[@JerrySmith620]

Thank you for your videos mate.. . Crypto education is what the world needs the most right now. I don’t think that buy and hold is a valid investment strategy anymore. Not too diluted and to a degree, follows Whitney’s trading ideas and signal tips for your portfolio growth and aggressiveness. He is a man who has not only taught me what the cryptocurrency trading world looks like but a secret to uplift my finance. Buying crypto and waiting for the price to shoot up is not the best way to invest in the market but buying and trading is. Craig Reeder trade signal does the heavy lifting, generating competitive returns for crypto traders and investors in the form of money and peace of mind. Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path...

[@JerrySmith620]

He's mostly on Telegrams, using the user name.

[@JerrySmith620]

CraigReeder

[@asmaaamir-gn7ut]

Thanks for keeping it light and real at the same time. hodlers like us really need him in times like these

[@omaresdossantos]

Nice info, i appreciate your concern this will help a lot especially to the young bitcoin investors who have no or lesser knowledge on how bitcoin market works....

[@sabiasque6853]

Craig Reeder’s analyses go beyond surface-level trends. he delves into technical, fundamental, and sentiment analysis, providing a holistic view of the market.

[@MrCliveado]

Just plain theft.

[@futspychatshit9718]

Ive been holding for years and have been rekt in crypto cycles...cant pay tax if you dont make profit

[@adespade119]

Wait till they introduce unrealised capital gains, IE if your asset goes up, they want you to pay on the increase in value, irrespective of whether you sold it or not.

[@user-tj5ed9fu3i]

dont trade dont swap just hold, and ledger in the future easy money. no tax at all

[@GadgetExplained]

hey your comment caught my eye...what do you mean by "ledger in the future"?

[@Andersonray665]

Nice video, trading comes with a lot of benefits And I have just bought my first house through it As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.

[@Pearl.terry776]

Inspiring! do you think you can give me some advice on how to invest in a healthy way as you are doing?

[@Andersonray665]

Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert, watching professional trading videos and most especially connecting with the right person The digital world is full of unreal people, I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing, I understand and I pass through it all. I’m very happy I’m profiting now.

[@Colingraff]

I can relate to all you said because I am facing similar thing right now. Congratulations I wish you more success.

[@StephenR.Sanchez]

Hey how good are your earnings I will like to get some insights into trading thank you.

[@Andersonray665]

Currently i can attest to the fact that I make $19,600 weekly through trading which is more better then my monthly salary job. trading becomes my passive income. It's not about being educated but it's about seeking for the help of a professional broker

[@olao629]

Awesome job you've done with this video. Simple and easy to understand. Thank you.

[@Melbn-di6mi]

Lately i got interested in crypto but has no idea on how to go about it. How does it work please..

[@waynes4369]

As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by Stacey Macken a widely known crypto consultant

[@dorathystephanie7702]

I am surprised that this name is being mentioned here, I stumbled upon some of her clients testimonies on CNBC news last week..

[@aniniels-hw5iv]

What impresses me most about Stacey Macken is how well she explains basic concept of winning before actually letting you use her trade signals. This goes a long way to ensure winning trades.

[@ivar766]

Her technical analysis is excellent and hid interpretation/projections of the market is so accurate I sometimes ask myself if she is human haha. Point is, Stacey is the perfect trader to follow for advise and daily signals.

[@AIIG-zd5dx]

Her stop calls have saved me from potential losses more times than I can count. Macken's risk management strategies are truly effective

[@dragon212008]

Thank you Kiran, i am new to Crypto world, therefore this video is really useful. Just subscribed to your channel. Looking forward for the next one. Thank you again.

[@KiranKaurFinance]

Glad it was helpful!

[@Owaismh54]

Very well explained! Awesome

[@KiranKaurFinance]

Glad it was helpful!

[@KyleGary0]

While I knew a majority of what you covered, it was small nuggets of info I found dotted about or picked up here and there. I have never found a full comprehensive video like this so cudo's to you! I'll be passing this on to friends when they start quizzing me on the new Safemoon ha.

[@jf9484]

Never sell your BTC, no TAX event if you don't sell it. Use it as collateral to borrow against, a la Michael Saylor?

[@robertgemmell1485]

Who in the UK will let you borrow against BTC? Genuine question? I cant see Nationwide for example giving you a mortgage because you hold 10 ETH.

[@jf9484]

@@robertgemmell1485 Maybe it's not possible at the moment but as Bitcoin becomes more mainstream and legititimised by tradfi, perhaps soon? Or perhaps I've been listening to Michael Saylor too much.

[@zeroounce8874]

@@robertgemmell1485will happen pretty soon. They will put this into motion.

[@erhan.destan]

Only applies to big dogs, who own millions worth of dollars / pounds.

[@mrgreen8654]

The UK government doesn't deserve our hard earned money... 🤷

[@joehamson3210]

Great Video Kiran, lots of useful information in this one! Thought you were in the trenches with us until you used Litecoin as the example!

[@jamessmithson-br7rm]

Very helpful and in line with what I have seen elsewhere. Thank you

[@KiranKaurFinance]

Glad it was helpful!

[@rossward7801]

The only way to outpace inflation caused by money printing is to invest in assets, yet even here the government are increasingly persecutory of those taking large risks to just live a normal life.

[@SteveRogers461]

Another Excellent Video !!! Thank you !!!

[@KiranKaurFinance]

Thank you, I'm glad it was useful

[@jimih8539]

Thank you 🙏, I’ve been looking for ages for info about this ❤️

[@KiranKaurFinance]

Glad it was helpful!

[@alant7797]

Get it into a decentralized wallet while they are low and leave them there until you open an account in a tax haven stay out the country just over 6 months and your not classed as tax resident

[@davidburgess222]

They don’t want the average person like myself and many people to make money , the system is set to keep us down, I'm so tempted to make a channel myself and unite with people like me

[@sunishotra9958]

Great video, the best thing for people to do when it's time to take profit, is to speak with a reputable tax advisor cause there's not avoiding this. You have to pay taxes unless you're never gonna take profit from your investment or face prosecution, pick one.

[@northwestcoast]

Mr taxman? Is that you?

[@sidonio123]

So many ways to avoid if you wish too.

[@brubakerman8717]

Best thing for you to do is not give advice.

[@thevitruvianman9781]

Says the taxman

[@erhan.destan]

Well said! ​@@sidonio123

[@RichardEnglander]

Sell BC to buy gold sovereigns and Britannias by post. They are currency and thus escape capital gains tax.

[@LeahRoberts618]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Kimberly Smith.

[@Robert.Maynard]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

[@RomanAtwood79]

I'm new at this, please how can I reach her?

[@LeahRoberts618]

she's mostly on Telegrams, with the user name.

[@LeahRoberts618]

Ksmith6 💯

[@Donnawilson736]

Mrs Kimberly Smith was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Kimberly Smith.

[@yenni7363]

Appreciate this. Thanks so much!

[@jstubbs8016]

a question , i'v been in crypto since 2017 hmrc only took an interest in this market in 2021 so do i assume correctly i would be liable for back taxes and maybe penalties reaching back to 2017,i have prepared my self assessment and shall be honest with hmrc .... but yet again it's the rich and the powers that be that don't won't the working class to become wealthy as they will lose a section of society who won't wipe there backsides anymore.

[@manni192]

You will potentially owe taxes for any crypto to crypto transactions that resulted in a gain. You do have 12k CGT annual allowance from 2017 to 2023. 6k allowance from 23/24 and 3k allowance from 2024 onwards. You may not owe anything if it falls under your allowance

[@jstubbs8016]

thanks for the reply i know all of the above i just felt the need to make a statement , you forgot to mention that btc is now classed as an asset the same as stock and shares and it's conception was never intended for that purpose only peer to peer to cut out the greedy middle man/woman . sorry if i have offended you anyone else on this stream.

[@manni192]

@@jstubbs8016 all good bro, no offence taken and no need to apologise..from what I remember HMRC published their first crypto tax guidelines in Jan 2018 and expect everyone to comply regardless of date you first got involved. They currently have a reporting amnesty where they will reduce penalties for people who self report anything owed

[@northwestcoast]

@@jstubbs8016Exactly. The philosophy behind bitcoin means that it’s morally exempt from taxation

[@princeD1100]

@jstubbs8016 - I agree with you 100%. Since the pandemic, the wealthy is on a mission to destroy the middle class and amass ridiculous amount of wealth from the masses for which they have achieved record profits! Remember one of their absolute goals by 2030 is for the population to own nothing and be happy!

[@MegaS-UK]

Nice video, explains it really well. A lot better than the HMRC website!

[@JestersDeadUK]

Good luck on getting the tax from all those miners years ago when it was profitable and people had multiple graphics cards running in a mini rigs. I know some people made a LOT.

[@manni192]

They will owe income tax and NI so worse off than paying CGT

[@readingtime8209]

Could they do any crypto mining or just for their coins?

[@321Tdog]

Moving to Singapore is looking reaaal Juicy right now 👀✈

[@thisbliss81]

Thanks Kiran. I assume its ok to offset cost of hardware wallets etc and also cost of your purchase fees as well as selling fees?

[@dreamkiss]

Only need to pay taxes if its withdrawn into a UK bank account just move to a different wallet and if HMRC asks you've forgotten the password key.

[@AutoTradingAi]

That doesn't work because HMRC can ask the exchange for your trading information.

[@badthat12]

What about tax on swapping tokens etc?

[@AG-so4gl]

Panama or Dubai 😊, or a Nomad life and dont hit being a tax resident, IE hop countries every 5 months...

[@Gilmore-ho8rz]

What is the best way to make money from crypto investment as crypto is turning around massively.?

[@user-sj5yw6fo6h]

I think all you need is an expert assigned by a brokerage company that will trade for you and handle your capital professionally and give you weekly returns of investment without any extra fees attached

[@user-sj5yw6fo6h]

I personally employ Ms. Evelyn Turner as my t'rader. Her ability to t'rade and produce big pro:fits, in my opinion, is excellent.

[@melissaziglar6620]

Yeah that's right I think the best way is to invest with a professional, at least it saves the trauma of too much losses.

[@Sofia32872]

Seeing a remark regarding my manager Evelyn Turner is quite energizing. It was just like this when I first met her a few weeks ago. Having started with just 4k about 2-3 weeks ago, I have already made it to 21 k. She is very remarkable!

[@Samuel-bh6ei]

Goodness gracious I'm so excited seeing Ms.Evelyn Turner been mentioned here also. Didn't know she has been good to other people too, this is wonderful because I also started with a KZbin referral like this

[@marcusl12345]

Additionally with a spouse if you are on a higher tax bracket and your spouse not, then you can transfer them assets for them to sell and only pay 10% CG instead of you selling them and paying 20%. I believe this is up to the normal income tax bracket then your spouse would pay 20% also on any gain over 50k (combined with their income also)

[@freddiearthur2151]

Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️

[@freddiearthur2151]

Sure, the investment-advisor that guides me is..

[@freddiearthur2151]

Kathy lien

[@henrymartin9168]

Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!

[@harveyoscar2925]

😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!

[@ghazanferfazli7335]

Wow wow please is there any way to reach there services, I work 3 jobs and trying to pay off my students loan for a while now!! Please help me

[@mikewhelan6649]

Moving to el Salvador 🇸🇻 in the future. I'll spend my bitcoin as i like 👍🏻

[@danielpalacios9626]

Imagine to have a government imposing laws and regulations to take your crypto away and still hiding Satoshi Nakamoto’s real identity… That would be bonkers 😂😂

[@tf2368]

They are calling crypto a scam while collecting money on it

[@danielpalacios9626]

@@tf2368 exactly, passing laws and regulations but zero transparency to retail. Wouldn’t they need to be transparent and reveal BTC creator/s before making the tech and market participation lawful and taxable? 🤔

[@user-ch8ku6qe3x]

@@tf2368 which is the same as their central banking cartel and fiat

[@paulcampbell348]

Excellent video. Very clearly explained

[@JatSingh143]

Thanks Kiran, wish I had heard this earlier. 700k 3 years, HMRC jumped on me recently with NCA lol

[@Impressmehuman]

How about NO

[@CM-rm3xj]

Useful, thank you Kiran.

[@PascalDosztoivsky]

You are absolutely a pleasure to watch & listen too KAREN !!

[@blivak8230]

Capital gains tax only WHEN the asset is sold for a profit. Don't sell,keep stacking satoshis

[@abdulhaitham4001]

Kiran you are a shining light to this new tax maze and both crypto enthusiasts and HRMC will laud you for this!

[@mistervrai9251]

Brill video - this confirms what I thought previously. Great to know you can carry losses over. Thank you.

[@KiranKaurFinance]

Glad it was helpful!

[@r.lee6924]

You can take a 50% loan out on your crypto also. You don’t pay tax on loans, so effectively that capital gains tax drops to 10% in theory as 50% of your crypto is tax free now. 👍

[@paulbutler-street413]

Not paying tax on my crypto I have already paid fees and tax when buying I refuse to pay tax and fees to sell it

[@jakemines001]

Thanks for the info! Pretty much the same as last year, another 50% cut to capital gains allowance 🤮

[@Enhancedlies]

great breakdown, thank you!

[@marieevripidou1607]

It makes me so angry they tax bitcoin. original bitcoiners got into a the coin as an alternative to the current corrupt monetary system.

[@Reizermo]

Useful video. Thanks Kiran. And good job on the channel. Piece of advice....the other woman who makes videos like this starts every video by saying "I am a chartered accountant and former investment banker!". In EVERY video. It is so jarring. So I suggest don't over do it on that side of things. Once in every 4 videos is enough. People don't really care that much about qualifications. Anyway...good luck growing it!

[@barrytherave1345]

Makes no sense, i swap 1 token for another token and make a profit but the next day the profitable token has dropped out of its ass and now its at a loss. So i made profit at time of swapping but next day im at a loss..............Also what happens if i send X amount of tokens to the wrong wallet address and lose all my money OR if i get hacked and lose my money. How do i prove this............i cant pay tax on profits that have been stolen

[@AutoTradingAi]

If the value of a coin goes down, it's not a loss unless you sell it. If your assets are hacked and stolen it is considered as a loss, so you can record it to offset against future profits.

[@coolco1619]

Can you do a video on tax pay for profits gained from sale of Shares.

[@GalacticEchoBox]

Great vid, thanks! What a bloody mess though 😳

[@KiranKaurFinance]

Thanks for watching!

[@yarkahaji]

Amazing vid, we need to help HMRC understand crypto better cuz most of just loosing money to be frank and swapping as taxable event is unbelievable

[@markgb9227]

Great video, clear and concise just subbed. quick question, if I've held these tokens for "over" a year does this reduce the amount of cgt I pay? or is that a U,S rule?

[@KiranKaurFinance]

Thanks for subbing! I'm not aware of this rule in the UK

[@markgb9227]

@@KiranKaurFinance ok thank you for the reply.

[@gopal108b5]

Crypto is a gamble . Casino winnings are tax free..so why isn't crypto?? We are risking our own money thats already been taxed!!

[@BitcoinAndCryptoCurrency]

very good to learn the currency future

[@overseshed4385]

With CGT do you need to add you taxable gain to your taxable income, this total will then determine which rate you will pay CGT at? Pretty sure I read this on the government website? But you've not mentioned it here. Also I see plenty of videos on crypto tax, but all assume that any sale of crypto is for fiat. What if I swap my WETH for PEPE? How am I supposed to pay tax on that? Does HMRC have a PEPE wallet I can send 10% of my PEPE to? The term 'disposal' is intentionally difficult. HMRC need to buck up their ideas. I'm reading the comments and I'm pretty sure people wouldn't be so mad about paying taxes if they felt like the British public actually saw the value. Instead we have a failing healthcare system, all of our infrastructure has been flogged off to foreign investors, cost of living has gone though the roof and we are in the depths of a housing crisis. This country has gone to the dogs.

[@bmunckton]

They don't assume any such thing. When you sell WETH for PEPE your disposal is of the Eth at the time of transaction and the tax due on said profit or loss of the Eth in question. Calculated in pounds obviously. The Pepe now has a known purchase cost. And again when sold will have to do the whole thing again, whether it be into Eth, Stables, or Fiat when eventually sold. In your scenario say you bought £1000 of PEPE and the Eth used originally was bought for £100 a few years ago. You have made a £900 gain. Way under the threshold but it all adds up. Oh and then if Pepe goes to zero you still owe the tax on selling the Eth, lol.. It obviously gets a lot more complicated than that. Gotta love the UK 😒

[@setto9832]

Thank you for this video Kiran... can accounting expenses to calculate the profit/loss of your crypto transactions be deducted as well from the sale of crypto assets?

[@smile3884]

I will listen to your advice tomorrow

[@solomusic-mx7fu]

I am not happy with UK tax system Disagree with on every Tax they Apply

[@hasanakarsu8448]

That is mean that if you don't work, you don't lose anything. And, to make it clear, after you pay tax, you will pay vat too when you buy something. So hmrc and government will get minimum %36 of you income.

[@AlainaCooper-m5c]

You're doing a fantastic job! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). What's the best way to send them to Binance?

[@AlbaCountertenor]

Interesting and topical video!

[@KiranKaurFinance]

Glad you think so!

[@christophermaxwell5005]

great video, thank you

[@KiranKaurFinance]

Glad you liked it!

[@footyball66]

I don't understand why the UK taxes crypto. Crypto is gambling more than it is investing and gambling isn't taxed in the UK. The UK doesn't even regulate crypto either, so why does the government think they deserve a share of the profits from people who gamble in crypto.

[@alex90benato]

It’s not gambling at all mate

[@Mogsoni]

Hi Kiran, good video but the only question I need answered is if the transaction of staking and unstaking is a taxable event ? I'm not talking about the rewards as I know that they are deemed income so income tax not CGT. When you stake and unstake you dispose and receive your tokens back but they are still yours so it's a grey area. Anyone with major funds in crypto could come very unstuck if they go the wrong way. I'd appreciate your advice please. I use koinly tax accounting software for crypto and also get them to do an expert review which was extensive but I recommend this 100% as there are so many TX that need tweaking. My total amount of TX per year is in the region of 2-3000, sounds alot but with crypto swapping bridging , trading etc these things really mount up hence the expert review. Koinly left it to me to decide if it was taxable as they can't decide for you as they may have some liability

[@RossH1909]

What happens if you use dex's? Its a wallet number, there is no way of attaching it to personal details. Also, what if you are day trading, arbitrage swapping, mutiple leverage trades going etc... etc. You're making hundreds and hundreds of transactions. How do you even begin to keep track of that for tax purposes?!

[@chazprouk]

First rule in creating any law - MAKE IT SIMPLE

[@Jaden48108]

This is why one should never sell their BTC. In the US the government will take 15% of your profits should you sell. So . . . don't sell. Borrow against at 5% or less, plus you get to keep your crypto when payment is finished. Essentially BTC becomes a banker's coin. I know some people who don't even pay interest off a BTC loan. I wish I knew their secret. But it's there. You can do it. Be your own bank.

[@dc_shorts9700]

I’ve heard about this but don’t understand it fully. If I borrow against my crypto how am I paying off the borrowed money if I’m still keeping the crypto?

[@Jaden48108]

@@dc_shorts9700 Good question. One answer is don't put up all your crypto and pay off with whatever crypto you have left. If you have enough money in fiat, pay with fiat until the loan is paid off. The objective is to preserve as much crypto as you can while accumulating what you need.

[@GadgetExplained]

@@dc_shorts9700 good question

[@chiphawkins42]

Tax is actually voluntary in the UK, not a lot of people know this....

[@pnandhra2008]

Are you able to clarify where hmrc would see us as traders and where they would see us as investors. A friend of mine spoke to a crypto tax advisor who said that if you are making a daily income from your crypto, then you are classed as a Trader, in which case the taxes will be higher. If it appears that you're holding the investment long enough to not create a daily income, then it is the other definition, you are then an investor. How correct do you see this statement?

[@FOCSANI]

They don’t make it clear they say you only pay income tax on trading in exceptional circumstances so they can make it up as they go along

[@DeckTested]

I think it's important to mention that if you're not exceeding the current £3,000 profit allowance for CGT then it's not actually required for you to file a self assessment, at least that's what I've read. So if you have bought 5,000 and sell for 8,000 with a 3,000 profit, technically you haven't exceeded and are not mandated to file this. Unless I'm wrong?

[@KiranKaurFinance]

Yes, thank you for clarifying. You would also need to file a self assessment if proceeds are over £50k (regardless of the size of the gain)