Big Update On Crypto Regulation In The UK!

[@abbadasif1542]

Id rather go jail than pay tax on my money which was already taxed before making the investment. If i loose my money the government wont do anything. I i make profit they wanna take a part of it. This is worse than paying protection money to the mafia.

[@SV-AMG]

at least the Mafia would do something.

[@PvMLad]

When you finally spend your profits on consumer goods make sure to pay your VAT as well. The company that sold you the goods will also have to pay their corporation tax.

[@TheExidion]

I understand your sentiment but it’s the exact same as the stock market, unless you’re using an unregulated exchange they’ll know as soon as you sell and go past the 3K threshold. I’ve seen HMRC go after companies who haven’t paid their tax they don’t hold back so this wouldn’t be any different

[@cater4anytink45]

@@abbadasif1542 I agree but unless your liquid an can hide your doe they'll take your assets to pay the fine at a reduced discount... tax system is bullshit unless you've just swam here

[@sharpy1785]

@@abbadasif1542 don’t forget, you pay exchanges 10% to buy, 10% to sell, then get absolutely walloped for exchanging to your bank. You take so much risk and time, then get fk all out of it.

[@TheKG636]

Absolutely criminal this shit, they should have no right to tax gains we’ve made by using income that’s already been taxed

[@dineshmistry8902]

@@TheKG636 totally agree.... they keep wanting to suppress you anytime you try to use your own skills to become financially independent 😡

[@Adam-mo2qw]

​@@dineshmistry8902I get capital gains. Just don't think the increase from 10% to 18% is helping the working person.

[@Adam-mo2qw]

The UK isn't attractive to any business now

[@TheMonsterReapz]

Boohoo. Yes they absolutely should be able to tax the gains. Without this there would be a furthsr wealth divide. Count yourself lucky that you're in the position to be able to invest

[@DragonXDrei]

@@TheMonsterReapz in that case all crypto investments should be treated as gambling... since gabling isn't taxed, and crypto is just as bad at seeing any returns.

[@coinsilo]

Accurate and clear. Totally agree. Been in crypto since early 2021. With everyone else around the world starting to offer zero crypto tax. The UK needs to adopt the same principle or see an outflow of investment into crypto

[@xperyskop2475]

Only around 5-10% of users succeeded in crypto. And if anyone makes ton of profit they will leave

[@READY-PLAAYER-ONE]

Starmer and Labour are toast next election.

[@garrygrant2394]

Can't wait that long. The country will certainly be beyond repair at that point

[@njuham]

You sure there will be next election? In commie totalitarian states that's not often the case.

[@CrankCase08]

The trouble is that it will likely be the Tories back in all over again.

[@chonnerone2964]

... and then what... more WEFminster..?

[@qandrewq5708]

All the electable parties at Westminster, under the current system, are the same. That's how it's designed. They pretend to be different. Democracy is a fraud. Electoral choice doesn't exist.

[@andriuslazauskas9802]

Why can’t UK do 0% tax, we are taxed already on the money we invest. It is radiculious tax on top of the tax. We take the risk and the government takes our hard earned money.😢

[@MichelleInyeshua]

to hell with the government( they are extremely evil and useless eaters)

[@kbob683]

Just keep buying and ignore the UK government. Labour will be here for 4 years then be gone.

[@pjones9088]

Doesn’t matter who’s in power they answer to the same masters.

[@MR_MT_222]

They will be gone sooner

[@shrimper0311]

well, some id..ts voted for them. And they will do again. This country is going towards communism

[@SteveAldous]

Simply do not comply, escape the slave mindset

[@m1natoh1nata]

but isnt that illegal ...

[@reeceparlato6574]

If I become a millionaire my bank would be cleared then omw to dubi I go fu...the uk government 😤

[@alexpark472]

@@m1natoh1nata The legal system is a fraud. It only matters what is moral.

[@PrinceJohn84]

​@@m1natoh1nataWho cares

[@jafooli]

The way I see it. I'd rather pay capital gains at the end of a bullmarket, than hold crypto through a bear market.

[@stevesairsoft3457]

Ive been shaking my head at the United States and their SEC hassles. Then i look at the UK and let out a very big sigh...

[@Adam-mo2qw]

Crypto tax is crazy now in the UK. All that risk and the UK government take a quarter of your profits....

[@YT-ks9go]

The UK needs to remove crypto to crypto as a taxable event

[@Dtp2296]

Use Defi exchanges. They can't find out or prove anything. When you want to cash out big, go travelling for 6 months then you are not obliged to pay any tax

[@jonbarker92]

With a socialist government in power, I have little optimism about the UK being a crypto hub.

[@TheFlyingHaggis]

Socialist how? I'd like to know your thoughts on that, especially so quickly after an election.

[@CrusaderZav]

@@TheFlyingHaggis Ramping up taxes. Capital gains is up, more national insurance to be paid by businesses. Anti-business, and anti-person, socialist.

[@njuham]

@@TheFlyingHaggis socialist, commie, fascist, totalitarian - this thing has many names, take your pick and don't try to be a smart arse.

[@cryptotharg7400]

@@TheFlyingHaggis Welfare state. "Free" health care. Massive support for single mothers. Loads of "free stuff" for dodgy dinghy people. General decadence and debauchery. It just never stops.

[@MrSuperG]

God is a woman , Karma is coming for is men because we Treated her badly just for money money money, money why this is not how it’s meant to be here I don’t need to change ❤❤❤

[@user-ic9lt9fw2d]

UK Government has over $5 bn invested in Bitcoin. But tells banks NOT to let retail investors send money to exchanges to buy crypto. The Capital Gains tax on retail investors up from 10% to 24% - so dont try to sell it even if you have some.

[@Dtp2296]

Not invested, taken off people for illigal activities. Big difference. And it's more like £20 billion

[@Alex-c1n2d]

24% tax on crypto in UK is a PROPER GANGSTER FEE

[@Alex-c1n2d]

welcome to other ways pay fee to someone other pocket but no to UK tax. WHY???? GREEDY

[@CarlosArruda77]

Find someone say in Portugal where it's tax free. Give them 12% for their services it would be cheaper. Governments can go do one.

[@tomaszhimalajski1693]

It's 18% and 24%

[@Alex-c1n2d]

@CarlosArruda77 that's not possible, once you bought on KYC exchange from UK bank, that's it hmrc will follow you, unless you move for 6 months to a different country as resident. Far as I know

[@dineshmistry8902]

@@Alex-c1n2dit's Criminal

[@Shrewface1001]

Nice to see some UK related crypto into thank you

[@DragonXDrei]

They don't know jack, all they know is that people made money out of it, and they want a piece of it.

[@sleepless1978]

Good update mate. Embarrassing how far behind we are…

[@dineshmistry8902]

Another suberb update on the UK crypto regulations James.... clearly shows how far UK is lagging the EU, Middle East and Asia. Clearly UK is NOT going to be a Crypto Hub and embarrasing the length of time it takes for the crypto firms to register. Very impressed with the successful outcome from BitGet.. I find their app and products excellent. Any idea how close Binance is to getting re-registration?

[@PaulWK1972]

What's happened with Bitget?

[@Summer-1976]

All UK finance and business is sinking under Dark Starmer

[@michaelbailey2476]

The Tories are the same.

[@darf8475]

Excellent content thank you. Brings to light the UK’s backwater approach to this important nascent industry. We’re far behind many countries but should be far ahead by now

[@igorgasperec]

Glad to see someone specifically talking about the crypto future in the UK good job 👏

[@iqbal589]

Brilliant summary of the regulatory landscape currently. You're channel is definitely a staple/gem in the crypto news segment. Especially for UK viewers. Keep up the great work!

[@thecoinknowledge]

Much appreciated!

[@rusty-cy2bv]

Clear and concise as always! Thank you for you time and effort, keep em coming.

[@thecoinknowledge]

Thanks, glad it's useful!

[@GD-sm5nz]

I have only one suggestion to make: leave!

[@garrygrant2394]

Left over 15 years ago. Back to visit the family. Want to leave after one week. The UK is nothing like it once was.

[@GD-sm5nz]

@@garrygrant2394 Can I ask where are you based now (continent)? Thx

[@garrygrant2394]

@@GD-sm5nz Asia. HK and SG

[@gheata4706]

UK is lost. Get out while you still can. I'm so sorry for the citizens there. So many freedoms were taken away.

[@Overtone-1]

Don’t be sorry. You just need to know what you are doing here. Still lots of opportunities.

[@chefandrejus8809]

UK Gov delays clarity on Staking, yelds etc. Many companies left UK or avoiding doing business here at all... shame. Thanks for great update! Looking forward for more your videos

[@Light_Painter]

Either become a digital resident of another friendly country or use an exchange such as WEEX with no KYC. The CGT this gov has imposed is outrageous. This gov will be gone next time around. Never to return. I say vote all local Labour councillors out of office next May as a start.

[@wolfypics7339]

Weex is brilliant and certainly i will always keep everything away from the leeches in power in this country

[@AGC-d8j]

Doesn’t work. You’ll still be deemed uk resident under automatic overseas test, even by sufficient ties test. Only possible way I can think of is using aave to take a loan against your crypto and cash the loan money out

[@imconfused1237]

The CGT increase has been tiny mate.

[@thepecha7]

@@imconfused1237you are confused, 80% is a large increase

[@bart6754]

@@AGC-d8jbut you would need to pay the loan back at some point? I’d appreciate if you could explain your idea in a bit more details. Thanks!

[@TheSherchel]

Plain explanation of what's going on in UK regulations. Thanks

[@andrewt3162aa]

The only thing on my mind is to get out of the UK before it's too late. UAE with 0%

[@Len_J_]

Same

[@TheTruth-im8oq]

Yep I’m looking at the same thing !!! Outta here fuck these lot!!!! Love the country but cant be dealing with these donut leadership

[@xperyskop2475]

IOM 0% capital gains tax 0% corporation tax 0% insurance tax . When I make it big I go there

[@Len_J_]

@@xperyskop2475 IOM?

[@GlynTaylor]

Brexit has made it incredibly difficult unless you have £500k ready to invest in property

[@ForestGoblinJo]

Really enforces the phrase not your keys not your coins.

[@merv893]

Let face it the uk has not much outside finance, it needs crypto.

[@Dynomique]

Try telling labour that! They don't care who they ruin along the way in their power heads, just says it all on how they are trying to ruin farmers livelihoods and agriculture is a big big part of our country, they are trying to overtax everything that makes people money, i think the general public should go on a government tax strike, they can't arrest everybody and it would certainly send a clear message to not mess with us!

[@james-br2gm]

The UK is too cautious. Look at the US and how they're taking action to be the global leader. Fortune favours the bold.

[@philipsherwin4845]

Waiting for starmer to say “holding crypto is illegal “

[@Light_Painter]

While holding bitcoin!

[@antonioantonio9162]

😂

[@antonioantonio9162]

He won t,he s not nuts!

[@antonioantonio9162]

0 tax like in US should be here as well!

[@LetsGrowSouth]

Arrest me. It’ll be worth more when I get out

[@ittanbantan]

The UK is backward slow and antiquated.

[@hobbowizardanimations]

Thus is actually useful and objective information thank you ❤

[@consciousnessrising9828]

Thanks so much. That was really interesting.

[@thecoinknowledge]

Glad it was helpful!

[@Gius3pp3K]

If our politicians realised the value of Crypto, they would heavily invest in Bitcoin and reduce our debt. Our country has been living in the stone age for too long. Organisations like the FCA are no longer fit for purpose. I remember years ago trying to stock trade. But many of the trading applications that I wanted weren’t available in this country.

[@HendrixT42]

It’s so clear just how little the government understand crypto. Makes me think paying CGT is a waste of time. As if they have the knowledge to track addresses etc

[@metageist666]

True, but AI will make it a lot easier to track back through all transactions across chains soon though.

[@HendrixT42]

@@metageist666 good point, didn’t think of that. Maybe Monero is still the best bet…

[@wolfypics7339]

The government are clueless they are just interested in taking money we rightfully earn because they want control over us again like in RL

[@imconfused1237]

@@HendrixT42 You’re also showing how little you understand about HMRC. With regards to submitting a tax return, the onus is always on YOU - not them - to provide an acceptable audit trail. You are of course at liberty to deem paying tax a “waste of time” however ignorance is no deference and HMRC punitively penalises evaders. I’m not saying your chances are slim, but I am yet to meet anyone who has defeated HMRC in court.

[@FabienneDöring-y1j]

I came across your channel through this video- case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[@Sarine_Turhede]

You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.

[@JanSchulte-j6o]

That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.

[@LeviLeonhardt]

I'm a newbie talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 10Ok to test the waters now that large cap stocks are at a discount

[@ShoelessNomadThailand]

I have a HL UK SIPP. I had no way to get exposure to BTC ETF. Until I found out I could invest in MSTR through my HL SIPP. result up 666% year to date. FTSE 250 over the last five year has 0% growth. The UK needs to wake. The UK Government wants us to fight each other. Rather than making us rich. Now retired trading online living the dream. I swing trade ETFs PA, PA, SI, oil and NG.

[@njuham]

Yep, MSTR is a bit of a lifesaver for us in the UK not being able to by Blackrock's btc etf. And buying actual bitcoin in size could get the bank account closed.

[@ShoelessNomadThailand]

@njuham I first purchased xrp 7 years ago. The bank suspended my account. So glad the family and I left the UK.

[@jamesnelson2279]

Where did you move to?​@ShoelessNomadThailand

[@PaulWK1972]

MSTR has been great for UK investors, but the point is that we shouldn't have to resort to it because of being blocked from bitcoin ETNs - which are actually are available in the UK to the elites. MSTR is also at least twice as volatile as BTC which is good on the up side but not so much on the down side.

[@ShoelessNomadThailand]

@@PaulWK1972 I can always take the downside. Being an unemotional trader. When you are in long. You can only lose if you close the position lower than you entered. Happy trading

[@vthelastrun3290]

You the gold thanks mate

[@peterlavington9261]

Just found your site. Thanks. As a btc holder who is running into many problems trying to buy property, your info is veery useful.

[@newagetemplar6100]

Any particular problems buying property? That was my plan too in say 18 months. Uk

[@Andy-si1pl]

@@newagetemplar6100 I am just curious. Are you guys trying to buy property cash down using realised BTC funds?

[@rafaelbettencourt1328]

Not paying a dime to these corrupt thieves.

[@wowwowwow185]

should be allow to buy in an ISA like normal shares

[@musyclover]

Love your vids Bro. Keep it simple and keep up the great work ☃️

[@thecoinknowledge]

Thanks, glad they're useful!

[@AdeMcBain]

Thanks for you're content.

[@thecoinknowledge]

My pleasure!

[@PenfoldsCorner]

When they show me proof that tax is an actual law and not a bill I'll consider paying it! Till then it goes into trust

[@duncanbailey1]

Thanks Jay, great info

[@thecoinknowledge]

Thanks, glad it was useful!

[@JamesJahmel]

I'm surprised this name is mentioned here, I came across a testimonial from one of your clients on the CNN news last week.

[@lily54ever]

As always very useful content!

[@thecoinknowledge]

Thanks, glad it was useful!

[@rorster36]

UK will just follow the USA can you imagine the brain/talent drain if the uk does capital gains tax on BTC and the USA and other countries make it tax free !!! The UK will be way behind in the blockchain industry ! Im already on my way out bought a house and got my VISA .Starmer said the door is open so i have stepped through it 👍

[@kennymcalpine8970]

"Remains at the forefront of digital asset innovation" Said Lord Ponceboy , made me laugh .."remains" LOL . Thanks as always for the news summary concerning the UK , nice one

[@rcary]

So, i live here in the UK. I moved here in 2019. I dont work, but i have a tenancy, bank account and assets here. Im moving back to the states next year and then perhaps Thailand. I have dual citizenship US/UK. When i withdraw my crypto assets in a year or 2 or more, will the UK want a bite out of my earnings? And how can i avoid the criminal Labour government getting their hands on it?

[@gibbs677bg]

We have a Stuck Farmer issue we need to fix first.

[@dpriggers]

FCA sounds like the SEC!

[@etclizen8937]

Excellent content as usual 👍

[@thecoinknowledge]

Much appreciated!

[@zogheed2657]

Sadly I think by the time we adopt crypto the rest of the world will have been on that train for years and investment will have gone elsewhere. Love or hate the mix of Trump and Musk its gonna light the fuse for crypto there.

[@AtticusDenzil]

it's a 3rd world shithole right now

[@thecoinknowledge]

My next video is actually going to be on the US looking at examples of how Trump is likely setting it up to be very bullish for crypto

[@iah1]

Useful info thx.

[@Andy-si1pl]

How did I never know about this channel!

[@thecoinknowledge]

Welcome!

[@jimih8539]

Really pleased I’ve stumbled across your channel 👍 I’m in the UK and have a lot of crypto assets, I obviously need the best guidance I can get before I think about removing it off all the exchanges I use 🙏

[@SusanJohnson-y9q]

I have a lot of crypto as well, unsure of what way to go about getting it out, and where to put it, the UK governmemt makes it difficult, except when they want something out of it, then it's simple pay tax on it

[@garygrant1641]

Thanks 😊

[@enterthehacker]

Key point 'under the right leadership' Leave while you are still allowed to. Message ends.

[@revjack1529]

Thank you!

[@lightend100]

Yes, (sarcastic voice) because regulations have always helped any sector thrive

[@CryptoBoon]

Great update 🔥👍🏻

[@thecoinknowledge]

Thanks 👍

[@iansgalaxy]

Do they have any plans????? 😂😂😂😂😂😂 This is some interesting stuff in this video, thank you.

[@dallyuk]

no way rachel reeves came up with that herself (digital gilt- been moaning for ages gilts are too hard for retail to buy). mate this government SUUUUUCCCKKKKS

[@aries6776]

It does suck, because they aren't even coming up with new ideas but just regurgitating the anti-crypto policies of the last conservative government.

[@AtticusDenzil]

they do suck, it's their hobby

[@ClotEastwood]

They just do as they are told

[@SuperLippy69]

How can we as a UK resident avoid paying capital gains on our crypto? Is there a way?

[@qandrewq5708]

No. Well, not legally. You need to become tax resident elsewhere for at least 4 years plus the remainder of the current tax year.

[@KevinPaxomnium]

Don’t cash in, emigrate and don’t return for five years! That’s the UK for you, if you succeed, and make enough money to be free you’re not welcome here. They say at the least, that they want you working, here, paying PAYE income tax, National Insurance, employers National Insurance contributions, ideally vehicle tax, petrol taxes, VAT on car repairs, plus everything else. In short you’re a cash cow, Government property, and ‘something’ they’ve mortgaged to the hilt. It might be best to become a digital nomad.

[@psyismylife]

Invest in companies holding masses of bitcoin through an isa. Or buy bitcoin, cold store and don't sell.

[@erhan.destan]

Or buy a house abroad, get a residence permit, open a bank there and a crypto exchange account, move assets in to that account, sorted 😂

[@pauletteanglin888]

There are no taxes on ISO coins.

[@jamiemoore8783]

what are we paying such high taxes in the uk for? A amazing healthcare system? A great education system? A clean and safe country? Show me where my money is being well spent and il happily pay my tax. If your just going to throw it away on foreign aid and migrant hotels forget it!

[@SundresGavindasamy]

I just withdrew my profits a week ago. To be honest, it was an incredible feeling when the profits entered my wallet. I wish I could reinvest, but too many bills.

[@dragon212008]

Thanks mate, appreciated the update.

[@thecoinknowledge]

Thanks, glad it was useful

[@jugjones3210]

Hi James. Great video my friend. Could you find out more in regards to how the (crypto as property) will work. Thanks and keep up the fantastic information 👍🏻👍🏻

[@65dibs]

Our politicians are all talk

[@scott22031]

Could you do a video on how to pay crypto tax a walkthrough

[@antonioantonio9162]

0% tax like in US!

[@TheRelaxationPod33]

Will they find out if kept in cold wallet?

[@markames6030]

Shes islamic, i hope her religion doesn't play apart in her decision making with crypto. Its considered haram by many muslims.

[@billybob3279]

That's not true. Plus she is prob corrupt as she's the neice of the recently ousted bangladeshi priminister who was corrupted as they come. She's far from islamic.

[@wolfypics7339]

These people are put in these positions not because of their knowledge but because of the race and gender as tick box exercises to make our woke and snowflake infested country look good on paper thats all.

[@donking3951]

It’s not haram crypto is fine many Muslim Hold it UAE know about it and invest init

[@gofiodetrigo8756]

leadership and a plug

[@michaelbailey2476]

Just keep good records of every transaction. Its simple enough but I do agree with many of the comments here. The UKs closed mind goes back centuries.

[@redrubix7479]

Great video very useful

[@thecoinknowledge]

Thanks, glad it was helpful!

[@richukny]

I use BitGet in the UK. Does the November announcement mean leveraged futures positions are allowed in the UK again too then?

[@gordonmcculloch7450]

It makes me sick to the core how backward the UK is on crypto. All these other people in the world making good money and we are left behind by these jack asses in the FCA.

[@jamesrobinson5450]

You never mentioned the cap gains.?

[@thecoinknowledge]

I did a video on that previously as part of the outcomes from the Autumn Budget and did briefly mention the CGT increases in the intro here

[@abdulmajid8888]

Cover the exchanges we can use in the UK and offboarding and binance

[@Tuborgsefu]

I am investing money which I have paid tax already. It’s my risk and if I lose, the government is not going to help in any way. How is this tax justified?

[@bye-72]

So does this mean blockchain will have to give me my password, that Ive forgot. 😂

[@thomask2945]

Labour doesn't even know what crypto is!!!!!!!!!

[@leemckerrow1986]

Whats happening with paypal its taken almost a year now to sort out uk regulations to buy crypto and still no news

[@Dtp2296]

Just leave, there is nothing in the UK worth staying for. I'm English born and bred but hate the country it has become

[@Ellen-z9n]

you will get more money from elizzarda than bitcoin)

[@alphajoint]

I really dont see the problem with being taxed, especially when i hope to make a decent amount from my holdings, remember this money is used for public services, infrastructure, etc something that the last government have decimated over their 14 years, and with what was the highest tax burden since the war....

[@imconfused1237]

A lot of it boils down to greed. I have some very wealthy friends and thankfully, the greedy are the few. But they are the noisiest and stand out like a mile, forever talking about nothing but money. It is all that defines them and what they obsess over; no depth to them or interest in anything else. They genuinely don’t realise just how boring their opinions are.

[@KhalScott24]

Because your already been taxed on the money you're using in the form of income tax and national insurance. And the things you buy with your profits on the form of VAT. As well as the profit from property. Etc etc. Anyone who is OK with being taxed on investment profits is a cuck

[@suffiice]

But it isnt used for any of this, it just lines the pockets of the elite. Governments cannot be trusted with public money

[@SB-mb1ob]

I find people who say I don’t mind paying tax, are actually the people that don’t pay tax. They love other people paying tax to pay for the free services they use; they use free education, free NHS, free prescriptions, take benefits, and spout that tax is not so bad.

[@SB-mb1ob]

@@imconfused1237friends you say?

[@demigeek]

sadly on the crypto hub, we've missed the boat.. US is going to take over.

[@420racer7]

Hi , have you got any ideas of what exchange I can use in the UK as all the leading ones I can't get my money onto the exchange to buy crypto

[@drcas9994]

You can use Revolut - link to your bank debit card - upload £££. Use it buy your crypto - they have about 120 tokens so some choice for the UK residents.

[@rrtom3852]

Have you tried Kraken?

[@suffiice]

revolut offer purchase through banking app

[@DigiHack]

Nexo is the best

[@DigiHack]

Buy through monzo or revolut linking ur card

[@Overtone-1]

Can you invest in crypto somewhere else to avoid paying these ridiculous taxes?

[@imeldadiaz4164]

When will Binance allow us to cash out again?

[@aries6776]

I cash out every day from Binance.... yes I'm UK based. Not sure what you mean?

[@AtticusDenzil]

@@aries6776 UK restrictions for newer binance users is what he means get your head out of your aerse

[@azzcoulton123]

@@aries6776do you know if it’s tracked by gov?

[@imthiyasimthi8218]

@@aries6776Hey, do you think it won’t be able to cash out in future in the UK ? I am UK based as well but first time trying. Thanks in advance

[@michaeljr348]

How? Can’t do it in over a year. Neither deposit or cash out.

[@jayonenote7527]

Whats happening with Binance in the UK?

[@Memee833]

Do you know if hmrc will get in touch with people, & send them correct a bill for crypto taxes. If they people don't send in there form's... Thanks in advance for the reply.

[@AmbiAnts589]

I've read stories of people only having problems with hmrc after filing tax returns. They go through it, find errors and give out fines. End of the day that's your money and they want to take it from you. Don't offer it to them first let them come beg for it.

[@LetsGrowSouth]

Keep it offshore. Sorted.

[@TurdyFla]

Tulip mania in UK crypto.

[@TwelveTribes90s]

Quick question, if I was to cash out hundreds of thousands in crypto this bull run 2025, will I have any problems cashing out massive amounts like that to my NatWest?, over the years I’ve been using it, everything has been smooth, but I’ve never cashed out anything above 4k

[@KevinPaxomnium]

Very good chance the answers yes. Try Revolut. So far they’ve been very good.

[@Deathugee]

Subject to capital gains tax i think. Get an accountant.

[@pauletteanglin888]

I think you'll find there's a limit, on every exchange if what you can cash out per week, or per month. This is why people join many exchanges.

[@qandrewq5708]

@@TwelveTribes90s The bank will report every transaction over £5K to the tax man.

[@julianwilton6997]

Contact the bank before hand, the bank manager. Let them know in advance. Try cashing out that amount all at once, an instant block or freeze maybe put on your account The money probably won't go through and you'll have to contact the bank to unblock or unfreeze your account and explain to them where all the money has come from.

[@martinizvorov]

UK is shit at the moment. 75% tax on money, and they still cant figure out whats hapening. I am leaving in 2 weeks and never go back.

[@demigeek]

I don't agree with Capital Gains tax, however it is what it is. I do detest why I have to pay income tax on my staking rewards Considering I stake to help secure the blockchain totally different to staking any token that serves no purpose other than to earn yield though defi.