Avoid UK Crypto Taxes Legally: Secrets HMRC Doesn’t Want You to Know!

[@rafaelbettencourt1328]

Not paying a dime to these corrupt idiots, it's a risk investment if I were to lose it this crooks wouldn't pay me a penny I already paid tax on the money I used to invest.

[@lampey6198]

Agreed! You can gift your crypto to friends and family members to avoid tax, as long as it's under 3 grand and they don't have any additional income on top of their wage then they can take the crypto out for you, give them a set fee for doing this and then keep the rest tax free.

[@JKM110]

Facts

[@SPS_survivor]

the uk government make it so hard to buy/trade crypto, but very happy to take your tax - joke!! cheers Charlie

[@M0DB0Y]

Not true. The FCA banking cartel make tax calculations difficult. Work out your income tax and only withdraw funds up to your personal allowance. The banks and their regulator might hoodwink HMRC into thinking there are capital gains to pay for swapping between crypto but that is a lie, so long as you record the balances you and record correct capital gains and accounting in the following tax year. You likely do not have tax to pay. The UK does not tax losses. HMRC are not there to rip you off the banks do that. A lot of your crypto will have dropped 99% (on their 4 year cycles). Just keep everything on a spreadsheet.

[@thelionzmusic]

The biggest question is, why would you pay tax on money you don’t have. If I make £100,000 on bitcoin, and sell to a stablecoin/eth or whatever, I don’t physically have the GBP in my bank account but I’m still liable for CGT. Absolute madness. HMRC can come and get it.

[@jwright4222]

Even worse. 100k profit on bitcoin then you transfer to another coin, if that rugs and goes to zero. You still owe CGT on your bitcoin "profit" . The system is a complete scam, it's why we buy bitcoin though.

[@malachix780]

You can offset with losses ​@@jwright4222

[@northwestcoast]

The allowance was kind of fair at £12k 10% but now £3k 18%? Come on, that’s mental

[@stephencole9289]

I would broadly agree with you in that you havent really realized a gain into real money yet. But from HMRC perspective its like if you 'swapped' shares in one company for shares in another. You cant do that directly. You have to cash out the first set of shares (realizing a gain) and then use those funds to buy the new shares. The only 'good' aspect is it resets the base cost to what you bought the new shares at, and so further gains calculate from that (as do losses).

[@MikePhillips-pl6ov]

But they will come and get it. I think the best advice is here in this video. When I'm ready to sell my crypto I probably won't need it all in one go, so will stagger it over more than one UK tax year to keep within the CGT limit, and declare it as such in my annual self assessment.

[@warby1814]

Tip number 8: leave for a bet country

[@sullya6967]

Been my plan for a while but I'd love to hear what that better country is

[@Biancastephen0]

How do most of you guys still balance life, even with the downturn of the economy and ever increasing life standards

[@britney_david]

Well, I picked the challenges to put my finances in order. Then i invested in stocks and Digitals marketing through the assistance of the discretionary fund manager.

[@britney_david]

Having a discussion with financial advisors is highly recommended for adjusting your portfolio.

[@britney_david]

Ms. Annabelle Hartfield is really a good investment advisor. I was privileged to attend some of her seminars. That's how i started and it has been a good run of both knowledge and trade. I recommend.

[@Martinezrodi]

Annabelle's trading service are unparalleled. She has a keen eye for spotting opportunities and her timely advice has saved me from making costly mistakes. Her dedication to her clients is evident, and I feel incredibly lucky to have her as my trading mentor. Highly recommended!

[@ChristopherFrank01]

Annabelle is a phenomenal trading coach! Her insights into market movements are spot on, and she has a knack for teaching complex concept in a digestible way. Thanks to her, I've not only increased my profits but also developed a deeper understanding of trading strategies.

[@sf2942]

I will be flying out to a hot country .sod the tax bill

[@bigdaz7272]

Best tip is don't spend your Crypto until you leave these Wretched Isles :)

[@meteb1100]

What isnt mentioned is the SIPP is stil taxed once you start drawing it. Another thing not mentioned is you can offset CGT by placing your taxed profits into a VCT. You get 30/15% relief on your income tax if profits are placed in non-AIM or AIM portfolios for the 1st year placed in a vct. EG: You place 100k into a non-AIM vct, you get 30k off your PAYE liability. 2 year holding period applies but you are not taxed on any gains or dividends in the VCT. Give people some more effective tax mitigation tools instead of giving them the freely available information which is already out there!

[@layhingsiu-munro8810]

Where can you get loans with your bitcoin holdings?

[@sbslipknot1]

Informative 🤝🏼

[@spiritsigma7]

Use your crypto as collateral for a loan seems the best way.

[@dharmasworld]

I think most people would watch this video expecting to see methods by, as you said, paying no tax on your crypto sales. But you didn't offer that information. Granted the methods you've mentioned help reduce capital gains tax bills but they dont offer a way to pay no tax on larger sales of crypto for personal use. if I want to realise £10,000 of gains is there actually a method by which to pay no tax? Presumably some sort of off-shore setup

[@JivanPal]

No, there is not. This is a video on tax planning/remuneration, not a video on structuring, which is illegal.

[@garethcurtis9354]

No, there isn't. The only way you can avoid it is to basically unregistered yourself from HMRC, and you need to effectively stay out of the UK for a total of 5 years. Otherwise, they can backdate the tax. 5 years is the magic number.

[@epicgtr3614]

The only way to avoid cgt is to leverage it. Borrow against it.

[@Handler9985]

​@@epicgtr3614 What if you give it away say to someone in a tax free zone? And you take no profit from it, but they change it over to their currency and send it to their banks

[@gavinbrooks2178]

How much is the software

[@Kimberley-n4i]

You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k 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

[@JamesWilliams-o8d]

Well explain thank you for bringing up this video Financial education is indeed required for more than 80% of the society in the country as very few are literate on the subject. The value of the US🇺🇸dollar is declining due to inflation, but it is increasing in comparison to other currencies and commodities such as gold and real estate. I'm worried that rising inflation will cause my 550k in my retirement funds to lose value, But with the help of Mrs Maria I hit 220k this week from my investment of 45k, I am truly grateful for all the knowledge and nuggets you have given me over the past few months.

[@Michael-e9h7v]

Mrs Elaine program is widely available online..❤

[@NancyMiller949]

How ..? Am a newbie in crypto investment, please can you guide me through on how you made profit?

[@caige-c5w]

I'm glad to write her tay I do hope she will help handle my paycheck properly

[@caige-c5w]

Can I start with as low as $1000

[@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.

[@JanSchulte-j6o]

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.

[@LeviLeonhardt]

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.

[@mikejohn-r1i]

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

[@HansMüller-u8i]

MissCrypto was my hope during the 'bear summer last year . I did so many mistakes but also learned so much from it

[@AndreasBaese-m5y]

MissCrypto was my hope during the 'bear summer last year . I did so many mistakes but also learned so much from it

[@davetherave4328]

very handy video ,short ,sharpe ,informative and to the point .....one of the most helpfull videos I have seen on this subject that did'nt drain my time. Top work keep those videos coming 5-7 minutes is the sweet spot for people with busy lives.

[@coinledger]

Thanks for the kind words!

[@JonHummel-q4g]

3000 pounds lol what a rip off no wonder people are leaving. This country is becoming a laughing stock. Everyone attracting business whilst the only thing we are attracting is unskilled free loaders.

[@earthlingkat2124]

Yes with mass legal and illegal migration which we, the taxpayer have fund! Criminal.

[@ManieTorp]

Impressive content! How will Step Finance grow its user base?

[@raymondgill9796]

You missed out Microstrategy MSTR. This can be held in a SIPP or an ISA.

[@Rob........811]

Please don't, that will be the largest financial disaster every, it's a ponzi bubble waiting to explode

[@ZackaryCreasey]

Thank you for posting! Hoping for some guidance: My Tron Wallet holds some Tether USDT, and I possess the seed phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how should I proceed with transferring them to OKX Exchange?

[@zaniadee]

I'm no psychic but if cryptos rocket, I see a mass exit of the UK. Last one turn the light off....oh silly me, we can't afford lights. Take your torch with you! 😁

[@Cee_H]

You're assuming everyone in the UK is heavily invested into crypto and everyone is about to make millions 😑

[@daiwatson4514]

But how to do you cash out when you leave? You can't simply turn up in Portugal, open a bank account and cash out. The banks want to see the paper trail of where the crypto came from, anti money laundering rules. If you can't prove it's not laundered they wont play ball. If it's less than 5 years since you left the UK then hmrc may come after you. Its a dilemma I hope to face one day

[@masonman1]

the whole idea behind bitcoin is privacy, decentralization and peer to peer. Absolutely no need for HMRC to have their grubby paws over it.

[@pnandhra2008]

Thank you for this video. A question about leverage trading. This is taken from Koinly: Spread betting in the UK is controversial to say the least. It's the reason thousands of crypto exchanges have been banned from operating in the UK as they won't remove derivative products like Bitcoin futures or agree to be regulated by the FCA. Spread betting in the UK is considered gambling - like speculation - which means it isn't subject to Capital Gains Tax. For private investors in the UK, this means you won't pay Capital Gains Tax on spread bets. This is, however, a bit of a legal grey area. The FCA has banned crypto derivatives products without written consent from the FCA. So you should speak to a crypto tax advisor for more bespoke advice on these investments. What do you advise if they have participated in leverage trading unknowingly that it appears to be banned on the UK. This has been done on Bitget with a VPN.

[@elijenkins3693]

Cheers for posting! Hoping for some help: My wallet on OKX holds some Tether USDT, and I possess the recovery phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How should I proceed with sending them to my Binance account?

[@ColinNiko]

what about the illegal ways also?

[@angussmith6825]

What happens if I bought 70% of my crypto in Australia and sell it in the UK.. can the uk tax you on crypto bought in another country?

[@digantagoswami9635]

Thanks for the video. I have question about sending the crypto to my wife to avoid the capital gains. Suppose for one of the coin I am making a profit of more than £3k and I send that coin with all the profit to my wife. Does her account shows the profit or it will be treated as no profit no loss?

[@WeShallOvercome_]

Do you mean when the asset achieves an unrealised gain, i.e. goes up in value by £3k? Unrealised gains are not taxable as there is no conversion/sale from one asset to another. A transfer to a spouse is no profit/ no loss on you, so nothing for you to report. However, you need to keep records, because if your spouse goes on to sell the asset at a later date, the market value at the date of the transfer is taken as the sale proceeds (i.e. the full market value at date of transfer is the original cost plus any gains in value), from which your spouse can then deduct gift relief (by applying for it from HMRC), leaving a base gain from which your spouse’s tax liability is then calculated.

[@M0DB0Y]

Pay income tax. Anyone that is not self employed or a professional trader has a personal tax allowance up to £12,570. Banks make it hard so that you get conned into their offshore tax avoidance schemes. If you make over £12,570 note that you probably have a portfolio of which these make up risk assets. The UK does not tax losses and you do no pay any capital gains until you withdraw cash and even then you can offset that against risk assets which are trading a loss. End of the day, you swap to a stable coin which is e money on the exchange and unless you cash it for real currency there is no capital gain. These are not regulated securities. There is no tax to pay. Think about it. How does an exchange or even HMRC (even if the exchange gives them your account information going to work out that you made a capital gain unless you actually withdraw funds)? Portfolios are up or they are down...

[@666xochi]

Wrong. Exchanging 1 crypto for another IS a taxable event.

[@meteb1100]

Tip they dont want you to know but are freely available on their website

[@gavinbrooks2178]

How much is the software please

[@coinledger]

Link to pricing: coinledger.io/pricing

[@FeltonPfingsten]

Thank you for publishing this! I need help: My Crypto Wallet contains some Tether USDT, and I have the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how to go about moving them to OKX Exchange?

[@martinsmith4943]

Correction, you HAD some Tether before you told everyone your backup phrase.

[@HettieHoeger]

Step Finance sounds like a game-changer. Any insights for beginners?

[@ArturoRuizHernández-v1q]

Thanks for the review! I have a quick question: I have a SafePal wallet with USDT and I have the recovery phrase. (acid festival rug search quick south rebuild choose hat behave merge panda). How can I transfer them to Binance?

[@johnthompson3530]

If you have a job, then decide to quit, do you pay less tax then when you sell your crypto?

[@DanielFeingold7995]

There are legal ways to avoid tax on crypto gains if you are an investor or a crypto trader.You need specialist tax advice, but you also need to be making £500k plus!

[@jrddoubleu514]

No taxation without representation. The yanks fought to be free of British tax theivery/corruption.

[@Rob........811]

That's all good advice but if anyone only profits £6k so they can use there allowance then they may as well give up. Also crypto loads aren't available in the UK So that basically means your paying 40% tax

[@jamois8373]

CGT is not £3000 it is £1000

[@corychristian824]

Appreciate it for publishing this! Looking for advice: My Safe Wallet has some Tether, and I possess the SEED: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I handle sending them to Bitget?

[@martinsmith4943]

Yet another stupid bot generated post

[@UkpeneBlessing-v9y]

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!!!🙏❤️❤️

[@AndrewMikel-js7qb]

I'm 37 and have been looking for ways to be successful, please how??

[@UkpeneBlessing-v9y]

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

[@UkpeneBlessing-v9y]

Elizabeth stark

[@kathyfrederick7172]

Same, I met Elizabeth stark last year for the first time at a conference in Wilshire, after then my Life has changed for good.God bless Elizabeth stark

[@chesterstanley8487]

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

[@Formally-known-Prince-Andrew]

Being able to access pension funds is going up to 60

[@jamilkhan8634]

Hi. Can anybody please tell me Binance under what name used to operate in the UK and what is their address?

[@pheas2708]

Come and get it

[@dcsniper1874]

This was posted by the Government so they can find you all 😂

[@escapethematrix5069]

If you buy a little hear and there, how can you work out the buy cost? What gives HMRC the right to tax you on crypto anyway? All tax is theft.

[@coinledger]

You are accruing various tax lots. Then you need to use a specific accounting method to account for which tax lots you sell when. Full details on how to do this in our UK crypto tax guide: coinledger.io/guides/crypto-tax-uk

[@ijustwanttoaskaquestion106]

The CGT rates changed on October 30th 2024, mid way through the tax year, that will make filling in the tax form tricky won't it? Does Coinledger software allow for these changes or do we need to buy 2 reports for 2024/2025?

[@coinledger]

You would just need one report -- which will report your capital gains!

[@ijustwanttoaskaquestion106]

@@coinledger I see, so 1 Coinledger report will be able to work out the CGT owed allowing for the single 3k allowance and change of rates from 10/18% to 18/24%?

[@HerrEngelsman]

How much does a report cost?

[@informer3000]

I'd rather know how to avoid DK tax !

[@jamil1985]

What doesn't make sense is bridge currencies like XRP that will be used for transactions by companies every day.... Are you telling me they will be taxed for every transaction!? This kills the TECH innovations! It doesn't make sense for certain crypto currencies to be taxed! 😮😮😮

[@plden2442]

It wont be taxed in future

[@martinsmith4943]

@@plden2442 The irony is the lengths that the SEC went to try and establish that retail XRP for retail holders was an investment, and they got told it is in fact a currency. Now the tax authorities are going to tax it as an investment anyway and ignore that it is actually a currency.

[@RobertGillontheinterweb1]

These tax idiots popping up now it's bullrun. Very easy to NOT pay tax . This is my 3rd crypto cycle and I have a high 6fig portfolio. I pay NO tax, NO cgt. Pay a smallish fee and setup an offshore bank account. Transfer into it from ur cold wallet, NEVER use a CEX.

[@RobertGillontheinterweb1]

@yahyadj Google crypto friendly offshore banks. One example of many is ultimopay. Fee to setup. Also keep ur crypto in a cold wallet, not on a cex or dex. Tangem is superb. U can move usdt/usdc/btc off Tangem directly to offshore where they, for a minimum fee, swop it to usd. I have account, card, and can use any UK cashpoint..all hidden from HMRC.

[@zackfitness4038]

What happen if don’t pay ? Will come to your house ?

[@londonkap]

Which country? Which brand cold wallet?

[@zackfitness4038]

@@londonkapEngland

[@manicmuns]

why are you still here? 😂

[@markcrabtree6793]

Any UK banks that allow to loan against crypto assets??

[@JivanPal]

@@markcrabtree6793 No.

[@hb4541]

Nexo does.

[@ruthharte6123]

@@hb4541 Didn't think Nexo was legal in the UK

[@JaqueZelupen]

Schönes Video! Nur eine Frage, die nicht zum Thema gehört. Ich habe eine USDT- und SafePal-Wallet mit Seed-Phrase. (sand input cricket valley crunch venture van frost issue foster twenty local)Wie kann ich Geld an Binance überweisen?

[@H-222-m]

Can’t buy crypto in many pensions

[@johnnybravo7490]

Live in Dubai or Thailand

[@kinocchio]

you can't invest in bitcoin ETFs in UK, yet.

[@beenflicker1]

Great I’ll give all mine to charity and then I have to pay no tax 🤔🤔

[@MegaCarlthomas]

If you really think you will get away without paying crypto taxes you are living in a dream world and you will find yourself in a world of pain

[@coolmonkey619]

I lost all my bitcoin in a boat trip i promise

[@Woody3704]

They can smd for as long as my stuff stays on-chain and isn't withdrawn into my bank account & if my overall net gains coming through said bank account are less than national taxable income. Plus Crypto, just like stocks, counts as a risk-investment for as long as, in crypto's case, it stays on-chain. Besides, why should I have to pay for something that they wouldn't even compensate me for if I were to lose it all anyway? Already got taxed on the shit I put into it in the first place. Multiple times; when the money got to the bank then when it reached the person paying me, then again when it reached me and again when I make any kind of move? Yeah, good joke lads.

[@markbennion8151]

you forgot to mention isa's.

[@JivanPal]

@@markbennion8151 There are currently no ISAs that offer the ability to hold cryptocurrency or cryptocurrency derivatives such as ETFs that track the price of any cryptocurrencies.

[@akasickform]

Could you please remove the subtitles If I wanted to read I could just use closed captions Thanks

[@JackMeadows6322]

Sell Bitcoin?

[@coinledger]

don't do it...

[@TheSurrealWolf]

Thank god i lost all that crypto money in 2021

[@martinsmith4943]

🤣

[@DJAMAJD]

Thanks for sharing exactly what’s already on the HMRC website 🤦‍♂️

[@coinledger]

No problem!

[@JivanPal]

@@coinledger Based response.

[@j99btc]

Wrong information regarding crypto and SIPP. You should check the facts beforehand

[@markhunter6789]

Garage video

[@womblestacker7993]

Move to dubai get rid of being a British citizen no tax simple

[@SusanShawn]

Venturing into stock market as a newbie was very difficult due to lack of experience which resulted in loosing funds.... But Mrs Rebecca Liao, restore my hope

[@JonesHarry-g3k]

Investment has proven to be incredible beneficial decision. My crypto currency profit continue to play a substantial role in growing my overall wealth. Is bless the day I met Mrs Rebecca Liao

[@BeverlyHarry-g3w]

From $37k to $45k that's the minimum range of profit return every week I think it's not a bad one for me, now I have enough to pay bills and take care of my family. Thanks to Mrs Rebecca Liao for her sincerity

[@GeorgeLarry-y8y]

Any specific guide. I'm from New Orleans how do I go about this? I think I am interested how can I get in touch with Mrs Rebecca Liao

[@Freddie-w6m]

Please who is this Mrs Rebecca Liao?

[@EmimiliaAndre]

Same here... Am a newbie and would love to be educated and mentored by this Mrs Rebecca Liao

[@ThomasKing-y3h]

I really appreciate your efforts! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@JivanPal]

@@ThomasKing-y3h Scam.

[@womblestacker7993]

Keep crypto for a year no tax

[@rampageashton]

I avoid ctypto tax by losing on every trade. Easy.

[@coinledger]

playing chess while we're playing checkers

[@rampageashton]

@coinledger you didn't like my joke.

[@billbo9761]

@@rampageashton you didn't understand theirs.

[@rampageashton]

@@billbo9761 I do

[@WalayatFamily]

click bait

[@Deepisusanti]

You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k 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

[@tashafr11]

As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.

[@JohnMathews-j9l]

Wow that's huge, how do you earn that much? I'm 37 years old and I've been looking for ways to be successful, please how??

[@RezaHenezzera]

Yeah, 253k from Maureen duke, looking up to acquire a new House, blessings.

[@AwojiGraey]

I thank Maureen Duke who has always been there to help me with detailed analysis and recommendations that I would not have had access to otherwise.

[@TracyMooney-d2z]

I started my trade int with $5000, and in the space of one month I got credited with $22,000. It remains my biggest win for the year 2024