Post
Topic
Board Bitcoin Discussion
Re: Cryptocurrency profits and tax in the UK?
by
HabBear
on 16/12/2017, 20:06:40 UTC
Wow, great research! We need to do this for other major countries!

You don't have to pay tax on it if it increases in value and you just hold it in crypto

Do you have to pay tax if you exchange Bitcoin for Ethereum (for example)? The funds are still in crypto but they've been traded for a different crypto.

So you could in theory sell £19,800 with of Bitcoin every year and only pay £850 in CGT

This is incredible!


You probably have to pay tax based on the value of the car.

It's more interesting if you buy a Britannia gold coin. There is no VAT or CGT on that, and it has a nominal value of £100, but you will probably have to pay around £1,000 for one.
https://www.royalmintbullion.com/Products/Britannia/Gold/UKB18GOS

Would the tax be part of the final sales price for the car? So you don't incur some additional tax liability because you're choosing to pay for the car with crypto.