Quote from: HabBear on December 16, 2017, 08:06:40 PM

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.

I don't think you have to pay any tax if you trade one cryptocurrency for another

Quote from: unbeaten on December 16, 2017, 07:36:22 PM

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

Quote from: HabBear on December 16, 2017, 08:06:40 PM

This is incredible!

Yeah definitely! I have been to see three different accountants in the UK and two of them had never heard of cryptocurrencies and one of them had heard of it but didn't know the tax implications of it. If you don't declare the capital gains tax and get caught it could cost you much more than it would if you had just paid the tax, so more research is needed.

Just need to understand the tax implications of buying things direct with Bitcoin, if you can legally avoid converting to GBP and can avoid paying CGT it is definitely worth doing. Just can't find anyone who knows the answer for sure.