the video and other forum posts are all if's and maybe's .

PLEASE would you all just phone up HMRC. the phone call is not expensive and their customer service reps are not cops or dictators that will chew your head off.

i see soo many people mention if's or maybe's but they have all never actually contacted HMRC.

so here it is.
HMRC will only tax you when you transfer your bitcoins into pound coins. and its taxed just like any other income. so if you withdraw £20k then that is your income. combine it with all your other income and work out the tax.

its that simple.

and to reply to other posts on other threads i will repeat what i said there.

bitcoin is not a commodity.
a commodity is a raw material used to create other materials/products

bitcoin is not a share
a share is a percentage of a company

bitcoin is not a stock
stock is the holdings of a company

bitcoin IS an asset
much like a car, artwork, personal possessions.

when it comes to certain situations such as purchasing something on a retail website, the VAT and merchant tax stuff is treated much like digital tokens.. or as we brits call them, gift vouchers. (prepaid value) which when the merchant accepts it, its treated just like money although merchants have a separate code for prepaid gift vouchers. at the end result it is corporation tax (business income tax)

but for non business use/investors cashing out, its standard personal income tax

if in any doubt, dont argue about it on forums or think that you have a different opinion that has not been verified by HMRC. instead just call them, i promise you, they wont bite your head off.