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Showing 8 of 8 results by fovofopawuco
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Board Legal
Re: Crypto, taxes and regulations?
by
fovofopawuco
on 08/07/2021, 11:05:49 UTC
Quote from: Cryptoshops on June 09, 2021, 08:58:02 AM
Because Crypto is linked to Fiat and most people exchange Crypto for Fiat,   governments will always impose regulations on it. Here in the UK if I exchange  Crypto for Fiat it is taxable If I exchange amounts which go over £12,300 I have to pay capital gains. From the Government website  "Anyone in the UK who holds crypto assets as a personal investment will be taxed on any profits made on these assets. Saying that you only have to pay capital gains tax on overall gains above the annual exempt amount. ... According to HMRC, the capital losses from cryptocurrency can be considered for the tax liability"  So Crypto is not as anonymous and free from government interference as people like to think if you are exchanging for Fiat.

In the UK, is tax only chargeable once it is exchanged for fiat. Is there currently any tax on sending/receiving crypto at the moment?
Post
Topic
Board Gambling
Re: 1XBIT.COM ᐉ Bet online ᐉ BTC Betting ᐉ Best odds
by
fovofopawuco
on 16/05/2021, 19:53:18 UTC
What kind of bets have people been placing when they get scammed?

Is it on sports betting or casino?

Seems very bizarre that they can have so many customers if they just scam them after bets on champions league or roulette....
Post
Topic
Board Legal
Re: Profits from gambling with crypto (UK tax question)
by
fovofopawuco
on 11/04/2021, 20:08:42 UTC
To clarify, all profits from currency that is converted from btc to gbp (in my case), is taxable in that financial year.

what happens for the btc that I have received from transactions?

Post
Topic
Board Legal
Re: Profits from gambling with crypto (UK tax question)
by
fovofopawuco
on 10/04/2021, 15:20:19 UTC
So would clear documentation of my bets, showing a profit be enough to show HMRC (assuming the betting websites are regulated)??
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Topic
Board Legal
Topic OP
Profits from gambling with crypto (UK tax question)
by
fovofopawuco
on 10/04/2021, 12:43:05 UTC
Hi All,

I have been profitable in sports betting on crypto websites. In the UK, gambling is tax-free, but crypto profits are not. Where do I stand with HMRC?

Obviously my withdrawals from my crypto wallet are higher than my deposits (indicating profits), but these profits are mostly from gambling except for the increases in my various crypto.

If I keep detailed reports of my sports betting winnings am I covered in terms of not being taxed, or is this more complex than that?

Thanks
Post
Topic
Board Gambling
Re: 1XBIT.COM ᐉ Bet online ᐉ BTC Betting ᐉ Best odds
by
fovofopawuco
on 10/04/2021, 11:22:10 UTC
Quote from: fovofopawuco on April 04, 2021, 04:49:20 PM
My account has been closed.

Account number is 280805877.

I have around 25mBTC in there, and to my memory had only placed one bet which was voided.

Can I get a refund of my deposit?

any update on this??
Post
Topic
Board Gambling
Re: 1XBIT.COM ᐉ Bet online ᐉ BTC Betting ᐉ Best odds
by
fovofopawuco
on 04/04/2021, 16:49:20 UTC
My accounts has been closed.

Account number is 280805877.

I have around 25mBTC in there, and to my memory had only placed one bet which was voided.

Can I get a refund of my deposit?
Post
Topic
Board Gambling
Re: BETOP.GG - Sports & eSports betting |Great Odds|125% bonus|10% Cashback|Cashout|
by
fovofopawuco
on 04/04/2021, 16:35:44 UTC
Has anyone experienced any issues withdrawing from this betting site?

Also, do they ask for any KYC documents when registering or when withdrawing?