Have you made money on Bitcoin and are wondering what your UK tax liability is? Or do you think the government can’t tax cryptocurrency in the UK? Let’s take a look.
Bitcoin is new but the UK tax system is not. Rishi is targeting Cryptocurrency for tax requesting that the biggest exchanges share info of customers who have more than £5,000 in Cryptocurrency for tax purposes. Understand what the rules are so you don’t accidently not pay the correct levels of tax on your crypto.
Today we cover:
Tax on Crypto in the UK
Tax on mining coins
Tax on Investing in cryptocurrency in the UK
Ways to not pay tax on your bitcoin or other crypto assets.
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🕑 Timestamps:
00:00 – Trying saying that first time.
00:26 – What goes up..
01:05 – Rishi’s dilema
04:11 – Crypto Miners
05:10 – Crypto Investors and traders.
08:50 – How I look at it all.
09:56 – Just a heads up.
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📚 5 books to shape your financial future:
Either click the link for the book or use this link for a free trial on audible and then you can just listen to them all!
The richest man in Babylon:
An engaging tale that teaches the fundamentals of saving and attitudes you should have towards money. I listen to this at least once per year.
A random walk down Wall Street:
Let Burton Gordon Malkiel, explain everything you need to know about trying to beat the market.
Rich dad poor dad:
There is a reason this features on all lists of the best books. You will walk away from this truly understanding the importance of income producing assets.
The Millionaire next door:
I love this book because it destroys the conventional perception that all millionaires are one type of person. Read this and you will so realise being a millionaire is well within your grasp!
The 4 hour work week: This is the book that inspired me to build multiple income streams.
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Disclaimer: Any information provided in this video is meant purely for entertainment purposes and does not constitute any form of recommendation, They are simply my opinions. If you want financial advice tailored to your circumstances please consult with a licensed professional.