Taxes Season


#1

How are you all preparing for Tax Season? It’s Just around the corner.
:ada:


#2

You only pay taxes in the Uk on profit is that correct? … and that only becomes a reality when you withdraw cash?

A tax specialist would be handy.


Buying from Limited Company
#3

Not a tax specialist, but I believe that is correct, for the UK.

As I understand it, even selling and then buying back the same instrument within 30 days does not count as gain/loss. (The Bed and Breakfasting Rule)

Again, I am not qualified.


Buying from Limited Company
#4

Just logged in, I run my own accountancy in the UK and you only pay capital gains on the profits or losses once you cash in the fiat. You don’t have to declare if you reinvest to something else.

I also do tax returns for payment in Crypto


#5

well, that doesn’t help me in the EEUU. People are saying every transaction is taxable. others are saying different.

I haven’t traded since December 31st, which actually turned out great for my portfolio.