Decoding the UK Government’s Crypto Reforms: Impact and Overview
April 24th, 2024
Crypto capital gains tax advice
When you’re in the game of flipping, swapping, or bidding farewell to your digital assets, you need to be aware of Capital Gains Tax (CGT). It tags along whenever you make some gains from selling, trading, or just saying goodbye to your crypto assets.
Your Partner in Providing Crypto Tax Advice
Navigating the crypto world can be complex and daunting. Why not let Crypto Tax Degens handle your crypto tax needs? We specialise in providing expert tax services specifically for crypto investors. If your current tax service isn’t meeting your unique crypto requirements, maybe it’s time to explore a partnership with us?
Choose Crypto Tax Degens for specialised, crypto-focused tax guidance and support.
Pay Your Crypto Capital Gains Tax
CGT isn’t just a consideration; it’s a crucial part of your crypto investment journey. Whether you’re trading, selling, or exchanging your digital assets, Capital Tax Gains come into play.
At Crypto Tax Degens, we specialise in the complexities of CGT for crypto investors. Our community is here to guide you through the maze of CGT calculations, ensuring you understand every aspect of your tax obligations. We’ll explore every relief and exemption you’re eligible for, aiming to minimise your tax liability.
If you’re thinking about making a move with your crypto assets, you should join us first. We offer expert advice, helping you to strategically plan your transactions to potentially reduce your CGT. Let’s keep your crypto investments smart and tax-efficient!
Access to 900+ Pages of Crypto Tax Advice
Explore our vast collection of over 900 pages of detailed crypto tax advice, letting you know everything you need to in the dynamic world of cryptocurrency taxation.
For All Levels of Understanding
Our resources are crafted for every level, ensuring easy understanding whether you’re new to crypto or a seasoned investor. Crypto tax made accessible for everyone.
UK Tax Guides
Navigate the specifics of UK crypto taxation with our specialised guides. Stay informed and compliant with the latest in UK crypto tax regulations.
FAQ’s
Let’s shed some light on the most common questions people are asking about crypto tax in the UK. Looking for more information? Join the community or reach out to us.
1How much tax do you pay on crypto in the UK?
For capital gains on crypto exceeding the £12,300 tax-free allowance, the tax rate is either 10% or 20%, depending on your tax bracket. If your income from crypto surpasses the personal allowance, the tax rate ranges from 20% to 45%. The specific tax you'll pay depends on the nature of the transaction, applicable tax rules, and your Income Tax band.
2How can I avoid paying Capital Gains Tax when cashing out my crypto in the UK?
In the UK, individuals benefit from a tax-free allowance for Capital Gains of £12,300. If your crypto profits stay below this threshold, you won't be liable to pay Capital Gains tax, nor will you need to report your crypto gains. However, if you sell your crypto for more than your initial purchase price, you will be required to pay Capital Gains tax on the profit exceeding the £12,300 allowance.
3Can HMRC track crypto?
Yes - HMRC can track cryptocurrency. By tapping into information from exchanges like crypto.com, HRMC are able to keep tabs on crypto transactions and target investors who are not meeting their tax obligations.
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The tax advice e-book
Learn the latest in Crypto tax advice and information by subscribing to Andy Wood’s ever-updating eBook – ‘A Degenerates guide to UK crypto tax.’
Learn how UK principles of taxation are applied to the fast-moving, ever-evolving world of Crypto, without the FUD of falling behind the times.
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E Book
E Book - real time updates
Quarterly update webinar
Annual conference
Monthly livestream
30 min appointment crypto accountant
4 hours per annum tax counsel
Access to exclusive tax planning guide
Access to exclusive estate planning guide
Discord / Telegram
£89.99 / month
E Book
E Book - real time updates
Quarterly update webinar
Annual conference
Monthly livestream
30 min appointment crypto accountant
4 hours per annum tax counsel
Access to exclusive tax planning guide
Access to exclusive estate planning guide
Discord / Telegram
Your Partner in Providing Crypto Tax Advice
Navigating the crypto world can be complex and daunting. Why not let Crypto Tax Degens handle your crypto tax needs? We specialise in providing expert tax services specifically for crypto investors. If your current tax service isn’t meeting your unique crypto requirements, maybe it’s time to explore a partnership with us?
Choose Crypto Tax Degens for specialised, crypto-focused tax guidance and support.
1
Access to 900+ Pages of Crypto Tax Advice
Explore our vast collection of over 900 pages of detailed crypto tax advice, letting you know everything you need to in the dynamic world of cryptocurrency taxation.
2
For All Levels of Understanding
Our resources are crafted for every level, ensuring easy understanding whether you're new to crypto or a seasoned investor. Crypto tax made accessible for everyone.
3
UK Tax Guides
Navigate the specifics of UK crypto taxation with our specialised guides. Stay informed and compliant with the latest in UK crypto tax regulations.
Crypto Tax Resources
Browse through our range of resources to find some of the best crypto tax tips and tricks out there. Learn how to navigate this complex world in the way that works best for you.
Gaining Control of Your Capital Gains Tax from Crypto
With Crypto Tax Degens, taking control of your Capital Gains Tax on crypto assets has never been easier. Empower yourself with our expertise and comprehensive resources, and make informed decisions to navigate your crypto journey with confidence and clarity.
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