ShintoBlessing
Sat Jun 08 2024
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6 answers
1394
Do I have to declare crypto?｜Like stocks and shares, the value (in 'normal' currency) of cryptoassets can go up or down. HMRC do not consider cryptoassets to be currency or money, or that buying or selling cryptoassets is gambling. This means that, .in HMRC's view, profits or gains from buying and selling cryptoassets are taxable
Do I have to declare my crypto assets to the tax authorities? Cryptoassets, similarly to stocks and shares, experience fluctuations in their value expressed in traditional currency. However, the HMRC does not categorize cryptoassets as currency or money, nor does it consider the buying and selling of these assets as gambling. Given this perspective, does it imply that any profits or gains arising from the purchase and sale of cryptoassets are subject to taxation?
GeishaCharm
Sat Jun 08 2024
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5 answers
906
Do I need to declare crypto?｜Like stocks and shares, the value (in 'normal' currency) of cryptoassets can go up or down. HMRC do not consider cryptoassets to be currency or money, or that buying or selling cryptoassets is gambling. This means that, .in HMRC's view, profits or gains from buying and selling cryptoassets are taxable
Do I have a responsibility to declare my crypto holdings? Similar to stocks and shares, cryptoassets are volatile in value, fluctuating in 'normal' currency terms. The HMRC treats cryptoassets differently from currency or money, and does not consider crypto trading as gambling. In this regard, does it imply that any profits or gains derived from buying and selling cryptoassets are subject to taxation? Could you clarify this matter for me?
GeishaGrace
Sat Jun 08 2024
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5 answers
1186
Can I move to Dubai and pay no tax?｜The good news is that but you may have tax obligations in the UK. In this article we look at the tax position of someone who is departing the UK to move to Dubai. You must tell HMRC if you are leaving the UK to live abroad.there is no tax at all in Dubai
Could you elaborate on the tax implications of relocating to Dubai for someone leaving the UK? I've heard Dubai doesn't have any taxes, but am I still obligated to pay taxes in the UK? I'm interested in understanding the overall tax position for someone making this move, and whether there are any specific steps I need to take with HMRC. Could you provide some clarity on this matter?
SakuraDance
Sat Mar 30 2024
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5 answers
1073
How does HMRC find out about crypto?
I'm curious, how does HMRC become aware of cryptocurrency transactions? Do they monitor every transaction made on crypto exchanges or do they receive reports from these exchanges? Also, if I make a profit from trading cryptocurrencies, am I obligated to declare it to HMRC? And how would they even know if I didn't? I understand that taxes are important and should be paid, but the whole process seems quite mysterious to me. Could you explain it a bit more clearly?
DaeguDivaDanceQueenElegance
Sat Mar 30 2024
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5 answers
1343
Can HMRC see all your bank accounts?
Could you please clarify, does HMRC have access to all of my bank accounts? I'm somewhat concerned about the privacy of my financial information. I understand that tax authorities need to access certain financial details for tax purposes, but I'm not sure if they have the authority to view all of my bank accounts. Could you please provide some clarification on this matter?
