I have zero idea, as far as I know in the UK any gain is subject to capital gains tax, but only practically so when you cash out in fiat. I've cashed out my investment and then some, and reinvested some back into other coins, so im not sure what my tax situation is regarding it all. I could in theory declare that I have lost any money that I gained (in reality it was invested into other coins).
but wouldn't they still say that you made it at some point and just because you spent it doesn't mean you don't owe them infinity billion dollars or you're going to jail for being literally hitler
[–] monkeytennis ago
I have zero idea, as far as I know in the UK any gain is subject to capital gains tax, but only practically so when you cash out in fiat. I've cashed out my investment and then some, and reinvested some back into other coins, so im not sure what my tax situation is regarding it all. I could in theory declare that I have lost any money that I gained (in reality it was invested into other coins).
[–] Anson [S] 0 points 1 point 1 point (+1|-0) ago
but wouldn't they still say that you made it at some point and just because you spent it doesn't mean you don't owe them infinity billion dollars or you're going to jail for being literally hitler