Like setting up a limited company in a tax haven (eg. Jersey) or something? Something that is legal and doesn't involve having to move abroad yourself, and still lets you spend the money here.
I'm a brainlet and know nothing about this stuff but just wondering if it's possible
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>I'm a brainlet and know nothing about this stuff but just wondering if it's possible
your queen theresa hires people who are actually good at their job to prevend people like you from that.
if youre a brainlet it is not possible no.
My plan...
Never convert your crypto back into FIAT, just wait until it is worth a lot then just buy things direct with crypto, or if you do want to cash out, move to a country with no tax.
If asked about your crypto, say you lost the private keys or somin
Imagine risking imprisonment for a simple 20% tax on an asset that probably grew 1000% or more.
Be thankful u arent an Amerifag that has to pay tax on every fucking trade.
> be thankful you get less money stolen from you
yikes
The issue is that yes you will avoid capital gains tax but your LTD will be taxed on the profit and then you will be taxed when you remove it via dividends.
Just pay the capital gains tax, its tax free up to £11k at least and via a LTD you will be paying more tax in the long run.
pretty much, you have to be careful though, if HMRC suspect that your company is a sham and only for the purpose of avoiding CGT they'll come after you.
There are quiet a few questionable but legit avoidance schemes out there, which are constantly changing; best to ask an accountant or lawyer though when the times comes that you realise your assets
UK fag here. I have £100k+ in crypto, which will be worth £3m + at the peak of the next bubble.
I’m only gonna buy gold once I’ve tethered up in a stable coin. I will sell the 1 ounce gold coins for cash if I need fiat.
I will purchase a car using btc and purchase airline tickets using ltc.
I will always be in stealth mode.
Fuck CGT and the royal family.
I believe you're still subject to capital gains tax 5 years after you move from the uk anyway.
11k taxfree?! LMAO
in germany u get 800 taxfree..
just take out 10999
next year another 10.999
next year another 10.999
again and again lol
Anybody trying to avoid the HMRC needs to live below their means and not flash money around like low IQ niggers.
Try stay away from banks and stick to privacy coins, physical cash or gold/silver.
Also if you have a partner then its £11k split between the two of you, so £22k tax free a year.
UK user here who owns a legit LTD company (not set up for crypto though).
Several options:
• Pay the CGT and sleep easy at night and enjoy your legitimate gains
• Try to pass of the gains as gambling wins (possible and tax free)
• Buy a high end classic car with crypto and flip it for cash. For some reason classic car sales are exempt from CGT.
Just trade on bitmex where you are paid in btc and place orders in btc. As long as you stay in btc you should be fine.
But wouldn’t they question you about how you got the car? Or they only care if you turn it back to fiat?
>Is it possible to escape as a UK resident
No.
>tfw Australian
>CGT here is literally the same as income except that you get a 50 percent discount if you held the asset for a year
>they just downgraded the discount for CGT to 25 percent
Yeah honestly 20 pecent flat seems downright generous by comparison.
meh, if you have enough money you would just change your residency and pay less tax.
the alternative is set up a CoL trust with control from various tax havens as your principles.
to be honest it is extremely easy to limit your tax in UK as uk is the current capital of tax avoidance. the fact that you dont know how means you dont have enough money for anyone to care to help you.
This
Leaving the country for 5 years is the only answer i found.
t. Paid £100k in cryptogain tax
>UK fag here. I have £100k+ in crypto, which will be worth £3m + at the peak of the next bubble.
If you put that in QNT you'd be taking 30mil instead, son.
>>they just downgraded the discount for CGT to 25 percent
isnt this just something labor wants to do?
is it that long? as I haven't been here 15 years yet...I have to leave for 1 complete year, i can only come back for 12 days during that year.
5 years is crazy...What happens if you residency elsewhere?
I'm sure you can visit, but i don't know how long. Pretty sure it's all on the gov website
Just like you stole the roads, the police, healthcare etc. from the government?
Yeah you need to leave for 5 years. And by leave, leave leave, you need a new address (not a P.O. Box), proof of a formal residency immigrant stamp/visa in your passport/ID Card which shows the date you became resident (non-immigrant visas don't count), utility bills, evidence that your "domicile" is there (i.e. you moved your vote, you changed dentists to a local dentist in your new country, found a new vet for your pet hamster etc), partake in an economic activity in your new residence, notified the British High Commission/Embassy/Consulate of your new residency etc.
It's doable, but you need to be watertight.
Maybe but if it was brought and sold without ever having taken delivery of it or registering it, how would they ever know? All that would happen is large amount of cash appears in your bank account and of course you've spoken to the bank and told them to expect a large deposit from a car sale.
I suggest you read the below...
Don't know you situation but i think your wrong....i don't see any mention of 5 years... I am going thought it now again...its been a while
I am looking into getting a panama friendly nations residency. I have 3 citizenships = D
Go and live on the Isle of Man for six months and cash out there. Simples.
Truly the land of the free
Caymen Island
That would be a comfy 6 months. I’m doing this
This there are also BVI scheme but mostly for propety assets they can cost an extremely large amount of money to set up in the first place so you need a reasonable net worth to justify it
FYI I have a family friend who is a 'Non Dom'...He live in the UK most of the year (over 183 days). what he does is fly to the isle of man, the take the ferry to enland, no passport needed.
I am going to delete this comment in a few btw....
Honestly this is the way to go
Although good luck buying a car with Bitcoin that hasn't been stolen
>Honestly this is the way to go
laundering a million through gold is an embarrassing larp.
not sure if youve dealt with precious metals before but cashing out makes selling crypto seem like finding a tenner in the street.
But won't I have to pay something in taxes if I bring that money over to the UK when I move here again?
If you became rich, why the hell would you want to keep living here?
>Ugly women
>Shit weather
>Shit food
>Shit healthcare
>Shit internet connection
>more shitskins than any other European country
>Nanny state with retarded laws
You will end up as a weak and fragile old man with Alzheimer's and rheumatism.
>Ugly women
Correct
>Shit weather
Correct
>Shit food
Correct
>Shit healthcare
Its actually pretty good but that's irrelevant. If you're relying on the state to keep you alive you should just kys
>Shit internet connection
Again it's not that bad
>more shitskins than any other European country
Absolutely wrong
>Nanny state with retarded laws
Correct
Yes. Retards don't understand the law. Taxes are due if you become resident again within 5 years.
Sure, you might not get noticed. But the law is clear.
Family and the countryside where I live is pretty nice.
>Be thankful u arent an Amerifag that has to pay tax on every fucking trade.
We do actually, HMRC recently released a crypto guideline that kind of says that. My bet is on it being impossible to enforce on small transactions. I've already done dozens via Wirex just this year.
If you have a lot to cash out just pay your tax you fucking leech
Well, ok. It's second only to Germany when it comes to sandniggers but then you include all the pajeets, pakis and niggers from ex-colonies and it's easily the most diverse European country. Yeah, British countryside like Yorskhire or Norfolk is nice but not practical. Also some countryside towns are full of trash people like chavs. It's like Southern US.
Ancap brainlet BTFO
document says only pay on trades if you're classed as a day trader
fuck sake guys, its easy. you incorporate wherever is best tax wise, and fund your shareholding with your crypto.
then take it out as divs. fuck all hmrc can do if its a non uk company tied to a non uk bank.
the reality is this is a big larp, because you dont tax arb a fucking wage.
so cucked.