25th July 2024 at 11:17 pm
#141965
Oh I just started a thread on this topic..
I thought the same gambling wins not being taxed but because of crypto being asset class it’s now liable for capital gains,
I have been insanely lucky and have a decent balance in my wallet which is obviously fluctuating with the market but not sure how to get it out legitimately whilst keeping as much as possible away from the tax man?
gambling in UK is 0 tax, and a gift from friends family etc is 0 tax, if you keep your winning in the wallet and you make a profit from a Crypto value of over £5k a year you need to pay tax on £5k, so don’t keep it on your wallet