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In this video, I explore how is crypto taxed in the UK, can you avoid crypto UK tax and how does bitcoin tax work? Understanding how crypto tax and capital gains is essential to making sure you aren’t fined or worse, put in prison. There’s no magic software out there so it’s up to reading whitepapers and using a professional accountant.

Crypto mining tax in the UK is also something you need to consider as well as day trading. I’m not a tax expert so don’t take my word for it, always consult a professional. The sale and profit of cryptoassets are subject to what is known as Capital Gain Tax. If you’re new to the world of finance, Capital Gains are when you have an asset which appreciates in value, because when you ‘realise’ that profit or gain by selling it you have additional income that you didn’t have before.

Of course, you can’t have nice things these days and this additional income is subject to tax which is reported on your self assessment tax return of which you MUST register with HRMC in time to avoid any penalties, fees or imprisonment.

And beware… you need to be extremely careful when calculating your gains from the sale of cryptoassets because HMRC recieves information from large crypto exchanges like Coinbase and many others if you have holdings over £5000 so they will pursue you if you fail to report profits correctly.

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HMRC guide:
https://www.gov.uk/government/publications/tax-on-cryptoassets

Timestamps
00:00 Introduction to UK Crypto Tax
00:55 HMRC Crypto Rules
01:35 Crypto Capital Gains Tax
03:00 Tax Allowances
03:30 What is Crypto Disposal?
04:50 HMRC Definition of Crypto
05:30 Capital Gains Tax Rates
05:45 Carrying Forward Losses
06:14 Crypto Mining Tax
07:01 Conclusion & Next Videos

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WHO AM I:
I’m Matt, a product owner and property investor working in London, UK. I make videos about money, finance and property investing to help people lead a more financially savvy life. In my spare time, I’m documenting what it takes to diversify my income and build a business.

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#cryptotaxuk #bitcointaxuk #avoidcryptotax #ukcryptotaxrules #cryptotaxes #ukcryptotax

Natalie Ceeney CBE, Chair of Innovate Finance and the Access to Cash Review, will lead a panel discussion on the implications of the UK’s rapid decline in the use of cash. How can we ensure that no one gets left behind and that pockets of the UK aren’t disproportionately impacted? FinTech has a role, both to widen inclusion in digital payments, but also to innovate in the cash cycle.

Panel:
Monica Kalia, Founder, Neyber
Lucy Malenczuk, Senior Policy Manager, Age Uk Natalie Ceeney, Board Member, Innovate Finance

Moderator:
Thomas eyre, CEO, LOQBOX

American Mafia: The Rise and Fall of Organized Crime In Las Vegas is a 90 minute documentary film by Mark W. Curran. It tells the story of how the mob came to control Las Vegas through corruption, greed and murder.

In today’s quick video I discuss my experience with Chase Bank closing accounts as well as Chase bank review. I recently received a letter from Chase Bank informing me that they are closing my accounts and did not specify a reason. I have been banking with Chase bank for over 18 years. I have a great credit score, never defaulted on my accounts and was never late on any payments.

Apparently, any bank has the legal right to close accounts for whatever reason they see fit. There are certain legal risks and reputational risks that can cause a bank to close your account. However, I do not meet any of these things which is frustrating as I really want to know what exactly about my accounts(s) made them worried and want to close all my accounts.

I reached out to Chase customer service through their phone number that was provided on the letter. As well as went into my local Chase bank branch. Neither could give me an explanation to why this bank closing accounts.

If you have any experience with this, I would love to hear your story in the comments section below.

#Chase #BlackList #Bank