How to AVOID TAX on Cryptocurrency UK (2021/22 Tax Year)
AVOID TAX on Cryptocurrency UK - Crypto Tax Avoidance 2021
Cryptocurrency may be taxed very differently than you expect. Although it is a fairly new type of asset, the government has introduced rules on how crypto should be taxed in the UK. Bitcoin or any other crypto is known as "crypto asset" in the UK and therefore capital gains tax liabilities will apply. Whenever you sell your cryptocurrency, if the taxable gain is above the tax-free allowance (£12,300), you will be subject to paying capital gains tax.
The actual tax rate will depend on what type of tax band you fall into. In this video, we will go through several methods on how you can avoid paying such taxes in a legal way. The way in which cryptocurrencies are taxed (UK) can be quite complicated but in this video, I will aim to make it as simple to understand as possible.
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