Selling crypto over next year or two

EthicsGradient

noitsnotme said:

ADA is the Cardano cryptocurrency but I can’t see HMRC saying that a specific currency is exempt from CGT under any circumstances.  Sounds more like something you hear from the bloke down the pub, unless mooneysaver can present further evidence.

mooneysaver can make the bloke down the pub look like a university professor - see, for example, the reaction to their randomly-made-up 'facts' here: Stocks and Shares Compounding — MoneySavingExpert Forum
Best to ignore anything they claim.

Scottex99

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

mooneysaver

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

noitsnotme

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

mooneysaver

noitsnotme said:

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

Full details can be found in the instrument

eskbanker

mooneysaver said:

noitsnotme said:

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

Full details can be found in the instrument

You seem to have missed including the link again - please tell us you're not referring to some American tax rules!

P.S. For anyone interested in relevant citations:

https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual
https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassets

noitsnotme

mooneysaver said:

noitsnotme said:

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

Full details can be found in the instrument

Until such time that you can link to said instrument, I do not believe it exists for UK tax payers.

My guess is you invested heavily in Cardano in 2021 and are now trying to ramp it up in the hope you can reverse some of your paper losses.

masonic

eskbanker said:

mooneysaver said:

noitsnotme said:

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

Full details can be found in the instrument

You seem to have missed including the link again

Unfortunately the fake:// URL scheme didn't get traction.

mooneysaver

eskbanker said:

mooneysaver said:

noitsnotme said:

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

Full details can be found in the instrument

You seem to have missed including the link again - please tell us you're not referring to some American tax rules!

P.S. For anyone interested in relevant citations:

https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual
https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassets

Not sure if this is a joke I don't get, but no HMRC instruments don't apply to American tax.

eskbanker

mooneysaver said:

eskbanker said:

mooneysaver said:

noitsnotme said:

mooneysaver said:

Scottex99 said:

mooneysaver said:

HMRC have confirmed as long as you convert to ADA and hold for more than 180 days in a tax year before selling there will be no CGT arising. Search section 751 (b) instrument for the full details

What are you on about 

ADA = Cardano
CGT = Capital Gains Tax

Those appear to be the only facts from your original post.  Do you have evidence from HMRC to support what you said?

Full details can be found in the instrument

You seem to have missed including the link again - please tell us you're not referring to some American tax rules!

P.S. For anyone interested in relevant citations:

https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual
https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassets

Not sure if this is a joke I don't get, but no HMRC instruments don't apply to American tax.

You should always understand jokes you're telling, and they're always better if funny.

One more time:

Please clarify exactly what instrument you're referring to with your vague reference to "Search section 751 (b) instrument for the full details" - a link would be nice but the verifiable name of a real act or regulation ought to do.

Bonus points for actually highlighting how it would be relevant to OP....