We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Selling crypto over next year or two
Comments
-
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 Forumnoitsnotme 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.
Best to ignore anything they claim.5 -
What are you on aboutmooneysaver 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 details0 -
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax0 -
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax0 -
Full details can be found in the instrumentnoitsnotme said:
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax0 -
You seem to have missed including the link again - please tell us you're not referring to some American tax rules!mooneysaver said:
Full details can be found in the instrumentnoitsnotme said:
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax
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
2 -
Until such time that you can link to said instrument, I do not believe it exists for UK tax payers.mooneysaver said:
Full details can be found in the instrumentnoitsnotme said:
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax
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.1 -
Unfortunately the fake:// URL scheme didn't get traction.eskbanker said:
You seem to have missed including the link againmooneysaver said:
Full details can be found in the instrumentnoitsnotme said:
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax
1 -
Not sure if this is a joke I don't get, but no HMRC instruments don't apply to American tax.eskbanker said:
You seem to have missed including the link again - please tell us you're not referring to some American tax rules!mooneysaver said:
Full details can be found in the instrumentnoitsnotme said:
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax
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-cryptoassets0 -
You should always understand jokes you're telling, and they're always better if funny.mooneysaver said:
Not sure if this is a joke I don't get, but no HMRC instruments don't apply to American tax.eskbanker said:
You seem to have missed including the link again - please tell us you're not referring to some American tax rules!mooneysaver said:
Full details can be found in the instrumentnoitsnotme said:
Those appear to be the only facts from your original post. Do you have evidence from HMRC to support what you said?mooneysaver said:
ADA = CardanoScottex99 said:
What are you on aboutmooneysaver 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
CGT = Capital Gains Tax
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
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....4
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards