Selling crypto over next year or two

Scottex99

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

Ha, that made me laugh, fair play.

There is ZERO chance that HMRC has decided some random alt coin is free from CGT.

Does it apply to SAFEMOON too? I remember you spamming groups about that sh**coin in the last bullrun.

Stop making stuff up, cheers

Malthusian

mooneysaver said:

Full details can be found in the instrument

Is the instrument playing Entrance Of The Gladiators?

mooneysaver

eskbanker said:

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....

The OP is asking about CGT on crypto sales.
Implementing section 751 (b) would mean there would be no CGT payable.
If the OP doesn't pay CGT they retain more of the profits of sale.
Apologies if you still can't follow but I'm not sure how I can simplify it any further for you.

InvesterJones

mooneysaver said:

eskbanker said:

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....

The OP is asking about CGT on crypto sales.
Implementing section 751 (b) would mean there would be no CGT payable.
If the OP doesn't pay CGT they retain more of the profits of sale.
Apologies if you still can't follow but I'm not sure how I can simplify it any further for you.

This is incorrect. CGT is still fully payable on capital gains from sales of crypto assets.

Malthusian

mooneysaver said:

The OP is asking about CGT on crypto sales.
Implementing section 751 (b) would mean there would be no CGT payable.
If the OP doesn't pay CGT they retain more of the profits of sale.
Apologies if you still can't follow but I'm not sure how I can simplify it any further for you.

You weren't being asked to simplify. You were being asked to elaborate by citing sources and clarifying exactly which Act or regulation contains "section 751b".

*puts more popcorn in microwave*

(Hopefully the OP feels his question has been answered so it doesn't matter that their thread has been derailed by this comedy godl.)