Thank you for coming back with this.. For me, I'm trying not to sell until then as the £ "may/will/will be made to" tank again.CSZiggy wrote:alim wrote:Depending where you live requirements may vary.
I'm checking with someone about UK law.
As I understand it, currently in the UK, if you make less than £1k/annum (6 April to 5 April), it is classed as a hobby/entrepreneurial income and not taxed. I'm trying to establish how long you have to HOLD the coin in order to differentiate capital gains from income. To complicate things, we have a concept here of "bed and breakfasting" as well, which is a way of taking advantage of the capital gains you can collect each year and then reinvest to grow for the next year. I'm also asking if one can buy crypto in an ISA (an account which is free of taxes on income and gains). I've also asked about offshore profits (we don't have a concept of paying tax on world wide income, but I'm sure there are conditions)
The only bright spark this week on algos this pool hashes for me was hearing LTC is now tradeable on a London Crypto Futures market - hopefully the market will move with the money post next march.