UK Crypto Tax Explained By Leading Cryptocurrency Accountant - Part 4

- HMRC update – they have been sending chaser letters to crypto investors who they believe have made gains.
- What is the difference between tax avoidance and tax evasion?
- What are the possible sanctions or fees for not paying capital gains tax on crypto gains? What percentage of your crypto could you potentially lose?
- What are some tax avoidance strategies to reduce capital gains tax?
- What is the advantage of using automated crypto tax software like Koinly?
- What is crypto tax loss harvesting?
- What is an NV or negligible value claim?
- What happens if you lose your crypto or your private keys?
- What is the new UK crypto bill that has been introduced in Parliament?
- And if you lost crypto through the collapse of platforms such as FTX or Celsius?

That's what we cover in this video.

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It has never been more important to educate yourself financially.

Contact me here or via e-mail (available on the channel's main page) if you are interested in 1:1 crypto coaching:

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If you are interested in getting specific crypto tax advice based on your personal circumstances from a leading crypto tax company, please find below a direct link to enquire with Myna.
Use my name and YouTube channel as who referred you, so they know you have come from here:

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Create your free automated crypto tax account with Koinly here:

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Securely store, manage, and protect your cryptocurrencies with an open source Trezor hardware wallet app & backup solutions. An excellent and one of the best cold storage options in my opinion.

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Check out my previous videos mentioned:

UK Crypto Tax Q&A Part 1:

UK Crypto Tax Q&A Part 2:

UK Crypto Tax Q&A Part 3:

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Chapters:
0:00 - Intro
1:51 - Question 1
5:08 - Question 2
8:37 - Question 3
11:02 - Question 4
14:10 - Question 5
15:03 - Question 6
17:55 - Question 7
21:46 - Question 8
32:55 - Closing Thoughts

Disclaimer:
The information contained in this video is for informational purposes only. Nothing shall be construed as financial advice. The content is solely the opinions of the speaker who is not a licensed financial advisor. The speaker does not guarantee any particular outcome. This is to confirm that I am not liable for any third-party services or interactions that you enter. Links included in this description may be affiliate links, for which I will receive a commission if you decided to purchase a service or product through that company.

#cryptotax
#cryptocurrency
#cryptoregulation
#cryptoeducation

[AtticusDenzil]

can't they just fek off with the tax? taxation is theft in this case since they contribute nothing to our earnings

[craigperry]

I may have asked this before, but a video about crypto inheritance planning would be excellent!

[Willopops]

I’d love to see a video about what you need to do, tax-wise, in order to leave the country & become tax resident elsewhere.
Not what you need to do to be declared tax resident elsewhere, but the exit process.

[prisol]

very informative video thankyou, how do you actually declare crypto tax loss on the hmrc tax return? IS there a guide for this? TIA.

[Len_J_]

PT.4?!?? Crypto gains come under capital gains tax and you need to declare them or you get in trouble. Done.

[BitcoinAndCryptoCurrency]

learning the basics really helped thanks

[chmhvhg]

Hi James, I trade on Binary Trading and as the site is restricted in the UK, am I still liable for taxes on my crypto?

[JonJon-suyo]

I wont be paying a penny in tax .i will be leaving the country, its finnished

[ijustwanttoaskaquestion]

I am dreading the October 31st budget, I can see them raising the GCT from 10/20% to 20/40/45% and with immediate effect, ouch!

[nothinghere]

no tax in the bitcoin ecosystem. go into fiat, they'll hammer you.

[essanjay]

Smile! You always look so darned serious.

[GenZClub]

Nice Content! Do you have a Business email or should i shoot you a DM?