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[ed eddthehorse WANTED $3 Outlaw]

Hi , since the uk laws are now taxing capital gains on crypto , what way do you approach wins if you add to your crypto.com wallet from bank transfer of say £1000 and then withdraw £15000?

[Vinny123 WANTED $9 Outlaw]

Gambling wins in any form are not taxed in the UK.Not because the HMRC is being kind but due to the fact that if winnings were  taxed, gambling losses could be claimed against tax,and as we all know in the long run the casinos always win.Sure the taxman is working hard to find a way round this.

[Slot WANTED $46 Outlaw]

I did SOW not long ago on one of the crypto wallets when I told them I got the money from gambling they skipped all the tax BS, so they never asked me about tax, all they want proof of wining and income, casino I played (BC and Winz) they help me get all the winning transaction, they could easy refuse or ignore to help me..

P.S I think some wallets ask for SOW when you get over £50k withdraw

as long you don’t hold and profit from crypto you should be ok, many times I win on BC I save the money on BC Vault Pro is like you keep it on a wallet you get 5% a year, and can be redeposited any time on Bc account no fees

[Ma Madsam200 WANTED $1 Outlaw]

Hi can someone help me please? I’ve always used Coinbase to withdraw my crypto to PayPal, but it’s not letting me anymore.
what is the best way to withdraw back to my bank or PayPal please? Do I need a different wallet now?

[Slot WANTED $46 Outlaw]

yes you need new wallet, Kraken is not bad to use is easy

[JonnyBongo WANTED $2 Outlaw]

Oh I just started a thread on this topic..

I thought the same gambling wins not being taxed but because of crypto being asset class it’s now liable for capital gains,

I have been insanely lucky and have a decent balance in my wallet which is obviously fluctuating with the market but not sure how to get it out legitimately whilst keeping as much as possible away from the tax man?

[Slot WANTED $46 Outlaw]

Madsam200 wrote:

Hi can someone help me please? I’ve always used Coinbase to withdraw my crypto to PayPal, but it’s not letting me anymore. what is the best way to withdraw back to my bank or PayPal please? Do I need a different wallet now?

for now, I am using Revolut Bank accept crypto, BC to Revolut Bank about 2mins another 30mins to be credited to your account, I use fiat deposit but BC withdrawal to a bank is not working on Skrill and BC charged me last time €78 for €1000 cashout

 

[Slot WANTED $46 Outlaw]

JonnyBongo wrote:

Oh I just started a thread on this topic..

I thought the same gambling wins not being taxed but because of crypto being asset class it’s now liable for capital gains,

I have been insanely lucky and have a decent balance in my wallet which is obviously fluctuating with the market but not sure how to get it out legitimately whilst keeping as much as possible away from the tax man?

gambling in UK is 0 tax, and a gift from friends family etc is 0 tax, if you keep your winning in the wallet and you make a profit from a Crypto value of over £5k a year you need to pay tax on £5k, so don’t keep it on your wallet

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