to stop paying tax on your cryptocurrency gains and your capital gains.
Further to this, can you buy a house with Bitcoin UK?
After the first successful sale of a UK property using only Bitcoin, Go Homes announced it'll accept the digital currency to buy any of their other 250 homes available. The Land Registry also made history by agreeing to record the sale of the property in Bitcoin value for the first time.
Beside that, how much taxes do you pay on Bitcoin? For federal taxes, that means you pay a 15% tax on any gains, unless you make a lot of money (more than $479,000 (for married couples) or $425,800 (for individuals)), in which case you pay 20%. That compares favorably with almost every other alternative investment.
Having said that, do you pay tax on Bitcoin UK?
YOU don't have to pay tax when you buy bitcoin or other cryptocurrencies in the UK, but you might have to pay tax when you come to sell it. Everyone has an annual tax-free capital gains allowance of £12,000, but earn more than this by selling cryptocurrency and tax will be due.
Do you have to pay tax on Bitcoin trading?
HOW IS BITCOIN TAXED? Generally, there are no income tax or GST implications if you are not in business or carrying on an enterprise and you simply pay for goods or services in bitcoin (for example, acquiring personal goods or services on the internet using bitcoin).