How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 16244
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

How can I avoid paying tax on Crypto - UK, No, No

This answer was rated:

How can I avoid paying tax on Crypto - UK
JA: Have you talked to a tax professional about this?
Customer: No
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: No

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Hi

You cant I'm afraid unless the gain is les than the annual exemption each year of £12300

Thanks

Sam

Customer: replied 12 days ago.
I see. I know some countries don't have any tax on crypto. Like Switzerland or British Virgin Islands and others.
Is there a way that I can open an account in a Swiss bank and invest that way, or perhaps a company registered in British Virgin Island, or any other way.
There must be a way, surely.
I am not asking to do anything dodgy, but surely there is a way that some people invest in stocks or Crypto without having to pay tax.
Thank you Sam.

Hi

if you are a Uk citizen then you are liable to tax under UK laws wherever the accounts are held

Thanks

Sam

Sam and other Tax Specialists are ready to help you
Customer: replied 12 days ago.
I see. I've paid £44 for a telephone conversation. Following your recent message I realised that you won't be able to offer a solution to this. Please cancel the telephone conversation and refund the money.
Thank you.

Hi

On of the other experts must have picked up the telephone request - I do apologise I will request a refund for you as you sate you did not receive it

I have offered a solution - that there is NO legal way to avoid tax -

Thanks

Sam

Customer: replied 12 days ago.

Good morning. OK, I understand.

Please cancel the telephone conversation and refund.

Thank you.

Dimitar

Hi

But they advise the phone call was made - was it not received ?

If so of course I will request a refund

Thanks

Sam

Customer: replied 11 days ago.

Hi Sam.

No-one called me.

Ask them to check their records please.

Please cancel and refund.

Thank you.

Dimitar

I will do

Thanks

Sam