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Tax CoinVoyager's avatar Regular · 1 week ago
Why does it matter to UK cryptocurrency investors to maintain good records for all transactions?
Why does it matter to UK cryptocurrency investors to maintain good records for all transactions? Should cryptocurrency exchanges and wallets provide more facilities for calculating the profits on which users would have t…
SatoshiTrail replied

cryptocurrency traders in the uk have to keep their documentation in order because without it the HM Revenue and Customs will not be able to determine how much Income Tax…

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Tax veteran's avatar Regular · 1 month ago
When you buy UK shares you pay 0.5% stamp duty upfront yet the same transaction in US or European shares attracts zero such tax, how can the UK claim to be a competitive global financial centre?
That half percent drag means a £100,000 UK portfolio pays £500 more per turnover than an identical US listed portfolio. Doesn’t that directly discourage people from investing in their own home economy?
Krys replied

One could argue that SDRT is a minor 0.5% and that london remains competitive due to deep capital pools, rule of law and time zone advantages but that defence ignores…

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