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Where Taxpayers and Advisers Meet

Small gains on Crypto

ACEPA
Posts:4
Joined:Fri Dec 06, 2024 5:55 am
Small gains on Crypto

Postby ACEPA » Fri Dec 06, 2024 6:08 am

I seek advise on UK taxes. I have made a small gain on the crypto ball run and wonder what my tax obligation is to the UK
authorities. My exchange originally requested I used my UK address due to holding a UK passport. I have been non-dom for 42 years. I own a house in the UK and my wife has lived in the UK 10 years. If my exchange sends a profit notice to the IRS am I obligated to pay UK taxes on the profits ?

AGoodman
Posts:1911
Joined:Fri May 16, 2014 3:47 pm

Re: Small gains on Crypto

Postby AGoodman » Fri Dec 06, 2024 11:44 am

Are you tax resident in the UK and, if so, how long?

If you've not been UK tax resident for over 5 years and aren't planning to return this tax year, then you will not have a UK CGT liability.


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