Crypto TAX in UK 2024/25 | Everything You Need to Know

In today's video, I will run through Cryptocurrency Tax in the UK, including the current guidelines, the legal requirements, and ways you can either legally reduce your overall tax bill and save yourself some money! If you have made money in Bitcoin, or any other cryptocurrency, then you need to be aware that those profits can't just go straight into Lamborghini purchases and you will need to look at the Tax implications of your gains. Understanding the tax implications of how you invest, or trade, in the cryptocurrency space is extremely important and tax sadly comes part and parcel with your activity. 💰Get $10 FREE BTC at Coinbase: https://www.coinbase.com/join/deu_m 💰Get $25 USD at Crypto.com: https://crypto.com/app/ujdezr2cgy 💰Etoro sign up: https://etoro.tw/3xNIPWS 💰Kucoin Sing up bonuses at: https://www.kucoin.com/ucenter/signup... Useful timestamps: 00:00 Introduction 00:44 Tax on Cryptoassets / Disclaimer 01:05 Tax on Cryptocurrency profits 01:55 Not declaring your Cryptocurrency profits? 02:15 Trading Cryptocurrency vs Personal Investment 03:05 Capital Gains Tax Allowance (CGT) 03:24 CGT example 03:45 CGT Spouse/Civil partner allowance 04:14 Bed & Breakfasting 05:05 Losses in Cryptocurrency 05:55 Deductible costs from Tax 06:24 Recording your activity 06:47 Receiving tokens from mining/employment Anti Guru Property Program: 🏠 https://theanxiousinvestor.learnworld... [Offers lifetime access to classes, exclusive videos, training and documents required for property investing] Use the code FYV10 for 10% discount of your superfood blends: https://www.healthxcel.co.uk Book a consultation: https://calendly.com/findyourvoice/ex... YouTube Resource (TubeBuddy) https://www.Tubebuddy.com/findyourvoice References mentioned in the video: https://koinly.io/guides/hmrc-cryptoc... Free Property Deal Analyser and 1 month FREE Skillshare : https://www.skillshare.com/r/user/fin... Books: Buy Outwitting the Devil: https://amzn.to/3c97pGq Buy Principles: https://amzn.to/2ZOk1js Buy How to stop worrying & start living: https://amzn.to/3esi4h4 Buy The 4 hour work week: https://amzn.to/3cuAwnZ Buy Essentialism: https://amzn.to/2xHUTiL Buy Mindset by Carol Dweck https://amzn.to/2QajMvZ Buy Sleep Smarter: https://amzn.to/3ezCeFL Podcast equipment I use: Rodecaster Pro: https://amzn.to/2M36Lj5 Rode Podmic: https://amzn.to/36yfYcy Rode NT-USB - https://amzn.to/2X7LsDp Camera equipment I use: Sony A6600 Mirrorless: https://amzn.to/2XUT38N Sony DSCHX90 Digital - https://amzn.to/2TCAfID Canon Powershot SX730 HS - https://amzn.to/2yQkbs6 Nikon D5300 - https://amzn.to/3c825mN Podcast host (acast): Acast: https://open.acast.com/invite/r/arendeu As an Amazon Associate, I earn from qualifying purchases, but you are charged the same. This in effect helps me use the proceeds towards growing the Find Your Voice Podcast. Links to me: Website: https://www.healthxcel.co.uk Instagram:   / the_anxious_investor   Twitter:   / arendeu   LinkedIn:   / aren-deu   Podcast: https://www.findyourvoicepodcast.com/... Disclaimer: All the information provided in this video is purely for entertainment purposes ONLY and my own opinions, so please do seek financial advice from a licensed professional. #bitcoin #tax