Londonkid Posted January 6, 2021 Share Posted January 6, 2021 1 minute ago, markyh said: Already own £28.5k worth in my SIPP that is up 36.5% in less than 2 months, has now overtaken Tesla to become my no.2 holding by Value. Good work, but you can't add to it. Basically it's a forced hodl on us Microstrategy is the only way I can't think of getting it in the pension Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 1 minute ago, Londonkid said: Good work, but you can't add to it. Basically it's a forced hodl on us Microstrategy is the only way I can't think of getting it in the pension With over $1b BTC bought between $9k and $21k its a good BTC proxy ETF. There is a good chance MS might use a bit in 5-10 years time to buy other good companies to bring into MS fold. Wont be short of money. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 19 minutes ago, Londonkid said: This is getting crazy, these alts are blowing up. Close to the magical 7 figures, probably get there by tomorrow - glad I got into lend/aave at cents no £83. Vechain and swissborg at X10 Very happy with link and LTC at $3 Thanks to Max Keisser for this as I was introduced to BTC for him. I'm not a tax dodger so happy to pay my share of capital gains If you still want BTC in pension, micro strategy is a good way of getting it in Out of interest did you hold BTC on December 1st 2019 for the HEX snapshot, and Freeclaim on December 3rd 2019? I did and my Hex is now worth £1400 as my 1st interest staking period ends tonight at Midnight. lovely little BTC Freemium that ended 30th Nov 2020. Quote Link to comment Share on other sites More sharing options...
Londonkid Posted January 6, 2021 Share Posted January 6, 2021 3 minutes ago, markyh said: Out of interest did you hold BTC on December 1st 2019 for the HEX snapshot, and Freeclaim on December 3rd 2019? I did and my Hex is now worth £1400 as my 1st interest staking period ends tonight at Midnight. lovely little BTC Freemium that ended 30th Nov 2020. That's actually really good. I've not even bothered to look at hex as it seems to be some Ponzi. However, if you have free money, enjoy it Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 6 minutes ago, Londonkid said: That's actually really good. I've not even bothered to look at hex as it seems to be some Ponzi. However, if you have free money, enjoy it It's actually interested barring @ 20%p/a, so i'm compounding it for 5 years and see what happens. But it is no more a ponzi than XRP or any other Alt that had a Airdrop / Freeclaim. I quite like it. Any, thanks for the HEX bonus, those that didn't freeclaim, their unclaimed HEX from the claim pool was shared between everyone who did claim up to 30th Nov 2020, BIGPAYDAY. 👍 Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted January 6, 2021 Share Posted January 6, 2021 1 hour ago, elephant said: You pay CGT at the same rate as your income tax rate. So as a basic rate tax payer I would basically ‘only’ pay 20% (or less on some of it if I’ve not used up my basic allowance for the year) CGT after allowances, even if my profit was £1million on bitcoin. I’d be quite happy with £800k profit after tax 🤷♂️ That seems like a big loophole. Are you sure the £1m capital gains profit doesn't itself push you into the 40% bracket even if your income doesn't? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 6, 2021 Share Posted January 6, 2021 2 minutes ago, dannyf said: That seems like a big loophole. Are you sure the £1m capital gains profit doesn't itself push you into the 40% bracket even if your income doesn't? I know it doesn't. Quote Link to comment Share on other sites More sharing options...
elephant Posted January 6, 2021 Share Posted January 6, 2021 4 minutes ago, dannyf said: That seems like a big loophole. Are you sure the £1m capital gains profit doesn't itself push you into the 40% bracket even if your income doesn't? Pretty sure my understanding is right but happy to be corrected. From HMRC... ”If this amount is within the basic Income Tax bandyou’ll pay 10% on your gains (or 18% on residential property). You’ll pay 20% (or 28% on residential property) on any amount above the basic tax rate.” https://www.gov.uk/capital-gains-tax/rates Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 3 minutes ago, MonsieurCopperCrutch said: I know it doesn't. It's actually 1/2 income tax, you pay 10% CGT for between £12.5k and £50kish, and 20% CGT £50k and above. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 6, 2021 Share Posted January 6, 2021 6 minutes ago, markyh said: It's actually 1/2 income tax, you pay 10% CGT for between £12.5k and £50kish, and 20% CGT £50k and above. From memory first £12,300 tax free, then £37,000 at 10%, then £950,000 at 20%. Quote Link to comment Share on other sites More sharing options...
longgone Posted January 6, 2021 Share Posted January 6, 2021 2 hours ago, goldbug9999 said: So @longgone you called the top at £25k, care to have another go - up or down from here ?. i would be more interested what`s making it go up, and so late after decimation and boom of the stock market ? you may get answers there. Quote Link to comment Share on other sites More sharing options...
longgone Posted January 6, 2021 Share Posted January 6, 2021 move to Cyprus for 0% CGT you can swap satoshi to poutanas at a good exchange rate while your there too. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 7 minutes ago, longgone said: i would be more interested what`s making it go up, and so late after decimation and boom of the stock market ? you may get answers there. More and bigger buyers than is avaialble for sale. Simple supply and demand as we predicted. We have a 20% crash already, $35k to $27k, lasted six hours before it was back to $33k, now less than 3 days later, above $35k. Welcome to Bull run 2021..............................the Institutions. Quote Link to comment Share on other sites More sharing options...
FTB-house-hunter Posted January 6, 2021 Share Posted January 6, 2021 10 minutes ago, MonsieurCopperCrutch said: From memory first £12,300 tax free, then £37,000 at 10%, then £950,000 at 20%. so anything less than 950k is only 10% CGT? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 6, 2021 Share Posted January 6, 2021 (edited) 5 minutes ago, FTB-house-hunter said: so anything less than 950k is only 10% CGT? No. I roughly remember it's: 12,300 is tax free then 37,000 is 10%. Then 950,000 total is 20%. Edited January 6, 2021 by MonsieurCopperCrutch Quote Link to comment Share on other sites More sharing options...
longgone Posted January 6, 2021 Share Posted January 6, 2021 1 minute ago, markyh said: More and bigger buyers than is avaialble for sale. Simple supply and demand as we predicted. We have a 20% crash already, $35k to $27k, lasted six hours before it was back to $33k, now less than 3 days later, above $35k. Welcome to Bull run 2021..............................the Institutions. squeaky bum time if it reaches you remaining mortgage amount after CGT though i imagine. 20 years drip feeding or instant guaranteed freedom, tough decision. Quote Link to comment Share on other sites More sharing options...
adarmo Posted January 6, 2021 Share Posted January 6, 2021 7 minutes ago, longgone said: move to Cyprus for 0% CGT you can swap satoshi to poutanas at a good exchange rate while your there too. Worth a look, watch they don't rob your bank deposits again though. They've got form. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 Just now, longgone said: squeaky bum time if it reaches you remaining mortgage amount after CGT though i imagine. 20 years drip feeding or instant guaranteed freedom, tough decision. Not really, target is clear. Has to be really life changing. 50% has to equal outstanding mortgage, wife wants a £200k extension with basement Cinema room and GSHP in 2025. I'm not working to 67 to pay for that. looking at semi retirement lifestyle business from 2022-2036. Happy to wait another cycle until 2025 if not this year. Cant touch my pension yet for a few years, and 1/3rd of my Crypto is in my SIPP. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 6, 2021 Share Posted January 6, 2021 On 12/22/2017 at 8:45 PM, doomed said: Bitcoin Cash can and will scale on chain. The technology advance within the next decade will allow it to happen with ease and always remain ahead of demand. What Core have done to Bitcoin is criminal as well as all the useful idiots who cheer them on. This aged well. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 4 minutes ago, adarmo said: Worth a look, watch they don't rob your bank deposits again though. They've got form. Yes, the cause of the 2nd 2013 BTC gull run from $100 to $1100. Remember it well. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 2 minutes ago, MonsieurCopperCrutch said: This aged well. Sold all my BCH and BSV freemium's in summer 2019 while still worth a fair bit. Quote Link to comment Share on other sites More sharing options...
longgone Posted January 6, 2021 Share Posted January 6, 2021 7 minutes ago, adarmo said: Worth a look, watch they don't rob your bank deposits again though. They've got form. 🤣 could be worse you could have £3m quid worth of land in Nicosia and a house stolen by the turks in the 70`s. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 6, 2021 Share Posted January 6, 2021 1 minute ago, markyh said: Sold all my BCH and BSV freemium's in summer 2019 while still worth a fair bit. My cold wallets have BCH and BSV in them but I'm not to bothered. When I finally sweep the keys I'll be moving the BTC first. Not risking a replay attack trying to claim some shitcoinage. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 6, 2021 Share Posted January 6, 2021 4 minutes ago, longgone said: 🤣 could be worse you could have £3m quid worth of land in Nicosia and a house stolen by the turks in the 70`s. Famangusta is it? That deserted resort now on the Turkish side you can take a boat trip to see, sunbeds and umbrellas still on the beach unused. I believe technically they are still at war? Quote Link to comment Share on other sites More sharing options...
elephant Posted January 6, 2021 Share Posted January 6, 2021 20 minutes ago, MonsieurCopperCrutch said: No. I roughly remember it's: 12,300 is tax free then 37,000 is 10%. Then 950,000 total is 20%. Where did £950000 threshold come from? The HMRC page I linked to above doesn’t mention it and I can’t find anything on the net that refers to it. Quote Link to comment Share on other sites More sharing options...
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