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  1. O

    South Korean Friend

    This interview is a good one on the japan premium trade (starts talking about it at 23 mins), but yeah I'm sure some people got round the closed off KRW.
  2. O

    8 figure crypto exit strategy - UK edition

    Going for the non split year is probably the best choice, but I need to accept that by waiting until April to do that crypto will have changed in value much more up or down than the 20% I'll save from CGT. Such is the world of crypto, I'm used to it now.
  3. O

    8 figure crypto exit strategy - UK edition

    Yeah that's why I'm very unlikely to go for the split year and just move at the end of the tax year in April. I'd still get the job and stay longer in Jersey than I'd technically need to even if not using split year. I'm willing to do quite a lot in the first year with the "sale" to make sure...
  4. O

    8 figure crypto exit strategy - UK edition

    Portugal has a high CGT but bitcoin is excluded as it's seen as money - there was an official ruling a while back that confirmed this I'd have to dig out. I think Germany after brexit would be more difficult to get in and take longer. Can't see any advantages over Jersey tbh other than it's a...
  5. O

    8 figure crypto exit strategy - UK edition

    Hi avidx, thanks - losing 90% of my wealth in 2015 and again in 2019 was definitely not fun! I did look into Cayman but not sure I would want to live there for 6 months a year, will keep it on the radar though. The reason I have been drawn to Jersey the most at the moment is that it's the...
  6. O

    8 figure crypto exit strategy - UK edition

    Not true unfortunately, when you pay for something directly with crypto it is also seen as a taxable event. You have to work out the fair market value of both the crypto and the thing you are buying (toothbrush or house) and then compare that with the price you paid to buy the crypto in the...
  7. O

    8 figure crypto exit strategy - UK edition

    Hi Untangle, yes but each time you spend BTC it's seen as a taxable event and capital gains calculations and tax are applied (in the UK if you gain over about £11k a year then you start paying the 20% on it. It's also a big hassle to track all the calculations). I also don't want to be 100%...
  8. O

    8 figure crypto exit strategy - UK edition

    Hi Jerry, I'd sell all at once to rebase the cost basis to the higher amount, then rebuy 50% as I don't want to lose exposure to btc. I like grittier, up and coming places and think they're more fun for people like me still in their twenties. Plenty of time to take it easy somewhere boring when...
  9. O

    8 figure crypto exit strategy - UK edition

    I'm hopeful I would be ok with transfers to UK banks (from friend's experiences and research some banks are ok and others are not), as well as in Jersey/Gibraltar as they have both have branches from UK banks there and the governments have actively tried to promote crypto related business there...
  10. O

    8 figure crypto exit strategy - UK edition

    Hi Khinkhali, I tried to read the 201 link but there's no english translation available. To be honest I'd rather pay some tax in Georgia for the first year I'm there. If HMRC do audit me after seeing deposits come into my UK bank and no subsequent tax return, then I'd like to have a record of...
  11. O

    8 figure crypto exit strategy - UK edition

    Yes the UK used to be a lot less clear with it's requirements on remaining non-tax resident but since they released the latest guidance it is very specific and clear what the ties are and how long you can stay in the country each year depending on how many you have. If it was less clear I'd...
  12. O

    8 figure crypto exit strategy - UK edition

    Uk's not like that thankfully, no exit taxes at all, just the restrictions on only being able to stay in the UK as a visitor for a maximum period each year without getting dragged back into the tax net. I've reviewed all of the ties treatment for becoming non UK tax resident and there's no tie...
  13. O

    8 figure crypto exit strategy - UK edition

    Hi NoKYC, thanks for the advice. To be clear I was never proposing doing anything non-legal, I am going to be completely transparent and just move to a country which has no capital gains taxes. It's perfectly legal in the UK to leave the country and cash out any investments elsewhere - the only...
  14. O

    8 figure crypto exit strategy - UK edition

    Hi all, shout out to Freebit for the EU perspective, his thread was v useful. So glad to have found a good forum where people talk about this stuff, getting tired of asking anything on reddit and 80% of the responses being "pay your taxes". I'm a long term btc/crypto investor, bought in early...

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