8 figure crypto exit strategy - UK edition

[backpacker]

Not missing anything because the info‍ of the Australian Taxation office which I posted in #98 already mentions the "Temporary Resident⁠ Visa" and it's tax implications.
It is widely known that this status is very often⁤ misinterpreted. No (reputable) lawyer would advise a client to build a "strategy" on this status.⁣
So, in order to prevent people from wasting too much time on it, I suggest⁢ to read the following -> Are you really a temporary tax resident? - William Buck︀ Australia .

 

[Battura]

Agree that you need to be careful on where your "residency" is. A brit on‌ a fixed duration working holiday visa pulling pints for 6-12 months seems unlikely to fit‍ the criteria of a resident. I'd still get advice on that before making any big⁠ moves.

 

[JohnnyDoe]

I know a good and friendly tax advisor in the UK, formerly a HMRC prosecutor, so he knows his thing. PM if you want his contact details.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[satoshim]

I want to die right now. The world is so broken for this type of‍ complacency.

 

[JohnnyDoe]

satoshim said:
I want to die right now. The world is so broken for this type of complacency.
Click to expand...

Easy to be a socialist with other people's money stupi#21

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[boudica1]

Does Revolut work for personal accounts in Jersey? On their website it seems to list Jersey‍ for business accounts only

If so you could cash out through them. I know people⁠ who have put 7 figures out out of Revolut into UK banks

 

[oiernfoiuebnf]

Not sure if Revolut does new personal accounts in Jersey or not but I've had‌ an account there for over 5 years. When I tried to change the address and‍ tax residency section to Jersey in the app it gave a generic error message and⁠ I had to ask through support. I also pay for Metal so maybe that and⁤ the old account meant they were ok with it.

On Jersey's social security if you're⁣ unemployed or self employed you pay "class 2" contributions of 12.5% on any income and⁢ after checking with the tax office there's no minimum amount you must pay so it's︀ a good strategy to minimise income as much as possible. You pay based on your︁ income 2 years ago though so I had to work out my UK income for︂ the Jan-Dec calendar year 2 years ago and pay it on that.

 

[Peachs]

real diamond hands! enjoy the life sir!

 

[pjat555]

what route did you go for finally?
Having similar issues

 

[SoNewToAllShit]

Dubai is a no brainer

 

[icecold]

Is there anyone around here that would be able to give an explanation on how‌ to solve the issue legally and get as much reduction in taxes as possible?

 

[JohnnyDoe]

icecold said:
Is there anyone around here that would be able to give an explanation on how to solve the issue legally and get as much reduction in taxes as possible?
Click to expand...

If you read the thread you will find good hints and contacts.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​