Now I'm seriously wondering how hard is to fill taxes in the UK. I think I have done worse mistakes than a few cents in crypto and all I got was having to resubmit the forms.
Edit: On second thought, I don't own a business, so I guess nobody is going to look into my tax fillings with the same suspicion since they do not expect me to be doing anything funny with my accounting.
Re:Apple cuts off Beeper Mini's access
by fauigerzigerk on Saturday December 09, 2023 @09:14AM
(#38582069)
>Now I'm seriously wondering how hard is to fill taxes in the UK
Doing it correctly is non-trivial. You have to submit a so called computation for each individual disposal, which can easily run into several pages.
The algorithm for working out the cost of a disposal is actually a pretty interesting test case for learning a new programming language or paradigm. Try implementing UK share identification rules in SQL for instance :)
Tax law. In the UK, every single payment in cryptocurrencies, however small, is a taxable disposal that you have to include in your tax return if your total proceeds or gains from all investments are above a certain threshold.
I'm not ideologically opposed to cryptocurrencies and neither is my wife. She's just allergic to anything that could potentially raise tax questions.