Bitcoin price $100K for the first time

[Perthite]

When people have made gains on crypto, are they declaring them to HMRC and paying the required capital gains tax?

[Nomis]

Originally Posted by Perthite

When people have made gains on crypto, are they declaring them to HMRC and paying the required capital gains tax?

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Unlikely

[Pinchy]

Originally Posted by Nomis

Unlikely

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I don't think having another way to be dishonest is going to make much difference to the number of honest people that do the right thing anyway.

The whole dishonesty/criminality thing will unfortunately skew the ownership of bitcoin which is not what the inventor intended.

Ironically it was the early criminality (as well as making money just by leaving the computer on) that got me so interested. Criminals were trusting it with huge sums - so it must work.

[Moorlandman]

Originally Posted by Perthite

When people have made gains on crypto, are they declaring them to HMRC and paying the required capital gains tax?

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Yes but I doubt many do. HMRC have access to find out who owns crypto but I doubt they have resources to check what a small investor is doing.

[tspill]

Originally Posted by Perthite

When people have made gains on crypto, are they declaring them to HMRC and paying the required capital gains tax?

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There will always be honest law abiding people who will; just likely there will always be those that think they are above the law and wont.