Topic: Buying a house with bitcoin - page 6. (Read 6270 times)
ok then shit lol, thats kinda odd imo. If my GBP raises in value + housing stays same price i dont get capital gains tax if i buy a house.
guess i might aswell cash it out before i buy, oh well.
I'm pretty sure u can't avoid tax even if u use btc to buy a house.
Planning on buying a house in the UK with bitcoin when it goes to the moon in next price bubble. Buying with bitcoin will mean avoiding tax vs cashing out bitcoin before purchase in UK im pretty sure?
Im imagining issues of:
1.) Estate agents will still assume bitcoin is retarded money :/
2.) Negotiating for a lowball price will be harder with bitcoin
3.) General lack of choice, we need ebay to accept bitcoin or like a bitpay for property
Any tips about how to go about the procedure, has anyone bought a property with bitcoin? (if UK great!)
Im imagining issues of:
1.) Estate agents will still assume bitcoin is retarded money :/
2.) Negotiating for a lowball price will be harder with bitcoin
3.) General lack of choice, we need ebay to accept bitcoin or like a bitpay for property
Any tips about how to go about the procedure, has anyone bought a property with bitcoin? (if UK great!)
I dont think using Bitcoin would let you avoid tax, they will use it to calculate the actual value in USD and still tax you.
Buying with bitcoin will mean avoiding tax vs cashing out bitcoin before purchase in UK im pretty sure?
I am not specifically knowledgeable about UK tax law, but I would pretty much guarantee you that it doesn't necessarily have to be a cash sale to qualify as a capital gain. You would most likely owe on the difference between the fair market value of the house on the day of purchase versus the basis price of your Bitcoins.
Planning on buying a house in the UK with bitcoin when it goes to the moon in next price bubble. Buying with bitcoin will mean avoiding tax vs cashing out bitcoin before purchase in UK im pretty sure?
Im imagining issues of:
1.) Estate agents will still assume bitcoin is retarded money :/
2.) Negotiating for a lowball price will be harder with bitcoin
3.) General lack of choice, we need ebay to accept bitcoin or like a bitpay for property
Any tips about how to go about the procedure, has anyone bought a property with bitcoin? (if UK great!)
Im imagining issues of:
1.) Estate agents will still assume bitcoin is retarded money :/
2.) Negotiating for a lowball price will be harder with bitcoin
3.) General lack of choice, we need ebay to accept bitcoin or like a bitpay for property
Any tips about how to go about the procedure, has anyone bought a property with bitcoin? (if UK great!)
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