From UK, Withdrawing a LOT of bitcoin - Advice - page 2.

Slark

legendary

Activity: 1862

Merit: 1004

Quote from: SpecialFish on July 21, 2016, 06:16:56 AM

Roughly 25 BTC per week.

Wow, you must be really big fish if your salary is 25 BTC a week. Gratz. Do you really have to sell all of your bitcoin at once?
Why don't you wait and sell smaller amount of BTC in batches? Instead of selling everything at once?
Or you can save some for later, price of BTC most likely will be higher. Your last account was closed down because you 'used' bitcoin or you had unconfirmed large amount of money transferred to you regularly?
Because it is a difference.

Capradina

hero member

Activity: 756

Merit: 520

I think it wouldn't be a problem, if you do a withdrawal to your bank account by the amount of the standard. Because usually all banks do a selection from those who have income above standard with work that they tekuni.

SpecialFish

newbie

Activity: 12

Merit: 0

Hi,

I am working on a project for a big company, soon I should be getting paid when I get the service up and running correctly. Roughly 25 BTC per week.

If I withdraw this to my bank via Localbitcoins its going to look suspicious. I think.

I dont want to tax dodge, but is opening an offshore account the best thing to do in this situation. I am really stuck, should I just be honest with tax office/bank and say im getting paid in BTC and will have different people depositing to my account.

one of my last bank accounts was closed down because I used Bitcoin generally.

Thanks for any help.

PS: Mods, if this is in the wrong section feel free to move, sorry.

Topic: From UK, Withdrawing a LOT of bitcoin - Advice - page 2. (Read 1465 times)