Topic: Income Tax losses (Read 178 times)
that is good news especially for investors, this will attract investors so that the amount of investment will increase significantly, because basically investors hope a low tax rate
Income Tax losses
An individual who is trading may be able to reduce their Income Tax liability by offsetting any losses from their trade against future profits or other income. HMRC’s Losses: HS227 Self Assessment helpsheet has more information (including restrictions that apply).
If profits from activities are taxable as miscellaneous income, losses may be able to be carried forward to later years. More information on this can be found in helpsheet HS325: other taxable income.
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals
New clarification by uk gov, quite imporant I'd say.
If you invested in 2017, you may pay less tax on your earnings.
An individual who is trading may be able to reduce their Income Tax liability by offsetting any losses from their trade against future profits or other income. HMRC’s Losses: HS227 Self Assessment helpsheet has more information (including restrictions that apply).
If profits from activities are taxable as miscellaneous income, losses may be able to be carried forward to later years. More information on this can be found in helpsheet HS325: other taxable income.
https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals
New clarification by uk gov, quite imporant I'd say.
If you invested in 2017, you may pay less tax on your earnings.
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