[2018-01-22] - Massive Bitcoin Tax Loophole Could Drain The HMRC

[igotBAWS]

The HMRC is at the risk of losing millions in taxes to cryptocurrency investors. The Treasury may lose several million so pounds due to a tax loophole that was created during the cryptocurrency bull run during the last quarter of last year. This loophole according to an HRMC spokesperson is a huge one. The “backdoor” […]

Source: https://www.coinstaker.com/cryptocurrency-tax-loophole-drain-the-hmrc/

[Harlot]

Never thought of it that way. Even something lile HMRC consider Crypto Trading earnings as gambling winnings is a bad idea as people can get away of not paying there taxes. Nevertheless if this pushes through the court I think this will fade as the court will see that it will be counted as capital gains as it is similar to normal trading of stocks. This is really not an issue anymore what they need to face right now is people who are evading there taxes because of their crypto.