In UK & fucked up in crypto in 2017? Income Tax losses

[ODINN]

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 and got loss, you may pay less tax on your earnings.

[WalkerIVIV]

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 and got loss, you may pay less tax on your earnings.

Lol is this for real? even the guy who has lost million dollars must pay the tax. It's such a robber. It doesn't make sense to give the tax for those speculators in 2017. It might better to give the tax for those are creating huge money.

[ODINN]

they also expect you to pay taxes on gains...