Anonymous
Anonymous asked in Business & FinanceTaxesUnited Kingdom · 8 months ago

What type of tax do i pay if i sell bitcoin that was gifted to me?

I was gifted bitcoin as my friend can't sell it because of her country. Would I have to pay tax on it. Would it be capital gains or income? I plan to send the money to her after I have sent it

4 Answers

Relevance
  • 6 months ago

    Cryptocurrency training system

    • Login to reply the answers
  • 8 months ago

    Income tax if you sell at a profit.

    • Login to reply the answers
  • 8 months ago

    Her 'gifting' it to you and you 'gifting' it back to her is tax fraud.

    • Login to reply the answers
  • 8 months ago

    It's income.

    • Login to reply the answers
Still have questions? Get your answers by asking now.