How to Avoid Paying Tax on Crypto

Hello.

So I made a video on cryptocurrency, specifically about the tax that we pay on cryptocurrency, and the video has done pretty well.

So as a result, a load of people who know a hell of a lot more than I do about cryptocurrency have left comments suggesting ways that they think that you can avoid that capital gains tax.

So in today's video, let's put their theories to the test.

Panama has shown more than anything is that there's one rule for the rich and one rule for the rest.

[upbeat music] It seems like if you're a big business, not paying tax is easy.

Corporations are literally going wild over this.

They have tax havens in far-flung destinations, parking pounds in Panama for seven-figure savings.

Of one of the biggest ever leaks of offshore secrets.

Wild over this.

Life insurance borrowing is just another thing corporations use to keep HMRC wondering.

Wild over this.

And shell companies provide healthy subsidies to support their fat cat corporate gluttony.

But what about us? It can often feel like there's two sets of rules when it comes to tax.

There's us normal folk that pay tax on absolutely everything, when we earn it, spend it, invest it, or even if we give it away, and then there's these huge corporations that seem to get away with paying next to nothing on billions of pounds worth of profit.

So can we all act like shady corporations or sleazy billionaires and dodge ourselves a little bit of tax?

Well, Ali is asking for it.

Don't be crying again.

I wanna clarify, I'm not against paying tax, unlike a lot of the people in my comments section.

Tax is theft.

Look, no one likes paying tax, and trust me, I pay my fair share.

But at the end of the day, I like living in a country where any child can get a free education, and that I know that if I get poorly, there's gonna be a high-quality medical care there for me.

Yeah, people take the Mick out the benefits system, and that annoys me, but it's like getting annoyed when you go to a free bar at a works do or a wedding because there's always that one chopper at the bar ordering a treble vodka Red Bull and rinsing through the tab.

I hate that guy, but it doesn't mean I want the free bar to stop.

But if someone tells me that there is a compliant and legal way to avoid or reduce my overall tax bill, I am all for it, and I'm definitely gonna explore it and try and share it with you guys.

Hello.

So I made a video on cryptocurrency, specifically about the tax that we pay on cryptocurrency, and the video has done pretty well.

So as a result, a load of people who know a hell of a lot more than I do about cryptocurrency have left comments suggesting ways that they think that you can avoid that capital gains tax.

So in today's video, let's put their theories to the test.

Panama has shown more than anything is that there's one rule for the rich and one rule for the rest.

[upbeat music] It seems like if you're a big business, not paying tax is easy.

Corporations are literally going wild over this.

They have tax havens in far-flung destinations, parking pounds in Panama for seven-figure savings.

Of one of the biggest ever leaks of offshore secrets.

Wild over this.

Life insurance borrowing is just another thing corporations use to keep HMRC wondering.

Wild over this.

And shell companies provide healthy subsidies to support their fat cat corporate gluttony.

But what about us? It can often feel like there's two sets of rules when it comes to tax.

There's us normal folk that pay tax on absolutely everything, when we earn it, spend it, invest it, or even if we give it away, and then there's these huge corporations that seem to get away with paying next to nothing on billions of pounds worth of profit.

So can we all act like shady corporations or sleazy billionaires and dodge ourselves a little bit of tax?

Well, Ali is asking for it.

Don't be crying again.

I wanna clarify, I'm not against paying tax, unlike a lot of the people in my comments section.

Tax is theft.

Look, no one likes paying tax, and trust me, I pay my fair share.

But at the end of the day, I like living in a country where any child can get a free education, and that I know that if I get poorly, there's gonna be a high-quality medical care there for me.

Yeah, people take the Mick out the benefits system, and that annoys me, but it's like getting annoyed when you go to a free bar at a works do or a wedding because there's always that one chopper at the bar ordering a treble vodka Red Bull and rinsing through the tab.

I hate that guy, but it doesn't mean I want the free bar to stop.

But if someone tells me that there is a compliant and legal way to avoid or reduce my overall tax bill, I am all for it, and I'm definitely gonna explore it and try and share it with you guys.