Hello all, I'm so glad to have found this forum!
About 3 years ago I started accepting Bitcoin for a very unique (legal) service that I offer, and it exploded in popularity to the tune of £10k a month. As a person who'd never seen more than a £1000 bank balance I'm now completely out of my depth I really really need some help! I've filled 4 UK bank accounts to the FSCS insured maximum limit of £85k and have 100k under the mattress, and I may have forgot to tell the tax man about it all and am now bricking it. I have been using localbitcoins.com to UK bank accounts in small amounts, and a bitcoin debit card to take out cash - which I now have entirely too much of. I need a plan!
It is now clear to me that I really can't spend this money to buy a house or a flashy car without declaring its source and losing half of it in taxes. So its well past time to start moving funds offshore, and sending future income that way too, perhaps starting a company, and looking at options to legally continue trading outwith the reach of the UK tax man.
So I'm really hoping someone will take pity on me and give me some guidance. I've read and read the forums the last few days, but I can't quite find the right plan and way forward for me.
I think I can be a lot of help for those who need document scans for various purposes, as I have a nice collection of templates and some serious photoshop skills....
Anyway, hello again, and if anyone can point me in the right direction or is willing to have a chat with me, I'd sure appreciate it!
Scanman.
About 3 years ago I started accepting Bitcoin for a very unique (legal) service that I offer, and it exploded in popularity to the tune of £10k a month. As a person who'd never seen more than a £1000 bank balance I'm now completely out of my depth I really really need some help! I've filled 4 UK bank accounts to the FSCS insured maximum limit of £85k and have 100k under the mattress, and I may have forgot to tell the tax man about it all and am now bricking it. I have been using localbitcoins.com to UK bank accounts in small amounts, and a bitcoin debit card to take out cash - which I now have entirely too much of. I need a plan!
It is now clear to me that I really can't spend this money to buy a house or a flashy car without declaring its source and losing half of it in taxes. So its well past time to start moving funds offshore, and sending future income that way too, perhaps starting a company, and looking at options to legally continue trading outwith the reach of the UK tax man.
So I'm really hoping someone will take pity on me and give me some guidance. I've read and read the forums the last few days, but I can't quite find the right plan and way forward for me.
I think I can be a lot of help for those who need document scans for various purposes, as I have a nice collection of templates and some serious photoshop skills....
Anyway, hello again, and if anyone can point me in the right direction or is willing to have a chat with me, I'd sure appreciate it!
Scanman.
