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Damien Hirst H10 • The Empresses, by Lord Lucas Roham on Feb 12, 2022 13:36:45 GMT 1, 40%? You need a better accountant. Plus when you split across two people with 2 x £12300 exemption and your talking a few grand or thereabouts. Do the said people not work then?
Capital Gains tax is 20% in the UK, 10% if your a low-rate taxpayer. You get a £12300 allowance.
Do I need to spoon-feed you?
Where did you get 40% from?
40%? You need a better accountant. Plus when you split across two people with 2 x £12300 exemption and your talking a few grand or thereabouts. Do the said people not work then? Capital Gains tax is 20% in the UK, 10% if your a low-rate taxpayer. You get a £12300 allowance. Do I need to spoon-feed you? Where did you get 40% from? |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:38:57 GMT 1, Do the said people not work then? Capital Gains tax is 20% in the UK, 10% if your a low-rate taxpayer. You get a £12300 allowance. Do I need to spoon-feed you? Where did you get 40% from?
Do the said people not work then? Capital Gains tax is 20% in the UK, 10% if your a low-rate taxpayer. You get a £12300 allowance. Do I need to spoon-feed you? Where did you get 40% from? Oh dear - you do realise that "Capital gains tax" does not apply to your scenario |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:45:17 GMT 1, Oh dear - you do realise that "Capital gains tax" does not apply to your scenario OK buddy.
You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just
2 of the offences of which you are currently commiting.
Before you pop up on the Internet trying to brag about the money you've made, you should consider
the consequences.
If you wish to be a criminal, you are a pretty dumb one to shout about it.
Best have a word with your own account, or consider getting a new one......
Oh dear - you do realise that "Capital gains tax" does not apply to your scenario OK buddy. Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... |
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Damien Hirst H10 • The Empresses, by Acme Thunderer on Feb 12, 2022 13:50:26 GMT 1, Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... A business 🤣🤣🤣🤣
Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... A business 🤣🤣🤣🤣 You are buying to make a profit = business |
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bluebird1
New Member
🗨️ 24
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February 2022
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Damien Hirst H10 • The Empresses, by bluebird1 on Feb 12, 2022 13:50:35 GMT 1, Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one......
LLR is a bit of an arse but selling three artworks does not make a business
Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... LLR is a bit of an arse but selling three artworks does not make a business |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:50:52 GMT 1, Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... A business 🤣🤣🤣🤣
pat the correct taxes.
You buy things to sell - capital gains does not apply to that scenario, up you are running a business
and fraudulently too!
Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... A business 🤣🤣🤣🤣 You could try getting a real job, or maybe register yourself as a business so you cover yourself and pat the correct taxes. You buy things to sell - capital gains does not apply to that scenario, up you are running a business and fraudulently too! |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:53:24 GMT 1, Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... LLR is a bit of an arse but selling three artworks does not make a business
Now time for you to get spoon fed..... You sir are running a business, and trying to palm it off as "Capital gains tax", fraud and tax evasion are just 2 of the offences of which you are currently commiting. Before you pop up on the Internet trying to brag about the money you've made, you should consider the consequences. If you wish to be a criminal, you are a pretty dumb one to shout about it. Best have a word with your own account, or consider getting a new one...... LLR is a bit of an arse but selling three artworks does not make a business Buying to sell for a profit makes a business, the rules are very clear and transparent - you may also note, he's not just sold 3 things, this "is what he does" as he does not have employment elsewhere, hence mentioning his tax free allowance. |
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Stripe
New Member
🗨️ 38
👍🏻 12
August 2021
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Damien Hirst H10 • The Empresses, by Stripe on Feb 12, 2022 13:53:45 GMT 1, You are buying to make a profit = business
Are you serious?? Every person who ever bought a stock was buying to make a profit...
You are buying to make a profit = business Are you serious?? Every person who ever bought a stock was buying to make a profit... |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:54:01 GMT 1, You're delusional mate. Now jog on please.  ??
You're delusional mate. Now jog on please. You didn't enjoy your spoon feeding then ?? |
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Damien Hirst H10 • The Empresses, by Lord Lucas Roham on Feb 12, 2022 13:55:03 GMT 1, You're delusional mate. Now jog on please. You didn't enjoy your spoon feeding then ??
You're ragdolled. On the ropes and no bell in sight.
You're delusional mate. Now jog on please. You didn't enjoy your spoon feeding then ?? You're ragdolled. On the ropes and no bell in sight. |
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bluebird1
New Member
🗨️ 24
👍🏻 28
February 2022
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Damien Hirst H10 • The Empresses, by bluebird1 on Feb 12, 2022 13:56:05 GMT 1, LLR is a bit of an arse but selling three artworks does not make a business Buying to sell for a profit makes a business, the rules are very clear and transparent - you may also note, he's not just sold 3 things, this "is what he does" as he does not have employment elsewhere, hence mentioning his tax free allowance.
TIL that everyone who buys to sell something for a profit is running a business and dodging income tax.
Feel free to post a link to these clear tax rules you mention
LLR is a bit of an arse but selling three artworks does not make a business Buying to sell for a profit makes a business, the rules are very clear and transparent - you may also note, he's not just sold 3 things, this "is what he does" as he does not have employment elsewhere, hence mentioning his tax free allowance. TIL that everyone who buys to sell something for a profit is running a business and dodging income tax. Feel free to post a link to these clear tax rules you mention |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:56:27 GMT 1, You didn't enjoy your spoon feeding then  ?? You're ragdolled. On the ropes and no bell in sight.
You didn't enjoy your spoon feeding then ?? You're ragdolled. On the ropes and no bell in sight. You certainly need to be careful about your Internet bragging of illegal activity - you are a criminal, and criminal's get caught! |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 13:57:39 GMT 1, Buying to sell for a profit makes a business, the rules are very clear and transparent - you may also note, he's not just sold 3 things, this "is what he does" as he does not have employment elsewhere, hence mentioning his tax free allowance. TIL that everyone who buys to sell something for a profit is running a business and dodging income tax. Feel free to post a link to these clear tax rules you mention
Buying to sell for a profit makes a business, the rules are very clear and transparent - you may also note, he's not just sold 3 things, this "is what he does" as he does not have employment elsewhere, hence mentioning his tax free allowance. TIL that everyone who buys to sell something for a profit is running a business and dodging income tax. Feel free to post a link to these clear tax rules you mention That's correct - if you buy something, to then sell for a profit you are running a business |
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Damien Hirst H10 • The Empresses, by sixftjellybaby on Feb 12, 2022 13:58:13 GMT 1, May be a silly question but here goes can i download a high res image of my nft anywhere on the heni site like i can do with "the currency"?
May be a silly question but here goes can i download a high res image of my nft anywhere on the heni site like i can do with "the currency"?
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klyde
Junior Member
🗨️ 1,125
👍🏻 501
May 2007
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Damien Hirst H10 • The Empresses, by klyde on Feb 12, 2022 14:00:12 GMT 1, You're ragdolled. On the ropes and no bell in sight. You certainly need to be careful about your Internet bragging of illegal activity - you are a criminal, and criminal's get caught!
Are you drunk?
You're ragdolled. On the ropes and no bell in sight. You certainly need to be careful about your Internet bragging of illegal activity - you are a criminal, and criminal's get caught! Are you drunk? |
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Damien Hirst H10 • The Empresses, by Acme Thunderer on Feb 12, 2022 14:00:47 GMT 1, You are buying to make a profit = business Are you serious?? Every person who ever bought a stock was buying to make a profit...
www.gov.uk/check-if-you-need-tax-return
You are buying to make a profit = business Are you serious?? Every person who ever bought a stock was buying to make a profit... I don’t make the rules. Sucks I know. Some of us have salary job and also pay extra tax when we make extra income. www.gov.uk/check-if-you-need-tax-return |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 14:07:39 GMT 1, You certainly need to be careful about your Internet bragging of illegal activity - you are a criminal, and criminal's get caught! I'm heading up to the local cop shop now to hand myself in. See you all in 20 years
responsibilities and tax liabilities are.
You certainly need to be careful about your Internet bragging of illegal activity - you are a criminal, and criminal's get caught! I'm heading up to the local cop shop now to hand myself in. See you all in 20 years I'd suggest you run your business activities by HMRC and they will advise you on what your responsibilities and tax liabilities are. |
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Damien Hirst H10 • The Empresses, by Black Wolf on Feb 12, 2022 14:11:40 GMT 1, The Hirst he's sold are NFTs, they are crypto assets, he probably doesn't do this for a living, its a side hustle, if thats the case then these are cap gains, charged at 10/20% based on his other 'income'
If he flipps loads of physical artworks (not NFTs) every month, thats an income, not a cap gains
The Hirst he's sold are NFTs, they are crypto assets, he probably doesn't do this for a living, its a side hustle, if thats the case then these are cap gains, charged at 10/20% based on his other 'income'
If he flipps loads of physical artworks (not NFTs) every month, thats an income, not a cap gains
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klyde
Junior Member
🗨️ 1,125
👍🏻 501
May 2007
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Damien Hirst H10 • The Empresses, by klyde on Feb 12, 2022 14:13:44 GMT 1,
Send screen grabs of this thread to www.illeaglbusiness/HMRC/butthurt.org.
You should get a response in 5 to 78 business days.
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 14:17:21 GMT 1, The Hirst he's sold are NFTs, they are crypto assets, he probably doesn't do this for a living, its a side hustle, if thats the case then these are cap gains, charged at 10/20% based on his other 'income' If he flipps loads of physical artworks (not NFTs) every month, thats an income, not a cap gains
Give HMRC a quick call and I'm sure they will be happy to offer a full explanation of the law.
The Hirst he's sold are NFTs, they are crypto assets, he probably doesn't do this for a living, its a side hustle, if thats the case then these are cap gains, charged at 10/20% based on his other 'income' If he flipps loads of physical artworks (not NFTs) every month, thats an income, not a cap gains He doesn't work, this is his living. He buys physical artworks with express intent to immediately sell on for a profit. Give HMRC a quick call and I'm sure they will be happy to offer a full explanation of the law. |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 14:18:46 GMT 1, Child!
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 14:20:22 GMT 1, Now LLR has disappeared - back to the art.
What are these trading out in "lala land" aka Cryto world right now?
Now LLR has disappeared - back to the art.
What are these trading out in "lala land" aka Cryto world right now?
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Damien Hirst H10 • The Empresses, by Black Wolf on Feb 12, 2022 14:21:38 GMT 1, although i agree, flipping physicals intentionally is clearly income
although i agree, flipping physicals intentionally is clearly income
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Damien Hirst H10 • The Empresses, by Acme Thunderer on Feb 12, 2022 14:24:17 GMT 1, For tax… it’s down to the individual to have the moral standards to declare. I won’t judge anyone if they do or don’t but I chose to pay tax (but then I don’t flip art).
This will help some people - If you complete a self assessment tax return by 30th December for the previous 5th April to 4th April, you can get your tax code adjusted for the following tax year, so you can avoid pay tax (legally) for nearly two years. If you complete your tax return between 31st December to 31st January, then you have to pay a lump sum instead. Therefore best to do it early.
You can go through the online process and not click submit, but will give you an idea if you do or don’t have to pay tax.
For tax… it’s down to the individual to have the moral standards to declare. I won’t judge anyone if they do or don’t but I chose to pay tax (but then I don’t flip art).
This will help some people - If you complete a self assessment tax return by 30th December for the previous 5th April to 4th April, you can get your tax code adjusted for the following tax year, so you can avoid pay tax (legally) for nearly two years. If you complete your tax return between 31st December to 31st January, then you have to pay a lump sum instead. Therefore best to do it early.
You can go through the online process and not click submit, but will give you an idea if you do or don’t have to pay tax.
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Damien Hirst H10 • The Empresses, by Black Wolf on Feb 12, 2022 14:27:21 GMT 1, I flipped some art last year (naughty me) and declared it, rather have a good nights sleep than boris knocking on my door
I flipped some art last year (naughty me) and declared it, rather have a good nights sleep than boris knocking on my door
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 14:28:19 GMT 1, although i agree, flipping physicals intentionally is clearly income
to sell for triple cost.
A simple check with HMRC will clear it up for anyone and ensure they are paying the appropriate taxes.
although i agree, flipping physicals intentionally is clearly income And that's our Guy LLR - Purchased one of those awful aiweiwei cats this week, the next day he's trying to sell for triple cost. A simple check with HMRC will clear it up for anyone and ensure they are paying the appropriate taxes. |
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Damien Hirst H10 • The Empresses, by Art Fan 2011 on Feb 12, 2022 14:29:27 GMT 1, I flipped some art last year (naughty me) and declared it, rather have a good nights sleep than boris knocking on my door
I flipped some art last year (naughty me) and declared it, rather have a good nights sleep than boris knocking on my door Boris may of bought some wine and cheese with him for you 😃 |
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Poster Bob
Junior Member
🗨️ 5,891
👍🏻 5,527
September 2013
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Damien Hirst H10 • The Empresses, by Poster Bob on Feb 12, 2022 14:30:40 GMT 1, Just declare it and pay it. It's a very easy process and larger transactions get reported anyways.
Just declare it and pay it. It's a very easy process and larger transactions get reported anyways.
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Richy Rich
New Member
🗨️ 624
👍🏻 865
September 2020
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Damien Hirst H10 • The Empresses, by Richy Rich on Feb 12, 2022 15:41:14 GMT 1, Jesus. I used to think LLR was a bit of a knobber but I take it all back. Artfan has comfortably proved there are much bigger bellends out there.
Jesus. I used to think LLR was a bit of a knobber but I take it all back. Artfan has comfortably proved there are much bigger bellends out there.
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