Crypto

I have been dealing in crypto using an offshore agent. The gains have been good. However when I have tried to withdraw my capital I have been told that I must pay the broker the cgt before they will release my funds. This sounds wrong to me. Please tell me if this is correct or not. Perhaps it is a scam

Hi
This is incorrect, and I agree it is likely a scam.  Any gains arising are declared by the individual to HMRC on a tax year basis, are charged by HMRC and paid to HMRC. I would suggest that the individual contact the agent directly rather than electronically as it sounds like electronic communication has been compromised.

Is it the same when it is an offshore brokerage

Hi,

Yes, it is the same.

Thank you.

I have the same problem here I have made 45000 usdt and the app is asking me to pay tax to them as they acting as a broker for HMRC. To wich I replied I won't pay I'm not converting the crypto to money just want to move it to another wallet. To wich they replied if you don't pay the tax your money won't be released. Would post a emailed transcript of the conversation, but I don't think I can. What shall I do ?

Hi
This is between you and the online platform.