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    I am a tax resident in England, but I am a foreigner, do I need to complete a self assessment for the tax year 2021-2022 if I have sold my crypto assets at a lower price than I bought / at a loss? ( I am not self-employed )
  • TAX from crypto

    Good morning :) I have a problem for which I cannot get a clear answer because after searching the internet and several consultations, I have contradictory information. I will try to briefly describe the situation. I work full-time in England, I'm not registered as self-employed (I don't have a UTR number) and I'm not registered with any LTD. On 02/01/2022 I opened an account on the Binance exchange, deposited 980F and converted it to BUSD 1300. I bought a few cryptos for the whole amount and put them on staking, after a few weeks I canceled staking and exchanged all cryptos back on BUSD with a loss, then buy others, which also only lost value. Summing up, from 01/02/2022 to 05/04/2022 I sold all cryptos or exchanged at a loss, I never went to FIAT, I interrupted the stacking I completely didn't really make a dollar on it (basically a wolf from a wallstreet heh). Now to the point, I learned that the CGT tax is in force only from 12.300F and self assessment must be completed when my profits exceed 1000F, I also obtained information that despite the losses or the same losses as in my case, I should document my FORM 8949 IRS transactions and there was probably another form of 1099-B. Ultimately my question is what should I do with my unfortunate transaction history for these 2 months. Should I apply for a UTR number and, despite the losses, do a self assessment or is it enough to document these transactions on these forms? Or is it possible to leave this story for the next tax year and use it to reduce the tax on any possible profits. Please be clear what I should do about it Best regards and have a nice day.