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Capital gains tax v income tax

Bitcoin Reddit

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Hi, in the UK we have 20% CGT and also 20% income tax (upto 50k). We are currently looking at buying a house, using some of the bitcoin profits as a deposit, so we will obviously need to pay some CGT.

Is there any way i can use my bitcoin profits to include as taxable income? So, say i decide to take out 20k of bitcoin to use as a deposit, i would be paying Β£4k in CGT. If i were to somehow, through a 'crypto business' that i could register with companies house, funnel this 20k into that and declare it as income, which would then increase how much we could borrow for the mortgage?

Thanks for any advice.

submitted by /u/Substantial-Skill-76
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