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Tax and Contribution based ESA
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Tomba26434
Community member Posts: 6 Listener
I want to invest in Cryptocurrency and after some research I have found out that any gains are subject to Capital Gains Tax and any passive income is subject to 'miscellaneous' income tax. Does anyone know whether such investments would impact my ESA?
Comments
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Investments do not have any impact on ESA that is entirely contributions based.Information I post is for England unless otherwise stated. Rules may be different in other parts of UK.
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Brilliant news, thanks
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I'm glad the above information has been helpful for you @Tomba26434 and best of luck with the crypto currency investment.
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Trading in crypto currency should come with a very clear warning, there are many rogue "traders" out there, and the value of C.C can fluctuate wildly.
My advice would be to tread carefully.2024 The year of the general election...the time for change is coming 💡 -
Thanks for the warning @woodbine. I appreciate the dangers and have done a lot of research. I will definitely ensure that I only invest what I am willing to lose.
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