Tax and Contribution based ESA

Tomba26434
Tomba26434 Online Community Member Posts: 6 Listener
in Employment & Support Allowance (ESA)
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

  • calcotti
    calcotti Online Community Member Posts: 10,000 Championing
    Investments do not have any impact on ESA that is entirely contributions based.
  • Tomba26434
    Tomba26434 Online Community Member Posts: 6 Listener
    Brilliant news, thanks
  • Ross_Alumni
    Ross_Alumni Scope alumni Posts: 7,611 Championing
    I'm glad the above information has been helpful for you @Tomba26434 and best of luck with the crypto currency investment.
  • Tomba26434
    Tomba26434 Online Community Member Posts: 6 Listener
    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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