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Out of context: Reply #73408
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- shapesalad-1
Anyone here get paid in Crypto? Or know of anyone that does?
Especially in UK.I'm wondering how it works with tax. I presume you have to register as self-employed / LTD, and somehow invoice your job (or self?) and then withdraw the crypto from your wallet via an exchange to £ when you want to get paid...?
I've been offered a job that pays in crypto. So need to understand it better... and of course, ask QBN'ers firstly.
- and mini congrats to me for landing a job asap... pay cut from previous jobs, but crypto+100%remote = dream (I hope, if tax isn't tricky)shapesalad
- Ed lag imho********
- Red flag imho********
- They are a legit company.shapesalad
- I don't know about taxes but at this point the only crypto I'd consider being paid in are BTC and ETH, and the sum would have to beat being paid in $.spl33nidoru
- Unless your client is involved in a specific crypto with potential, in which case I would require obscene amounts of said crypto to agree to itspl33nidoru
- Only gains are taxable. And only when you exchange it for FIAT, or another coin. So, if you can pay other people in crypto, you might be ok. It's convoluted.DRIFTMONKEY
- Reminder that the tax implications are different in different countries********
- Ah.. I’ll give a whirl for awhile. Better than £0 or the uncertainty of freelance.shapesalad
- What’s crypto?scarabin
- Which crypto are they paying you in?yuekit
- If you get paid in a crypto that can be exchanged for drugs then I'd say its worthwhile. All the others are a nonsensewoowahesque
- USDT but i'll request USDC.shapesalad
- You've probs already seen this: https://www.gov.uk/g…Nairn
- Your problem here, I imagine, is the volatility of the payment - you get paid "1 crypto" now - what £ value is that immediately, then come tax time?Nairn
- I have a friend who got paid in crypto a few years back. It didn't end well, for very prosaic reasons. He now lives abroad for same prosaic reasons.Nairn
- Are employers allowed to state UK salaried positions in non-sterling? Might the equivalent be 'getting paid in stock options'?Nairn
- So wait they want to pay you in Tether? I guess that solves the volatility issue but is there some advantage over just regular fiat currency?yuekit
- Are tethers centralised?Nairn
- I still have some cash left from an old Monopoly game, can you help me with a logo design project?********