Replying to Avatar Gart

If you buy anything with btc you are essentially selling it. The UK hmrc requires you to record the GBP price at that point and use that for capital gains calculations.

Not sure how it works in other regions but I would imagine it is similar.
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Gart 2y ago

I guess that would also apply to zaps too. As the GBP value is so small and you get a certain amount of capital gains tax allowance, it shouldn't be an issue. Unless you are zapping a huge amount 😀⚡

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Code & Psychology ⚡️ 2y ago 💬 1

But for the receiving end, in certain cases it can be handled as a tip, which in certain countries are not taxed.

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Account deleted 2y ago

Donations are not taxed (or only partially taxed) up to certain amounts in a bunch of countries.

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Gart 2y ago

Yeh again not sure about tips in other countries but you are required to pay income tax on tips in the UK. Good luck to hmrc tracking 21 sat zaps ⚡