Hey everyone, can you help me get my head around

Question

Hey everyone, can you help me get my head around

the benefits borrowing in the UK, I know we have to sell the assets to Celsius (taxable event) but why not just sell on the open market? Can we buy them back from Celsius at the same price we sold? Otherwise as far as I can see there is no point in taking a loan

0

27.09.2021

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Mr Blues

the point is you do not need to sell your coins on the open market. if you sold a chunk of your BTC on the open market and then decided to buy it back 6 months later, BTC maybe worth 15% more that 6 months prior. so you would lose.

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27.09.2021

DJ Denon

Hey Martin, I need to ask you why you say; taking a Celsius UK Loan is a TAXABLE EVENT ??? I'm sure the premise of taking a loan direct to an IBAN bank account in USD is not a taxable event in the UK ?

0

27.09.2021

Martin Hannington Автор вопроса

It’s not a loan in the uk it’s a sell and repurchase agreement, hence its taxable

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27.09.2021

RobCryptoUK · Accepted Answer

RobCryptoUK

The 'loan' in the UK is a Sale & Repurchase agreement in which you sell your crypto to Celsius and have the right to buy it back at the same price.

0

27.09.2021

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Hey everyone, can you help me get my head around

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