Bitcoin : Cashing out BTC profits

Bitcoin : Cashing out BTC profits


so I have been selling BTC for cash for quite some time now. I’m based in the UK and I have been buying my BTC via cash in the mail and selling it in person.

I’m now at the point where I have gathered a large some of cash that I would like to deposit into my bank.

My question is:

1.) Do I tell the bank I’ve been selling BTC and this is where it’s come from?

2.) If I did tell them that it’s come from selling BTC are they going to allow me to deposit it?

3.) Will I have to show them all of my transaction history to prove where it has come from?

4.) If I do deposit the money successfully at what point do I need to pay tax on my earnings?

I bank with HSBC and another local bank.

Any help would be highly appreciated,

Thank you.

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Author: tomshelbb

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