You can offset losses from the last 4 years against it I think. So if you had the foresight to lose £18k on GME/Bitcoin last year you'd be fine.
It will still attract CGT if you put it in your pension or in an ISA. In your pension it will offset some income tax, but it's not accessible like an ISA.
Possibly a good plan is to dump it into your pension until you hit the lower tax band for relief, and then do the same next year and so on until it's gone. That way you get 67% on top of what you pay in (for every £6 you put in you get £10 in the pension). If you dump all in at once and go into the 20% band, you benefit less. But in your pension you obviously have to wait until retirement to access it again.
Important to state that I am fucking miles out of my depth and you'd have to be bonkers to take my advice. I would at the very least ask on https://www.reddit.com/r/UKPersonalFinance/ if I were you, they are wizards. Or the MSE forum maybe.
You can offset losses from the last 4 years against it I think. So if you had the foresight to lose £18k on GME/Bitcoin last year you'd be fine.
It will still attract CGT if you put it in your pension or in an ISA. In your pension it will offset some income tax, but it's not accessible like an ISA.
Possibly a good plan is to dump it into your pension until you hit the lower tax band for relief, and then do the same next year and so on until it's gone. That way you get 67% on top of what you pay in (for every £6 you put in you get £10 in the pension). If you dump all in at once and go into the 20% band, you benefit less. But in your pension you obviously have to wait until retirement to access it again.
Important to state that I am fucking miles out of my depth and you'd have to be bonkers to take my advice. I would at the very least ask on https://www.reddit.com/r/UKPersonalFinance/ if I were you, they are wizards. Or the MSE forum maybe.