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Cryptocurrency holdings declaration?

  • 10-05-2020 11:06am
    #1
    Jsmac67
    Closed Accounts Posts: 120 ✭✭


    Hoping to apply for a mortgage in the near future,

    One quick question, I realised I've a cryptocurrency holding dating back 3/4 years. Is this something I should be declaring within my application?

    The balance is well less than 5k at today's rates, but I'd be reluctant to declare this as an investment/savings amount if not necessary!

    Thanks all


Comments

  • #2
    nutjobb
    Registered Users, Registered Users 2 Posts: 91 ✭✭nutjobb


    Personally I wouldn't declare that. Once you have your 6 month savings in your account statements with no risky spending (gmabling) you should be fine provided you are in secure employment.

    I never declared my holdings when I was applying. It wouldn't surprise me if the bank viewed it as a form of gambling as it is so volatile..


  • #3
    Chris_5339762
    Registered Users, Registered Users 2 Posts: 6,064 ✭✭✭Chris_5339762


    Just bear in mind that if you have made a profit on those holdings, that you would have to make a Capital Gains Tax declaration.


  • #4
    Jsmac67
    Closed Accounts Posts: 120 ✭✭Jsmac67


    Chris_5339762 wrote: »
    Just bear in mind that if you have made a profit on those holdings, that you would have to make a Capital Gains Tax declaration.

    If they gains were crystalized, so not applicable at present.


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