I’m new to sweatcoin. The things I can buy are fun, but I’m much more interested in the notion of sending coins from person to person in payment for things- a proper currency.
I help a couple of elderly people with gardening. I have a day job so I’m a 40% U.K. tax payer. My gardening clients keep offering to pay me but I think it’s really silly to take their money and me give 40% to the tax man. Since they walk their dogs up and down the street I’m wondering whether sweatcoins would allow them the dignity of being able to pay me without increasing my tax liability?
Has anyone here got to grips with the practicalities and tax liabilities of such an arrangement?