How to calculate your Coinfloor taxes

  • Exchange CSV
  • Recap CSV
1 min read
Last updated:
coinfloorSync Coinfloor CSV
Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Coinfloor that makes it easy to manage your crypto tax calculations. Upload your Coinfloor transactions to Recap to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

*Disclaimer: The information provided in this content does not endorse Coinfloor. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.

What is Coinfloor?

Coinfloor was a UK-based cryptocurrency exchange founded in 2013, providing a platform for users to buy and sell Bitcoin and other digital assets.

Here's a breakdown of what Coinfloor offered:

  • Bitcoin Trading: Specialised in Bitcoin trading, providing a platform for buying and selling Bitcoin with high liquidity and robust security.
  • Fiat Support: Allowed deposits and withdrawals in British Pounds (GBP) and other fiat currencies, facilitating easy conversion between fiat and Bitcoin.
  • OTC Trading: Offered over-the-counter (OTC) trading services for large-volume transactions, ensuring minimal market impact.
  • User-Friendly Interface: Designed a straightforward and user-friendly interface, making it accessible for both novice and experienced traders.

How to simplify your Coinfloor crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Add your Coinfloor account transactions to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.

coinfloorSync Coinfloor CSV

How are Coinfloor Transactions Taxed?

Tax implications on your Coinfloor transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Coinfloor:

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto for fiat

Refer to our tax guides for a more detailed look at crypto tax rules.

Help Guides

Adding your Coinfloor Account

A step-by-step guide for adding your Coinfloor CSV account to Recap.

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The Tax Screen

A guide to the tax screen.

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The Tax Reports

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Automate your Coinfloor tax reporting - takes 5 mins.

  • 1

    Sign up to Recap

  • 2

    Set up auto sync with our step by step guide

  • 3

    Generate your tax report ready to self-file or share with your accountant

coinfloorSync Coinfloor CSV

FAQs

Do I have to pay tax on my Coinfloor transactions?

Yes, you may need to pay tax on your Coinfloor transactions. Tax obligations vary depending on your country’s tax laws and the nature of your transactions. Common taxable events include selling cryptocurrency, trading between coins (crypto to crypto), and making purchases with crypto.

Do the tax authorities know about my Coinfloor transactions?

Tax authorities may become aware of your Coinfloor transactions through various means, such as data-sharing agreements between crypto exchanges and tax authorities or during tax audits. It's essential to report your crypto transactions to avoid penalties accurately. Using a crypto tax software like Recap can help ensure your transactions are properly recorded and reported.

What is the benefit of using a crypto tax calculator?

A crypto tax calculator automates the process of calculating taxes on your cryptocurrency transactions, providing accurate tax liability figures and ensuring compliance with tax regulations without manual calculations.