CoinCorner acquired Coinfloor's customer base and domains on 4 October 2021, and the Coinfloor brand was retired. Customers had until 4 November 2021 to move or close their accounts, and any account not actively closed was migrated to CoinCorner automatically, so you may hold a CoinCorner account without ever having opened one. Your Coinfloor trading up to that point is still your history and still needs reporting. Upload it to Recap and we turn it into a tax position.
Disclaimer
The information provided in this content does not endorse Coinfloor. Furthermore, it does not constitute tax advice. If anything financial or tax-related is unclear, speak to a qualified tax professional. You can also share your Recap account with your accountant or tax adviser directly.
What happened to Coinfloor?
Coinfloor was the UK's longest-running Bitcoin exchange, founded in 2013. CoinCorner took on its customers and domains in October 2021 and the brand was wound up. Activity after the migration belongs to your CoinCorner account, not this one.
What Coinfloor offered
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.
Sync 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 type | CGT disposal | CGT acquisition | Income |
|---|---|---|---|
| Deposits | CGT disposal: no. A plain deposit is not a disposal. Coinfloor CSV deposits always import with a zero fee; API deposits pass any fee in the deposited asset, and a crypto fee is recorded as a separate fee disposal of that fee amount. | CGT acquisition: no | Income: no |
| Withdrawals | CGT disposal: no. Moving crypto off Coinfloor is not itself a disposal. Coinfloor CSV withdrawals import with a zero fee; an API withdrawal fee is taken in the withdrawn asset and is recorded as a fee disposal of that fee amount. | CGT acquisition: no | Income: no |
| Buying crypto with fiat | CGT disposal: no | CGT acquisition: yes. The crypto bought enters the section 104 pool at the trade value. Coinfloor charges the fee in the counter asset (GBP), and because fiat is disposed for crypto Recap adds that fee to the acquisition cost. | Income: no |
| Crypto to crypto | CGT disposal: yes | CGT acquisition: yes | Income: no |
| Selling crypto for fiat | CGT disposal: yes. The GBP fee Coinfloor charges on a sale is deducted as an allowable cost against the disposal. | CGT acquisition: no | Income: no |
This table shows how Recap classifies each transaction type by default. Some treatments — such as the acquisition cost used for airdrops — are configurable in Recap. This is general information, not tax advice; consult a qualified tax professional about your circumstances.
These are Recap's default classifications, not tax advice. Any transaction can be recategorised in the app if your circumstances differ, and you should check with a tax professional if you are unsure.
Refer to our tax guides for a more detailed look at crypto tax rules.
