Wealth99 has changed how it works. Since 31 January 2025 UK and EU clients can no longer withdraw crypto: holdings are sold and taken out as cash instead, which makes that sale a disposal for capital gains purposes. Deposits, selling to cash, cash withdrawals and transfers between Wealth99 accounts all still work, and Recap still syncs the account directly. Connect it and we classify and value every transaction, including anything you sold around that change.
Disclaimer
The information provided in this content does not endorse Wealth99. 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 is Wealth99?
Wealth99 is a platform for investing in digital assets, tokenised real-world assets and other alternatives. It is moving from an exchange model towards a wealth platform, which is why crypto withdrawals ended for UK and EU clients on 31 January 2025.
What Wealth99 offers
Cryptocurrency Investments: allows users to invest in popular cryptocurrencies such as Bitcoin, Ethereum, and other altcoins.
Tokenized Assets: provides access to tokenized versions of real-world assets, enabling fractional ownership and easier access to traditionally illiquid investments.
Investment Diversification: offers a range of investment options aimed at helping users diversify their portfolios with both digital and traditional assets.
Educational Resources: provides educational materials and tools to help users understand digital asset investing and make informed decisions.
How to automate your Wealth99 crypto taxes with Recap
You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Wealth99 account to Recap. Our system classifies and values every transaction with our fair-market valuation engine, then works out your tax liability.
Auto Sync with Wealth99 How are Wealth99 transactions taxed?
Tax implications on your Wealth99 transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Wealth99:
| Transaction type | CGT disposal | CGT acquisition | Income |
|---|---|---|---|
| Deposits | CGT disposal: no. No disposal on the deposit itself. If Wealth99 charges a deposit fee in crypto, Recap records that fee as a disposal of the fee asset. That fee also forms part of the deposit's cost basis. Fiat fees are not chargeable. | CGT acquisition: no | Income: no |
| Withdrawals | CGT disposal: no. No disposal on the withdrawal itself. A network or withdrawal fee paid in crypto is recorded as a disposal of the fee asset. That fee also forms part of the withdrawal's cost basis. | CGT acquisition: no | Income: no |
| Buying crypto with fiat | CGT disposal: no. The fiat leg is not a chargeable disposal. Wealth99 market and limit order fees, and coin-package fees, are charged in crypto. Recap records that fee as a separate disposal of the fee asset, and it forms part of the trade's cost basis. Configurable: the 'deduct trade fees' setting instead nets a same-asset fee off the amount acquired. | CGT acquisition: yes. Crypto bought enters the section 104 pool at the value of the trade. | Income: no |
| Crypto to crypto | CGT disposal: yes. Disposal of the crypto sold at the trade's valued amount. A crypto trading fee is recorded as an additional fee disposal. That fee also forms part of the trade's cost basis. | CGT acquisition: yes. Crypto received is acquired into the pool at the same valued amount. Recap's default (for portfolios created after 2022-05-25): the quote side drives valuation. Configurable: the HMRC trade valuation method can use the disposed side instead. | Income: no |
| Selling crypto for fiat | CGT disposal: yes. Disposal of the crypto sold at the trade value. A crypto trading fee is recorded as an additional fee disposal. That fee also forms part of the trade's cost basis. | CGT acquisition: no. The fiat received is not a chargeable asset, so no pool acquisition arises. | Income: no |
| Earning staking rewards | CGT disposal: no. Moving funds into and out of Wealth99 Earn or Vault is imported as a simple stake or unstake. That generates no disposal of the principal in Recap, only a fee is a disposal. | CGT acquisition: yes. The reward also enters the section 104 pool at the same market value used for the income figure. | Income: yes. Reward payouts arrive from Wealth99 as 'bonus' entries and are imported as income, valued at market value on receipt. |
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.
This table shows Recap's default classification for common Wealth99 transactions. It is not an exhaustive schedule or a ruling. Treatment depends on your circumstances and jurisdiction, and you can recategorise any transaction where yours differ. Confirm your position with a qualified tax adviser.
Refer to our tax guides for a more detailed look at crypto tax rules.
