UK cryptocurrency tax sorted

Import your trades and let Recap crunch the numbers. Recap calculates your capital gains using the share pooling method and gives you all the information and reports you need for your HMRC self assessment returns.

UK cryptocurrency tax reports
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Built in collaboration with UK accountants & crypto tax specialists

The basics of crypto tax for UK individuals

The lowdown on what’s taxable, how it should be treated, how and where to report and what rate of tax you can expect to pay.

0
9
8
Days
left to file your 2019-20 Self Assessment tax return online

Fast crypto tax facts

Tax authority
HMRC (Her Majesty's Revenue and Customs)
Current filing tax year
2019-20
Filing tax year dates
April 6, 2019 to April 5, 2020
Filing deadline (online)
January 31, 2021
Applicable taxes
Capital Gains Tax, Income Tax & others
Capital Gains tax-free allowance
£12,000
Capital Gains rates
10% lower rate, 20% higher rate
Declared by
Self Assessment tax return or the 'real time' service
Useful links

What's actually taxable?

From selling to airdrops, here are the major crypto activities that need to be considered for tax in the UK.

Selling crypto for fiat
Trading crypto to crypto
Paying for goods & services with crypto
Mining crypto
Earning crypto
Rewards from staking, lending & referrals
Gifting or donating crypto
Airdrops
Found out more in our tax guide

How Recap works

1

Import your data

Connect to the top exchanges, upload CSV files and import transactions manually.

2

Check your gains and losses

See all your crypto holdings and view all historic trades and transactions. Check your capital gains.

3

Download your tax report

Get your full tax report ready for your accountant.

How it works

Frequently asked questions

What does HMRC classify as a cryptoasset?
HMRC defines cryptoassets as “cryptographically secured digital representations of value or contractual rights” that have the potential to be transferred, stored and traded electronically.
What's a disposal?
A disposal is the relinquishing of ownership of an asset during a transaction. For example, selling BTC is a disposal, since you no longer own the BTC. Whatever is received in return for the disposal is the disposal proceeds for tax purposes. Disposals can generate gains that are taxable under Capital Gains Tax.
Which taxes apply to cryptocurrencies in the UK?
The main taxes that apply to cryptocurrency gains or losses in the UK are Capital Gains Tax (CGT) and Income Tax. For the large majority of cryptocurrency users, CGT is the applicable tax.
What's an acquisition?
An acquisition is receiving of ownership of an asset during a transaction. For example, buying BTC is an acquisition, since you now own BTC. Whatever you pay to acquire the asset are allowable costs for tax purposes. Acquisitions can generate income that are taxable under Income Tax.

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