Calculate your Bnk To The Future crypto taxes

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Sam Adams
Samantha Adams
Head of Content

Recap has integrated with Bnk To The Future to simplify your crypto and private-equity tax calculations. Upon signing up for Recap, users can link their Bnk To The Future account to monitor each transaction securely, manage their cryptocurrency portfolio, and streamline the tax reporting process.

* Disclaimer: The information provided in this content does not constitute tax advice and should not be taken as such. Both Recap and Bnk To The Future explicitly do not endorse each other for tax advice. If you have any uncertainties regarding financial or tax-related matters, it is strongly recommended to consult with a qualified tax professional. Additionally, Recap features allow for the sharing of information with accountants and professional advisors for further assistance.

What is Bnk To The Future?

Bnk To The Future is the longest standing company in Bitcoin and the world's first regulated crypto securities business.

How to automate your Bnk To The Future crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Bnk To The Future account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability based on HMRC, IRS, or SARS tax rules.

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How are Bnk To The Future Transactions Taxed?

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

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto to fiat
Making a pitch investment with fiat
Making a pitch investment with crypto
Receiving dividends
Staking transfer events
Earning staking rewards
Buying shares on the secondary market (USD)
Selling shares on the secondary market

The transaction classifications provided are for informational purposes only and do not constitute professional tax advice from either Recap or Bnk To The Future. It's important to recognise that this overview is not exhaustive; it may not cover all conceivable tax scenarios or be applicable in every jurisdiction.

For a deeper dive into crypto tax, we encourage you to consult our detailed tax guides.

Help Guides

Connecting your Bnk To The Future account

A step-by-step guide for connecting your Bnk To The Future 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 Bnk To The Future tax reporting - takes 5 mins.

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    Sign up to Recap

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    Set up auto sync with our step by step guide

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

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FAQs

How am I taxed on my Bnk To The Future transactions?

When investing in Bnk To The Future, the tax implications depend on your method of investment and the investment's outcome. Investing with cryptocurrency is considered a disposal at market value, leading to capital gains or losses, whereas fiat investments don't have immediate tax consequences. Gains from exit events are subject to capital gains tax, while losses may qualify for loss relief. Additionally, receiving dividends is typically an income tax event.

Is staking my ETH a tax disposal?

Our opinion is that Bnk To The Future is operating a validator-as-a-service business model. Bnk To The Future does not benefit from the staked ETH directly, so we believe there is no disposal of beneficial ownership. Recap is not authorised to offer tax advice, so please check with your tax advisor.

Do the tax authorities know about my Bnk to the Future transactions?

Tax authorities may become aware of your Bnk To The Future 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.