Recap has a comprehensive integration with Luno that makes it easy to manage your crypto tax calculations. Connect your Luno account to Recap to import your full history and automate your taxes. From 2026, tax authorities are widening the automatic reporting of crypto under frameworks such as the OECD's Cryptoasset Reporting Framework (CARF), so keeping an accurate record matters more than ever.
Disclaimer
The information provided in this content does not endorse Luno. 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.
Why Luno tax can be difficult to calculate manually
Luno is built for everyday buyers, and that is exactly what makes its tax position add up quietly over time. The job is rarely a single trade: it is often a long drip of small buys, sells and rewards across more than one currency. A few things tend to trip people up:
Volume and multiple currencies
- Lots of small recurring buys. Repeat and instant buys turn into a stream of separate purchases, each one adding to the cost-basis pool that every later disposal is measured against.
- More than one currency. Luno settles in several local currencies, so buys funded in different fiat all feed the same pool and need converting to your reporting currency at the right historical rate.
Rewards and recordkeeping
- Rewards. Rewards you earn are generally treated as income, valued when you receive them, and they arrive as a steady trickle that is easy to overlook.
- Records you can lose access to. If you stop using Luno, migrate to another exchange or lose access to your account, your statements can become harder to reach, so capturing a complete history while you still can matters.
How to import your Luno data into Recap
Connect your Luno account to Recap by API and we import your full history automatically, including buys, sells, deposits, withdrawals and any rewards, even if your account goes back many years. Recap classifies and values every entry with our fair-market valuation engine, converting purchases made in other currencies as it goes, and applies the tax rules for your jurisdiction.
Auto Sync with Luno How are Luno transactions taxed?
Tax treatment depends on the transaction type and where you are tax resident. Here is how the main Luno activities are generally treated:
| Transaction type | CGT disposal | CGT acquisition | Income |
|---|---|---|---|
| Deposits | CGT disposal: no. Any Luno deposit fee is itself a disposal of the fee asset at market value. | CGT acquisition: no | Income: no |
| Withdrawals | CGT disposal: no. Any Luno withdrawal/network fee is itself a disposal of the fee asset at market value. | CGT acquisition: no | Income: no |
| Buying crypto with fiat | CGT disposal: no. Spending fiat (GBP, ZAR, EUR, NGN) is not a chargeable disposal; a fee charged in crypto is still a disposal of that fee asset. | CGT acquisition: yes. The bought crypto enters the section 104 pool at the value of the fiat paid. Recap's default: fees are added to the acquisition cost. Configurable: 'deduct trade fees' (off by default) nets a same-asset fee off the amount acquired instead. | Income: no |
| Crypto to crypto | CGT disposal: yes. The crypto sold is disposed of at the trade's valued amount; a crypto trading fee is an additional disposal of the fee asset. | CGT acquisition: yes. The crypto bought enters the section 104 pool at the same valued amount. Recap's default: the quote side of the pair drives valuation. Configurable: valuation can instead follow the disposed side. | Income: no |
| Selling crypto for fiat | CGT disposal: yes. Disposal of the crypto sold at the fiat proceeds; a crypto-denominated trading fee is a further disposal of that fee asset. | CGT acquisition: no. Fiat received is not a chargeable asset, so no pool acquisition is created. | Income: no |
| Rewards | CGT disposal: no | CGT acquisition: yes. The reward also enters the section 104 pool at that same market value, so later disposals are measured against it. | Income: yes. Recap treats Luno savings interest and Luno promotions/referral rewards as income at market value on receipt. Configurable: the transaction can be recategorised to another type if a different treatment is required. |
| Transferring between your own accounts | CGT disposal: no. The moved crypto is not disposed of, but any transfer or network fee paid in crypto is a disposal of the fee asset. | 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.
This table shows Recap's default classification for common Luno 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.
Rewards are generally treated as income at the value you receive them, with any later disposal of those coins also potentially creating a capital gain. Where buys were funded in different fiat currencies, each is converted to your reporting currency so the cost-basis pool stays accurate, and transfers between your own accounts are not disposals.
Refer to our tax guides for a more detailed look at crypto tax rules.
What's in your Luno tax report
Recap turns your full Luno history into a single tax report: capital gains, losses and income worked out under the rules for your jurisdiction, purchases in every currency converted and pooled correctly, rewards valued on the day they arrived, and a clear year-by-year summary you can file yourself or hand straight to your accountant.
Common Luno tax challenges and how Recap solves them
Luno accounts produce a few recurring tax problems. Here is how Recap handles each one:
Volume and multiple currencies
- A long trail of small buys. Recurring and instant buys are slow to reconstruct by hand. Recap imports every one and calculates the gain or loss on each disposal automatically.
- Multiple funding currencies. Buys funded in different local currencies all belong in one pool. Recap converts each to your reporting currency at the correct rate so the cost basis is right.
Rewards and recordkeeping
- Rewards as income. Rewards land as many small income events. Recap values each one at the point you receive it, so none are missed.
- Keeping a permanent record. If you are winding down or leaving Luno, you need your history before access ends. Recap imports and stores the whole picture so nothing is lost.
Why Luno users choose Recap
Luno users often choose Recap because a beginner-friendly account can still carry years of small buys and sells, funded across several currencies, with rewards on top. Rather than rebuilding all of that by hand, you can connect by API and see your gains, losses and income reconciled in one report, ready to file or share with your accountant.
Whether Luno shares account data with HMRC is a separate question, and we answer it in does Luno report to HMRC.
