How to calculate your Luno taxes

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  • Recap CSV
1 min read
Last updated:
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Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with Luno that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Luno account to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

The legal bit: The information provided in this content does not endorse Luno. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.

What is Luno?

Luno.com is a cryptocurrency exchange platform that allows you to buy, sell, and store various cryptocurrencies. Founded in 2013, it emphasises a secure and user-friendly experience for both beginners and experienced investors.

Here's a breakdown of what Luno offers:

  • Buying and Selling Crypto: Purchase and sell popular cryptocurrencies like Bitcoin and Ethereum directly on the platform.
  • Secure Storage: Store your crypto holdings safely within Luno's wallet.
  • User-Friendly Interface: Navigate the platform easily, regardless of your experience level.
  • Focus on Security: Luno prioritises security measures to protect your digital assets.

How to automate your Luno crypto taxes with Recap

With our crypto tax software, calculating your taxes is stress-free. Connect your Luno account to Recap, and our system will classify and value all transactions and determine your tax liability based on your jurisdiction.

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How are Luno Transactions Taxed?

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

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto
Earning staking rewards

Please take a look at our tax guides for a more detailed look at crypto tax rules.

Help Guides

Connecting your Luno account
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How much profit do I have to make on cryptocurrencies to be liable to pay tax in the UK?
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What incidental costs does HMRC allow for cryptocurrency taxes?
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Automate your Luno tax reporting - takes 5 mins.

  • 1

    Sign up to Recap

  • 2

    Set up auto sync with our step by step guide

  • 3

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

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FAQs

Do I need to pay tax on my Luno transactions?

Yes, you may need to pay tax on your Luno transactions. Tax obligations vary depending on your country’s tax laws and the nature of your transactions. Common taxable events include selling cryptocurrency, trading between coins (crypto to crypto), and making purchases with crypto.

Do the tax authorities know about my Luno transactions?

Tax authorities may become aware of your Luno 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.

What is the benefit of using a crypto tax calculator?

A crypto tax calculator automates the process of calculating taxes on your cryptocurrency transactions, providing accurate tax liability figures and ensuring compliance with tax regulations without manual calculations.