Connect your Solana wallet to Recap and automatically import your trades, swaps, staking rewards, NFTs, and DeFi activity. We calculate your UK capital gains tax, apply HMRC matching rules, and generate tax-ready reports.
Disclaimer: The information provided in this content does not endorse Solana. 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.
What is Solana?
Solana is a high-performance blockchain known for fast transaction speeds and low fees. It supports a thriving ecosystem of DeFi protocols, NFT marketplaces, and decentralised applications. UK investors use Solana wallets like Phantom and Solflare to hold SOL, trade tokens, stake, and interact with dApps.
Solana taxes in the UK
If you use a Solana wallet in the UK, you may need to pay tax when you dispose of cryptoassets (for example: selling for GBP, swapping tokens, spending crypto, or gifting to someone other than a spouse/civil partner).
Wallet transfers
Moving tokens between wallets you beneficially control is not usually a disposal (no CGT), provided beneficial ownership does not change.
How to automate your Solana crypto taxes with Recap
Add your Solana wallet address to Recap. We automatically import your full transaction history — including swaps, staking, NFT trades, and DeFi interactions — classify each transaction, apply fair-market valuations, and calculate your tax liability using HMRC's share pooling and matching rules.
How are Solana Transactions Taxed?
UK tax treatment depends on the transaction type. Disposals (sells, swaps, spends) are subject to Capital Gains Tax. Staking rewards, airdrops, and DeFi yields are typically taxed as income when received.
| Transaction type | CGT | Income | Tracked in Recap |
|---|---|---|---|
| Deposits | |||
| Withdrawals | |||
| Buying SOL with fiat | |||
| Token swaps | |||
| Selling SOL for fiat | |||
| Staking rewards | |||
| Airdrops | |||
| NFT purchases | |||
| NFT sales | |||
| DeFi yields / liquidity rewards | |||
| Providing liquidity | |||
| Removing liquidity |
Refer to our tax guides for a more detailed look at crypto tax rules.
Tax information is general guidance and may not reflect your circumstances. If you're unsure, speak to a qualified tax adviser.
Does HMRC know about my Solana transactions?
Solana is a public blockchain — all transactions are visible on-chain. HMRC can analyse blockchain data and has requested information from UK exchanges. From 1 January 2026, UK cryptoasset service providers have new customer and transaction reporting obligations under the UK's cryptoasset reporting rules.
It's essential to accurately report all Solana transactions on your UK self-assessment to avoid penalties. Using a crypto tax calculator like Recap ensures you're reporting correctly and staying compliant with HMRC requirements.
