Cryptocurrency Taxation
We are passionate about the Crypto Industry and hold a great diversified portfolio ourselves. We understand the Crypto language from airdrops, mining, staking, farming, DeFi, ERC 721, so we understand how to deal with your Crypto taxes correctly.
Our Partners
How we can help you
We can prepare your crypto taxes using software from one of our leading partners.
​
Once your tax position is up to date, we can provide tax planning services to help you maximise your UK tax position.
​
We have helped many treat Crypto transactions correctly for tax purposes.
Resources
Most common Crypto Activity for tax purposes
Airdrop
If you have been airdropped in return or expectation of a service, then this amount will be subject to income tax
​
Donating
Donating your Crypto to charity is not subject to UK tax
​
Staking & Mining
Staking and Mining will be subject to income tax. The price you paid income tax on will form as your cost basis for capital gains when you sell your tokens.
Gifting
Gifting your Crypto to your spouse is not subject to UK tax, but gifting to others may be subject to UK tax!
​
Exchanging Crypto to Crypto
Exchanging one crypto to another will create a taxable event. For example, if you trade Bitcoin for Ethereum, then you will pay tax on the gain you have made on Bitcoin.
Transferring crypto between wallets
Transferring crypto between your wallets will not create a taxable event.
Frequently Asked Questions
1
What type of tax do I pay on my crypto?
Crypto profits are usually subject to capital gains tax. However, certain types of crypto transactions can be subject to income tax as well.
2
How do I report my crypto profits?
Your crypto profits needs to be reported on your personal tax return also known as your self assessment tax return.
3
Do I get a personal allowance?
Typically, an individual gets a capital tax allowance of £12,500. This means you do not pay capital gains tax on the first £12,500 of gains.