Crypto Currency Taxation
As per HMRC, crypto is a capital asset, when you dispose of a crypto asset, you'll pay Capital Gains Tax. Disposals of crypto include:
- Selling crypto for GBP or another fiat currency.
- Trading crypto for crypto, including stable coins.
- Spending crypto on goods and services.
- Gifting crypto - unless it's to your spouse or civil partner.
So anytime you sell, trade, spend, or gift crypto in the UK - you'll pay Capital Gains Tax as a result.
Our team has good experience in crypto tax. We are familiar with the crypto taxation of investing in crypto, trading in crypto and using the crypto in the business and personal transactions.
We provide the support in the following area:
- Calculating taxable gains and losses from Crypto transactions
- Your annual HMRC filing obligations
- Undeclared crypto gains and disclosures
- Tax planning to ensure that your crypto assets are properly structured
- Ensuring correct valuations are used for your crypto asset disposals
- Tax investigations from HMRC
