HMRC treats cryptoassets as property, not currency. This means different tax rules apply depending on what you did with your cryptocurrency during the tax year.
Capital Gains Tax on Crypto
Capital Gains Tax applies when you dispose of crypto. A disposal does not only mean selling for cash.
You may need to pay Capital Gains Tax if you:
- Sell cryptocurrency for GBP
- Swap one token for another
- Spend crypto on goods or services
- Gift crypto to someone other than your spouse or civil partner
HMRC applies share pooling rules when calculating crypto gains. Instead of tracking each coin separately, your tokens are grouped into a single pool for that asset. The average cost is used to calculate gains when you dispose of part of your holding.
The 30 day rule also applies. If you sell crypto and buy the same asset again within 30 days, special matching rules affect how your gain or loss is calculated. Many investors overlook this rule, which can lead to incorrect reporting.
Income Tax on Crypto
In some cases, crypto is taxed as income rather than a capital gain.
Income Tax may apply if you receive:
- Mining rewards
- Staking rewards
- Certain airdrops
- Crypto as payment for services or employment
These amounts are usually taxed based on their value in GBP at the time you receive them. If you later sell those tokens, you may also face Capital Gains Tax on any increase in value.
If crypto income is reported as a capital gain, or vice versa, you could under report tax or pay more than necessary. Professional review reduces this risk and keeps your return aligned with HMRC guidance.
What Is Included in Our Crypto Self Assessment Tax Return Service
- Review of your full cryptocurrency transaction history across exchanges and wallets
- Capital Gains Tax calculations using HMRC pooling and matching rules
- Income Tax calculations for staking, mining or other taxable receipts where relevant
- Completion of your Self Assessment tax return including crypto disclosures
- Online submission to HMRC
- A clear tax summary showing how your figures were calculated and what tax is due
- Your fixed fee of £275 covers up to 25,000 cryptocurrency transactions for a single tax year.
This is a fixed fee one time filing service for a specific tax year. It does not include ongoing bookkeeping, trading advice or continuous tax planning. The focus is accurate calculation and compliant submission of your crypto self assessment tax return.
File Your Crypto Self Assessment Tax Return with Confidence
Filing a crypto tax return is about meeting your legal obligations under UK tax law and reporting your cryptocurrency activity correctly.
With GoForma, your crypto self assessment tax return is prepared by qualified UK crypto tax accountants who is pro at both blockchain transactions and HMRC rules. They calculate your Capital Gains Tax and Income Tax, apply the appropriate matching rules, and file everything online with HMRC.
This reduces the risk of errors, penalties and unwanted enquiries. You gain clarity, compliance and peace of mind and we make sure everything is handled, professionally.