How HMRC taxes crypto
For most individuals, crypto is taxed in one of two ways: Capital Gains Tax when you dispose of it at a gain, and Income Tax and National Insurance when you receive it as income, for example from mining, staking or lending. GoForma's accountants work out both and file them on your Self Assessment return, and our crypto Self Assessment service is a fixed £298.
What counts as a disposal
According to HMRC guidance, you dispose of a cryptoasset when you:
- sell it for pounds or another currency
- exchange it for a different type of cryptoasset
- use it to pay for goods or services
- give it to another person, unless the gift is to your spouse, civil partner or a charity
Each disposal needs a gain or loss worked out in pounds sterling, which is why active traders can end up with thousands of calculations.
Capital Gains Tax on crypto for 2025/26
The annual exempt amount is £3,000. Gains above it are taxed at 18% where they fall within your basic rate band and 24% above it. Allowable costs include transaction fees and the cost of valuations or contracts for the transaction.
Worked example: a higher rate taxpayer who made £13,000 of gains on crypto in 2025/26, with no other gains, pays Capital Gains Tax of £2,400: £13,000 less the £3,000 exempt amount is £10,000, taxed at 24%. It is reported on the tax return due by 31 January 2027, and the tax is due the same day.
Pooling: the same-day and 30-day rules
You do not work out a gain by matching a sale to the tokens you happened to buy first. HMRC's rules match a disposal with tokens of the same type bought on the same day, then with tokens bought in the 30 days after the sale, and only then with the average cost of the rest of your holding (the pool). So selling and buying back within 30 days does not reset your cost. Our crypto tax calculator gives a first estimate.
Crypto received as income
Crypto you receive from mining, staking, lending or liquidity pool arrangements, or from your employer, is taxable income valued in pounds sterling when you receive it (HMRC). You can use the £1,000 allowance for trading and miscellaneous income. If that income is between £1,000 and £2,500 you need to contact HMRC, and above £2,500 you need to register for Self Assessment.
Reporting crypto to HMRC
You report crypto gains on a Self Assessment tax return, or through HMRC's real time Capital Gains Tax service. Returns from 2024/25 onwards have a separate cryptoasset section, completed in pounds sterling. For the 2025/26 tax year, the online return and payment are both due by 31 January 2027, and if you are not already registered you must tell HMRC you need to file by 5 October 2026. The full timetable is on our Self Assessment tax return page.
HMRC expects you to keep records of each transaction: the type of token, the date, the number of units, the value in pounds sterling and the details of each disposal.
What GoForma does for £298
Our crypto Self Assessment service is £298 plus VAT. It covers up to 25,000 cryptoasset transactions with a Koinly licence included, calculates your capital gains across all your exchanges and wallets, and prepares and files your full Self Assessment return with HMRC. Your return is prepared by an ACCA or AAT qualified accountant, and GoForma is rated 4.9 on Google from 72 reviews.
You can see what the service includes and buy it, or book a free consultation to talk through your transactions first. For the rules in more depth, read our guide to crypto tax in the UK.