With the rising popularity of cryptocurrency investments, understanding your tax obligations is crucial. HMRC treats crypto assets as taxable property, meaning gains and income from trading, staking, or mining may be subject to tax.
HMRC considers cryptocurrency to be property rather than currency, which means various transactions can trigger a tax liability. The following activities may be taxable:
We accurately calculate your capital gains and losses across all crypto transactions, applying HMRC’s share pooling rules and accounting for allowable costs to determine your exact tax liability.
If you earn cryptocurrency through mining, staking, airdrops, or as payment for services, we ensure this income is correctly reported and taxed at the appropriate rate.
We identify legitimate strategies to reduce your crypto tax bill, including utilising your annual CGT exemption, offsetting losses, and timing disposals for maximum tax efficiency.
We prepare and submit your self-assessment tax return with all cryptocurrency gains and income accurately reported, ensuring full compliance with HMRC requirements.
If HMRC enquires about your crypto activities, we provide expert representation and support, helping you respond to queries and resolve any issues efficiently.
Whether you trade on Binance, Coinbase, Kraken, or multiple platforms, we consolidate your transaction data and produce a comprehensive tax report covering all your exchanges and wallets.
Contact Taxonomy Accountants today for professional assistance and expert guidance.