Blockpit is the dominant crypto tax tool in Austria and Germany, with growing coverage across European jurisdictions including the UK. If you are a UK investor comparing it to a UK-specific tool, the key question is whether Blockpit's European breadth is worth its price premium over an alternative built exclusively for HMRC.
Feature comparison
| Feature | Blockpit | Polyconomic |
|---|---|---|
| Primary market | Europe (Austria, Germany, etc.) | UK-only |
| Free to see full gain | No — subscription required | Yes — all years, no cap |
| Report pricing | ~£79/yr subscription | £49/yr Standard · £99/yr Pro |
| UK HMRC matching | ✓ Supported | ✓ Applied by default |
| SA108-compatible PDF | ✓ | ✓ With box references |
| Exchange API integrations | Broad | Binance, Coinbase, Kraken, Bybit |
| Multi-jurisdiction | Excellent (EU focus) | UK-only |
| Portfolio tracking | ✓ | ✓ |
| Plain English output | Standard | Yes — UK-specific language |
| Accountant access | ✓ (paid tier) | ✓ (included) |
Where Blockpit has a genuine advantage
Blockpit's multi-jurisdiction European support is real. If you have Austrian Kapitalertragsteuer obligations alongside UK HMRC, or German Abgeltungsteuer, or Swiss wealth tax — Blockpit handles these within the same product. It is the most logical choice for UK investors who are also tax-resident in (or have obligations to) another European country. For pure UK-only investors, this feature set has zero value.
Where Polyconomic has a genuine advantage
For UK-only investors, Polyconomic is designed specifically around HMRC's output requirements rather than adapted from a European framework. Every SA108 box reference, every piece of guidance text, every calculation assumption is built for UK compliance rather than being one country mode within a multi-jurisdiction platform. And the pricing model is fundamentally different: you see the complete gain for free, and Standard is £49/year if you need the report — versus Blockpit's ~£79 annual subscription regardless of outcome.
A realistic cost example
A UK investor with 300 trades across Binance and Kraken: Blockpit charges approximately £79/year for a standard plan. Polyconomic Standard is £49/year — a saving of £30/year over Blockpit. For an investor whose gain is below £3,000 in some years, the Polyconomic cost in those years is £0 (gain visible free, no report needed).
Which should you choose?
Choose Blockpit if: you have tax obligations in multiple European countries alongside UK, or you are an expat who moves between European jurisdictions and needs a single tool to handle them all.
Choose Polyconomic if: your tax obligations are UK-only, you want to see your gain before paying anything, you want a tool built from the ground up for HMRC reporting, or you want to avoid an annual subscription that charges regardless of whether you owe tax.
Frequently asked questions
Does Blockpit correctly apply all three UK HMRC matching rules?
Blockpit implements the UK matching rules (same-day, 30-day, Section 104) as part of its UK country support. The implementation is generally reliable. As with any multi-jurisdiction tool, the quality of UK-specific implementation may not match a tool built exclusively for UK use. Test any known edge cases (bed-and-breakfasting scenarios, same-day trades) to verify.
Is Blockpit more expensive than Polyconomic for UK users?
Yes. Blockpit's standard tier is approximately £79/year. Polyconomic Standard is £49/year — a saving of £30/year. And Polyconomic is always free to check your gain first, so in years where your gain is below £3,000 and no report is needed, the Polyconomic cost is £0.
I am a UK expat planning to return to a European country. Should I use Blockpit?
If you will have genuine tax obligations in another European country in the near future, Blockpit's multi-jurisdiction support may be worth the subscription. While you are UK-only, you could use Polyconomic for lower cost and switch to Blockpit when European obligations materialise — as long as you export and preserve your historical transaction data.
Does Polyconomic plan to add European jurisdiction support?
Polyconomic is UK-focused by design. Adding European jurisdictions would change its product philosophy from UK-only to multi-jurisdiction. There are no publicly announced plans to expand beyond UK HMRC reporting.
Which tool do UK accountants prefer to work with?
UK accountants are more familiar with Polyconomic and Koinly than with Blockpit, which is less commonly used by UK practices. If you involve a UK accountant, they are likely more comfortable reviewing a Polyconomic or Koinly report than a Blockpit one. For an accountant who also serves European clients, Blockpit may be in their toolkit.
Can I move from Blockpit to Polyconomic mid-year without issues?
Yes. Export your transaction history from Blockpit and re-import from original exchange CSVs into Polyconomic (re-importing from source is cleaner than importing a Blockpit export). Your Section 104 pool will be recalculated from the beginning, so ensure your full historical data is available. Compare pool balances between tools to verify consistency before filing.
Tool information accurate at time of writing.