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Understand your crypto tax.
Start here.
Short, plain English guides to the concepts behind UK crypto tax. Start with the basics and work your way to the more complicated stuff.
What is crypto tax?
HMRC treats cryptocurrency as property, not currency. That means selling, swapping, or spending it is a taxable event. This guide explains the basics.
Capital gains vs income: what is the difference?
Some crypto transactions create capital gains. Others create income. HMRC treats them differently, and the distinction matters for your tax bill.
What is a "disposal" in HMRC's eyes?
HMRC uses the word disposal to mean any transaction where you give up ownership of a crypto asset. This includes selling, swapping, gifting, and spending.
How does cost basis work?
Your cost basis is what you paid for your crypto. It directly affects your capital gain. Tracking it correctly is the most important thing you can do for your tax position.
The annual CGT allowance: do I need to pay tax?
Everyone in the UK gets an annual exempt amount for capital gains. If your total gains for the year are below it, you may owe nothing at all.
Self Assessment: do I need to file?
Not everyone needs to file a Self Assessment. This guide explains the thresholds and circumstances that trigger a reporting obligation.
What is tax-loss harvesting?
Selling assets at a loss to offset gains elsewhere in your portfolio is a legal and common strategy. Here is how it works and what the 30-day rule means for it.
Staking and yield: is it income?
Crypto received for staking, lending, or yield farming is generally treated as income by HMRC. This guide explains what that means and how to report it.
How to import your crypto transaction history
A step-by-step walkthrough of how to export your transaction history from the most popular UK exchanges and import it into Polyconomic.
Want the full guide?
The complete UK crypto tax guide covers everything from basics to complex DeFi situations.