Crypto Tax

Yes. If you've sold, swapped, or otherwise disposed of crypto assets at a profit, this generally needs to be reported to HMRC, usually through your Self Assessment tax return. As your crypto tax accountant, we can check your transaction history and confirm exactly what needs declaring.

In most cases, yes, if you make a gain when disposing of crypto, or receive crypto as income (through staking, mining, or being paid in it), tax is likely to be due. Whether it's Capital Gains Tax, Income Tax, or both depends on how you came by the crypto and what you did with it. That's exactly the kind of thing our crypto tax advice in Edinburgh is designed to untangle.

Crypto profits are reported through your Self Assessment tax return, alongside any other income or gains you have for the year. You'll need to register for Self Assessment if you haven't already, and file by the annual deadline. We handle this end-to-end for clients, so nothing gets missed.

It depends on the nature of the profit. Gains from selling or swapping crypto usually fall under Capital Gains Tax, while crypto received as payment, staking rewards or mining income is typically treated as income and taxed accordingly. Rates and allowances can change, so it's worth checking your specific position with us rather than relying on a rule of thumb.

Generally, yes. Disposing of a crypto asset for more than you paid for it is usually a taxable event for Capital Gains Tax purposes, even if you swap it for another cryptocurrency rather than cashing out to pounds.

Crypto losses can usually be recorded on your Self Assessment return and used to offset gains elsewhere, which can reduce your overall tax bill. It's worth reporting losses properly even in a year where you haven't made a profit, as they can often be carried forward. As your cryptocurrency tax accountant, we'll make sure these are captured correctly.