Crypto Tax Calculator
Calculate how much tax you owe from your crypto trading, staking and mining profits.
| Your profit from crypto | £100,000.00 |
|---|---|
| Capital Gains Tax to pay | £100,000.00 |
| Profit after tax | £100,000.00 |
NOTE: Your results will not be saved. This calculator should be used for estimations, capital gains is complicated with potential reliefs available, please get in touch if you have any queries.
In the UK, cryptocurrency is considered an asset, not currency, and is subject to Capital Gains Tax (CGT) and Income Tax in certain situations. Here's why you might owe tax on your crypto:
1. Capital Gains Tax (CGT)
You may owe CGT if you've made a profit from selling or disposing of crypto. Disposing includes:
- Selling crypto for fiat (e.g., GBP)
- Exchanging one crypto for another (e.g., BTC → ETH)
- Using crypto to buy goods or services
- Gifting crypto (except to your spouse/civil partner)
When is CGT due?
- If your total capital gains for the tax year exceed the annual CGT allowance (£3,000 for 2024/25), you must pay tax.
- Tax rates: 10% (basic rate taxpayers) and 20% (higher rate taxpayers).
2. Income Tax
You may owe Income Tax if you earn crypto through:
- Mining
- Staking/Yield farming rewards
- Airdrops (if received in exchange for services)
- Getting paid in crypto
When is Income Tax due?
- If your earnings exceed the Personal Allowance (£12,570 in 2024/25), you’ll pay Income Tax (20%, 40%, or 45% depending on your tax band).
3. What If You’ve Made a Loss?
- You can offset losses against future gains.
- Losses must be reported to HMRC within four years to claim relief.
4. Reporting Crypto to HMRC
- Self-Assessment Tax Return: If you owe CGT or Income Tax on crypto, you must report it via self-assessment.
- Deadline: Online submissions are due by 31st January following the end of the tax year.
