Is my crypto taxable in the UK?

Yes. HMRC treats crypto as a capital asset, not a currency.

This means the following can all trigger Capital Gains Tax:

• Selling crypto for cash
• Swapping one cryptocurrency for another
• Using crypto to buy goods or services
• Gifting crypto (except to a spouse)

If your total gains in the year exceed the £3,000 annual exempt amount, you'll owe CGT at 18% or 24% depending on your income.

Some crypto activity — like staking rewards, mining income, and certain DeFi transactions — may be treated as income rather than capital gains and taxed differently.

HMRC requires you to keep records of every transaction. This falls under our £199 Advanced Tax Return.