Learn · Crypto taxes for traders
If you sold, swapped or spent crypto between 6 April 2025 and 5 April 2026, HMRC expects to hear about it. Here are the dates, the rules that matter for active traders, and a fast way to get your numbers ready.
The two dates to put in your calendar
| Deadline | What is due |
|---|---|
| 31 October 2026 | Paper Self Assessment return for the 2025/26 tax year |
| 31 January 2027 | Online Self Assessment return, and payment of any tax owed for 2025/26 |
Most traders file online, so 31 January 2027 is the real deadline. Starting early still pays off: pulling a full year of exchange and wallet history together takes longer than most people expect. See HMRC’s deadline guidance for the details.
What counts as a taxable event
In the UK, crypto is treated as property, so most trades fall under Capital Gains Tax (CGT). You make a disposal, and may owe tax, when you:
- sell crypto for pounds or any other fiat currency,
- swap one coin for another (crypto-to-crypto trades count, even if you never cash out),
- spend crypto on goods or services,
- give crypto away, except to your spouse or civil partner.
Buying crypto with fiat, holding it and moving it between your own wallets are not disposals.
Rates and the allowance for 2025/26
| Item | 2025/26 |
|---|---|
| CGT annual exempt amount | £3,000 of gains per person |
| CGT rate, basic rate band | 18% |
| CGT rate, higher and additional rate bands | 24% |
Income from crypto is taxed differently. Staking rewards, mining rewards and interest are generally income tax when you receive them, at your normal income tax rate. Airdrops you did something to earn are usually income too. The £1,000 annual trading allowance is shared across eligible trading and miscellaneous income, which can include staking rewards, so small amounts may fall within it.
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Three rules that catch active traders
1. Matching rules, not simple FIFO
HMRC matches disposals in this order: first with coins bought on the same day, then with coins bought in the following 30 days, and only then with the average cost of your Section 104 pool. If you trade the same coin often, working this out by hand gets messy quickly.
2. You may need to report even with small gains
Gains under £3,000 may mean no CGT to pay, but that is not the same as nothing to report. Even if your gains are below £3,000, you still need to report them if you’re registered for Self Assessment and your total proceeds from disposing of chargeable assets exceeded £50,000 in the tax year. For a trader who rotates the same capital many times, £50,000 of proceeds comes faster than it sounds.
3. Report your losses
Losses can reduce your gains, but to carry them forward you need to report them to HMRC within four years of the end of the tax year in which they happened. A losing year is still worth reporting.
New in 2026: exchanges now report to HMRC. Under the Cryptoasset Reporting Framework (CARF), crypto platforms serving UK users collect customer and transaction details from 1 January 2026 and share them with HMRC. In practice, HMRC will increasingly see your trades whether you report them or not.
Where crypto goes on your return
Capital gains and losses from crypto go on the Capital Gains summary pages (SA108), which now have a dedicated cryptoassets section. If you receive staking rewards outside a trade and need to declare them on your Self Assessment return, enter them in the ‘Other UK income’ section of the main return. Keep records of each trade: date, asset, amount, value in pounds, fees and the wallet or exchange used.
Getting your numbers ready with Koinly
Koinly connects to your exchanges and wallets, imports your transaction history, applies HMRC’s same-day, 30-day and Section 104 rules for you, and produces the reports you need for Self Assessment. A practical order of work:
- Create a free Koinly account and set your country to the United Kingdom.
- Connect every exchange and wallet you used, via API or CSV import.
- Review the flagged transactions, usually missing purchase history or transfers between your own wallets.
- Check your summary for 2025/26: gains, losses, income and total proceeds.
- Download the HMRC report and use it to fill the cryptoassets section of your return, or share it with your accountant.
Get your 2025/26 crypto tax report ready
Import your trades free, pay only when you download the report
Quick checklist before 31 January 2027
- All exchanges and wallets imported, including ones you closed during the year
- Transfers between your own wallets matched, so they are not counted as disposals
- Staking and other rewards recorded as income
- Losses included, so you can use them now or later
- Payment made by 31 January 2027
Sources: GOV.UK Self Assessment deadlines; HMRC Cryptoassets Manual; HMRC guidance on the Cryptoasset Reporting Framework. This article is general information for UK residents, not tax advice. If your situation is complex, speak to a qualified accountant. BProud may earn a commission if you sign up to Koinly through our links, at no extra cost to you. See our affiliate disclosure.