Crypto tax
advice and returns

  • Specialist crypto tax team – always up to date with legislation

  • Great tech and systems – 20% discount on Recap software

  • Your crypto tax efficiency, our priority – get advice early to save on tax

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Crypto Tax Made Easy

When you’re an SG client, you get access to our specialist Tax team who can help you with advice and returns for your Crypto assets. If you have crypto investments, use cryptocurrency, or have done so in the past, you will need to complete a tax return and declare your crypto assets. There’s been some confusion in the past around the treatment of crypto, but HMRC’s stance is now clear and we at SG Accounting have all the crypto tax knowledge to help you. We can process your crypto tax return smoothly and efficiently whilst offering the best advice on crypto tax efficiency. And we can offer you a 20% discount on ReCap crypto tax software.

Crypto tax hand with a bitcoin

SG Accounting Crypto Tax Service

We’ll look at your entire tax situation alongside your crypto assets to offer you the most tax efficient position. An advice call to understand how your crypto activities can affect your tax position can be worth it’s weight in bitcoin, so get in touch with your SG Client Director sooner rather than later. Pricing for a crypto tax return really depends on the type of assets and volume of transactions – so please get in touch for a quote.

Here’s how tax on crypto works and how we can help you navigate your tax situation:

  • HMRC’s Position: Contrary to the initial interpretation, HMRC now explicitly states that the buying and selling of cryptoassets is not comparable to gambling but that any gains are taxable and likely subject to Capital Gains Tax.

  • Paying Taxes on Crypto: Despite financial institutions not recognising cryptoassets as money or currency, HMRC treats them similarly to shares, which means they will be subject to Capital Gains Tax and/or Income Tax, depending on the type of transaction.

  • Crypto Tax Calculation: The type of tax you’ll pay depends on the specific transactions you make with your crypto. For capital gains exceeding the £6,000 tax-free allowance, you’ll pay 10% or 20% tax. Additional income from crypto, surpassing the personal allowance, incurs tax rates between 20% to 45% determined by your Income Tax band. Notably, for the 2024-2025 financial year, the tax-free allowance for capital gains has been reduced to £3,000. And remember, you should always report your losses as these can be utilised against future gains.

  • HMRC Can Track Crypto: HMRC has the capability to track cryptoasset transactions effectively using information from exchanges like crypto.com, through a data-sharing program with UK exchanges an through ‘Know Your Customer’ information provided during exchange or wallet sign-ups. HMRC have started sending out ‘nudge’ letters to prompt individuals and businesses to report their crypto activity.

If you’re looking for help navigating your Crypto Tax situation, get in touch with your Client Director who can organise a call with our specialist tax team. If you’re not yet an SG Accounting client, get in touch now to see how we can help you.

Get in Touch

We’d love to chat about your accounting needs. Call us now, drop us an email or fill in the form and we’ll get back to you.

New enquiries:

01962 896968

Existing clients:

01962 867550

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