# Allowable expenses

**URL:** https://discuss.koinly.io/t/allowable-expenses/23895
**Category:** Tax Questions
**Created:** [January 3, 2025, 11:40am UTC](https://discuss.koinly.io/t/allowable-expenses/23895 "2025-01-03T11:40:08Z")
**Posts on this page:** 5
**Page:** 1

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### Author: ![lykoin](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/lykoin/32/12576_2.png) [@lykoin](https://discuss.koinly.io/u/lykoin)
#### Post date: [January 3, 2025, 11:40am UTC](https://discuss.koinly.io/t/allowable-expenses/23895/1 "2025-01-03T11:40:08Z")

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Hello all, would tax report fees from Koinly be allowable expenses in the eyes of HMRC when working out profits and CGT owed?

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### Author: ![Aria\_Koinly](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/aria_koinly/32/9150_2.png) [@Aria\_Koinly](https://discuss.koinly.io/u/Aria_Koinly)
#### Post date: [January 6, 2025, 11:42am UTC](https://discuss.koinly.io/t/allowable-expenses/23895/2 "2025-01-06T11:42:20Z")

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Hi @lykoin

I suggest you talk to a [Crypto-aware Tax Accountant](https://koinly.io/crypto-accountants/) regarding this.

Also, this is our [HMRC tax guide](https://koinly.io/guides/hmrc-cryptocurrency-tax-guide/).

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### Author: ![Mark\_DesLauriers](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/mark_deslauriers/32/2255_2.png) [@Mark\_DesLauriers](https://discuss.koinly.io/u/Mark_DesLauriers)
#### Post date: [January 6, 2025, 7:36pm UTC](https://discuss.koinly.io/t/allowable-expenses/23895/3 "2025-01-06T19:36:28Z")

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Hi @lycoin,

Koinly subscription fees should be a deductible business expense if you are using Koinly to calculate net income from a business for UK tax purposes. I don’t think Koinly subscription fees would be an allowable expenditure for CGT purposes.

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### Author: ![lykoin](https://yyz2.discourse-cdn.com/flex052/user_avatar/discuss.koinly.io/lykoin/32/12576_2.png) [@lykoin](https://discuss.koinly.io/u/lykoin)
#### Post date: [January 7, 2025, 4:23pm UTC](https://discuss.koinly.io/t/allowable-expenses/23895/4 "2025-01-07T16:23:38Z")

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Hi Mark,

Thanks for the reply.  
I am glad I aksed because I assumed it would be an allowable expense.  
I will have a read of the HMRC tax guide posted above.

Thanks for the link Aria.

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### Author: ![system](https://canada1.discourse-cdn.com/flex052/uploads/koinly_app/original/1X/7ac58e5593a7122893d066794a7254dcdb5ddb31.png) [@system](https://discuss.koinly.io/u/system)
#### Post date: [March 8, 2025, 4:23pm UTC](https://discuss.koinly.io/t/allowable-expenses/23895/5 "2025-03-08T16:23:49Z")

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