Apparently in spring next year HMRC is moving to reporting tax quarterly and well as a finally April report and HMRC are saying you need to use an approved by the HMRC tax software for reporting.
Are you HMRC approved and are you going to allow quartly reports as part of your yearly fee?
I’m also interested in Koinly’s status for the HMRC. This isn’t answered so far.
I know if we have an accountant submit our tax information, that has to be done by approved software.
Thx
Hi @Ian_Palmer
You can generate reports for a specific period, such as quarterly, by using the custom date range option when generating your reports.
Check out How to generate reports for custom dates
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What Koinly does is calculate your crypto gains, losses, and income using HMRC rules and generate the forms you need (like the Capital Gains Summary, Income Report, and Full Transaction Report).
You can then:
• File yourself via HMRC’s online service by entering the numbers from your Koinly reports, or
• Give the reports to your accountant, who can use them with HMRC-approved filing software.
Koinly basically handles the complex crypto calculations, but the final submission to HMRC must still be done through HMRC’s system.
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