You have two options for reporting and paying taxes on your crypto capital gains in the UK. Below is an excerpt from the HMRC website outling these options. You can report your capital gains in a Self Assessment tax return OR using the ‘real time’ Capital Gains Tax Service on the website. Assuming you don’t have Income other than Capital Gains (such as staking rewards), I suggest you try the 2nd option first as it seems easier (though I have not used it before). Hope this helps.
Report and pay your Capital Gains Tax
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- What you need to do
- If you sold a property in the UK on or after 6 April 2020
- If you have other capital gains to report
- Ways to pay
If you have other capital gains to report
If your capital gain is not from a residential property sold after 6 April 2020, you can report your gain:
- in a Self Assessment tax return
- using the ‘real time’ Capital Gains Tax Service
Before you start, you’ll need to work out if you need to pay and how much you owe.
Report in a Self Assessment tax return
You can report your gains in a Self Assessment tax return in the tax year after you sold or disposed of an asset.
If you’re reporting gains on property using a Capital Gains Tax on UK property account, you must include details of your gain and any tax you’ve paid in your tax return.
Do not wait until the next tax year to report gains on UK residential property sold since 6 April 2020. You may have to pay interest and a penalty if you do.
You can get help with your tax return from an accountant or tax adviser.
After you’ve submitted a return, HM Revenue and Customs (HMRC) will tell you how much you owe, how to pay and when to pay.
Report using the ‘real time’ Capital Gains Tax service
You can use the service to report gains on assets you sold during the tax year:
- 2021 to 2022
- 2022 to 2023
If you’re registered for Self Assessment, you’ll still need to include details of the sale in your Self Assessment tax return.
You cannot use the service to report:
- gains on residential property
- on behalf of someone else
Report your Capital Gains Tax now