Hi Everyone. With it coming up to end of tax year. I wanted to get the opinion of the wider UK crypto community!
How is everyone planning on declaring their income from Staking / Mining / Loan Interest? I’ve recently come across this website:
Staking coins is using capital accumulated in order to see a set rate of return on that investment. This is likely to be treated as savings income rather than dividend income. As such any staking income below £1,000 (basic rate tax payers) & £500 (higher rate tax payers) is tax-free.
I was initially thinking of just using the Blockfi as saving income and Staking returns as std income. However, with the above in mind - one could declare all income from Staking / mining and loan interest (blockfi / earn on crypto.com) as saving income?
Appreciate other comments on this?