Coinbase has contacted investors who have cashed out more than £5,000 in fiat in the 2021 tax year to let them know that they have passed their details to HMRC.
HMRC will be requesting similar information from other exchanges as it seeks to increase tax compliance in the crypto space.
If you have been trading crypto assets and are unsure what your tax obligations are, please get in touch with one of our crypto tax experts who would be happy to assist. You can read more information from HMRC about the appropriate tax treatment of cryptoassets, but we think you’ll find it easier to talk to one of our crypto currency tax advisors.
Need more advice on Crypto / NFT tax from a Crypto specialist accountant?
We have a lot of information about the UK tax situation for Crypto and NFT on our website which you may want to read before getting in touch.
- Crypto tax FAQ
- Business start-ups in the cryptosphere
- Should I incorporate my crypto trading activities?
- Tax implications of being paid a salary in crypto
- Crypto Day Trading and Tax
- NFTs – the importance of planning
- Tax on crypto staking and lending
- Crypto Tax specialist services
- DAO – Digital Autonomous Organisations
- Ask our UK based crypto accountants for crypto tax advice
- Other crypto insights and services