Published: 15th January 2024
HMRC is concerned that individuals who sell or exchange cryptoassets may not be aware that they need to file a tax return, particularly as a charge can arise even if no money (in the traditional sense) is received. A return will be needed if capital gains, including any arising from transactions in cryptoassets, exceeded £12,300, or if aggregate disposal proceeds for the tax year exceed £49,200. HMRC says that you should check your position if you have made transactions involving cryptoassets, including:
In some circumstances, the receipt of cryptoassets may be liable to income tax, e.g. where received from an employer or from mining activity. You should refer to the online guidance accordingly.