Capital Gains Tax
Since 30 October 2024 gains are taxed at 18% within the basic rate band and 24% above it. Each person has an annual exempt amount of £3,000. Losses can be offset against gains if you report them to HMRC.
Disposals and pooling
Selling for pounds, swapping one token for another, spending crypto and giving it away (except to a spouse or civil partner) are disposals. Costs are calculated with share pooling: tokens of the same type form a pool with an average cost, with special rules for coins bought on the same day or within the following 30 days.
Staking, mining and airdrops
Mining and staking rewards are usually miscellaneous income at their value when received, or trading income if done as a business. Airdrops received in return for doing something are income; unsolicited ones may not be, but disposals of them still fall under Capital Gains Tax.
Reporting
Report gains through Self Assessment. From 1 January 2026, UK crypto platforms collect user details and transaction data under the international Cryptoasset Reporting Framework and share it with HMRC.