How is crypto taxed in the UK?

HMRC treats crypto as property. Disposing of crypto (selling for fiat, swapping for another coin, or paying with crypto) triggers Capital Gains Tax. The 2026/27 annual exempt amount is £3,000. CGT rates are 18% (basic rate) or 24% (higher rate) on the gain above the allowance. Staking, mining and airdrops are taxed as income at your marginal income tax rate.

How is crypto taxed in the US?

The IRS treats crypto as property. Held for over 12 months: long-term capital gains rates of 0%, 15% or 20% depending on income. Held for 12 months or less: short-term gains taxed at ordinary income rates (10–37%). Mining and staking rewards are ordinary income at receipt fair-market value, then form the cost basis for future capital gains/loss.

What is a 'disposal' for crypto tax?

Any of: selling crypto for fiat, swapping one crypto for another (BTC → ETH triggers tax), spending crypto on goods/services, or gifting crypto to anyone other than a spouse. Moving between your own wallets is NOT a disposal. Each disposal must be calculated separately.

What cost-basis method should I use?

UK uses 'share pooling' (s.104 pool — average cost) with same-day and 30-day rules to prevent bed-and-breakfasting. US default is FIFO (First In First Out) but you may elect Specific Identification, HIFO (Highest In First Out) or LIFO if you have detailed records. HIFO usually minimises gains in a rising market.

Do I need to report crypto on my tax return?

Yes — even if you owe nothing. UK: report crypto disposals on Self Assessment SA108 if proceeds exceed £50,000 OR gains exceed the annual exemption. US: Form 8949 + Schedule D for capital gains, Schedule 1 for staking/mining income. The 1040 has a digital-asset question that everyone must answer. Failure to report can trigger HMRC penalties or IRS Form 8300 audits.

₿ Crypto Tax Calculator

Estimate the tax due on your crypto trades, staking and mining income. UK CGT (2026/27) and US capital gains supported.

Country

Tax Band

Total Proceeds (sale value)

Total Cost Basis (what you paid)

Staking / Mining / Airdrop IncomeFair-market value when received.

Other Annual Taxable IncomeSalary etc. — auto-selects your tax band below.

⚠️ Estimate only. Aggregated calculation — does not perform UK share-pooling, US FIFO/HIFO lot tracking, or NIIT/state tax. For lot-by-lot reporting use Koinly, CoinLedger or similar. UK CGT rates increased on 30 Oct 2024 to 18%/24%. Not tax advice.

Crypto Tax — UK vs US Quick Reference

🇬🇧 United Kingdom (HMRC)

Disposals trigger CGT: sell for £, swap one coin for another, spend, or gift (except to spouse)
2026/27 annual exempt amount: £3,000
CGT rates (post 30 Oct 2024): 18% basic-rate, 24% higher-rate
Cost basis method: s.104 pooling (averaging) + same-day + 30-day rules
Staking, mining, airdrops: income tax at marginal rate at receipt; then enters the s.104 pool for future CGT
Reporting: SA108 with Self Assessment if proceeds >£50,000 or gains >£3,000

🇺🇸 United States (IRS)

Crypto = property — every disposal is a capital event
Long-term (held > 12 months): 0% / 15% / 20% based on taxable income
Short-term (≤ 12 months): taxed as ordinary income (10–37%)
Cost basis: FIFO default, may elect Specific ID, HIFO, LIFO with records
Mining/staking rewards: ordinary income at FMV when received; basis carries forward
Reporting: Form 8949 + Schedule D, plus Schedule 1 for staking/mining; the 1040 digital-asset question must be answered by everyone
NIIT: additional 3.8% on net investment income above $200K single / $250K joint

What Counts as a Taxable Event?

Yes (taxable): selling crypto for fiat • swapping BTC ↔ ETH ↔ stablecoins • spending crypto on goods/services • staking/mining/airdrop receipts • DeFi yield withdrawals • NFT sales

No (not taxable): buying crypto with fiat • moving between your own wallets • gifting to spouse (UK) • transferring to spouse (US, basis carries) • HODLing (no disposal yet)

Tax-Loss Harvesting

If you have losing positions, realising the loss before tax year-end (UK: 5 April; US: 31 December) can offset gains. UK has no wash-sale rule, but the 30-day matching rule prevents same-day buybacks. US has no wash-sale on crypto (yet) but legislation has been proposed.

Record-Keeping Essentials

HMRC and the IRS expect you to keep these records for each transaction:

Date of acquisition and disposal
Type of crypto and quantity
Value in £/$ at the time of each event
Cumulative running total of holdings
Wallet addresses and counterparties (for traceability)

Tools like Koinly, CoinLedger, CoinTracker and CryptoTaxCalculator import directly from exchanges/wallets and produce a per-lot HMRC or IRS report. For more than ~50 transactions per year, dedicated software is essentially mandatory.

⚠️

Important Note: This calculator is a planning aid using flat-rate aggregated maths. Real UK CGT requires share-pool tracking; real US capital gains requires lot-level FIFO/HIFO tracking with cost-basis adjustments. State income tax (US) and Scottish/Welsh income tax variations are not modelled. Always consult a qualified crypto-savvy accountant for filings.

Related Calculators

Capital Gains Tax — CGT on shares, property and crypto.
Crypto Staking Rewards — Project ETH, SOL, ADA, DOT staking rewards with compounding and price scenarios.
Dividend Tax Calculator (UK) — 2026/27 dividend tax with the £500 allowance and full band breakdown.