Crypto Tax Calculator — United Kingdom 2026/27 (HMRC CGT Rules)
Sold crypto? Work out what you owe the tax office.
Estimate UK crypto tax with GBP proceeds, pooled cost basis, HMRC disposal rules, annual exempt amount, income-tax bands, and cryptoasset income context.
UK Crypto Tax Notes
UK crypto tax uses HMRC disposal, pooling, annual exempt amount, and income rules rather than an Australian discount model.
This version keeps GBP and HMRC language visible so the page is distinct from the Australian calculator.
UK-specific treatment for crypto tax: figures are framed in pounds, with British household or business wording and the assumptions commonly seen in PAYE, HMRC, mortgage, pension, and consumer-credit contexts.
Watch for UK markers in the page copy and inputs: HMRC, PAYE, National Insurance, pension contributions, stamp duty land tax, miles, APR, part-exchange, council tax, VAT, and GBP-based totals.
The result should be read as a United Kingdom estimate, so compare it with UK provider quotes, HMRC or GOV.UK guidance, lender affordability rules, devolved-nation differences, or regulated advice where needed.
Estimates only. Not financial or tax advice. Consult a registered tax agent for personalised advice.
Select the topic most relevant to your situation.
HMRC treats cryptocurrency as a capital asset, not currency. Every disposal is a Capital Gains Tax event. After deducting the £3,000 annual exempt amount, the gain is taxed at 18% (basic-rate band) or 24% (above it) — there is no holding-period discount.
Any event that results in you no longer holding the cryptocurrency: selling for GBP, swapping for another crypto, spending it on goods/services, gifting it, or losing access permanently. Each disposal is a separate CGT event requiring calculation.
Capital gain = proceeds − cost basis. Cost basis includes the pooled purchase price plus any fees (exchange fees, gas fees, brokerage). For swaps, the “proceeds” figure is the market value of the crypto received on the day of the swap.
The taxable gain (after the £3,000 exempt amount) is stacked on top of your income. The part falling within your remaining basic-rate band (up to £50,270) is taxed at 18%; anything above is 24%. The calculator models this automatically in Standard mode.
Every individual gets a tax-free annual exempt amount of £3,000 (2024-25) for capital gains across all assets. Only gains above this allowance are taxed. There is no UK holding-period discount — how long you held the crypto does not change the rate.
Every UK individual gets the £3,000 allowance once per tax year, shared across all chargeable assets (shares, property, crypto). Trusts get half. It cannot be carried forward — use it or lose it.
The allowance removes £3,000 of gain from tax. At the 24% higher rate that is £720 saved; at the 18% basic rate it is £540. The benefit is the same whether you held for one month or ten years.
No — the allowance only reduces gains. Capital losses are carried forward in full (once reported to HMRC within four years) to offset future capital gains, with no expiry.
Many crypto transactions that feel like “not selling” are actually CGT events under HMRC rules. Each one requires a separate calculation.
Swapping BTC for ETH is a disposal of BTC at market value on the day of the swap, and an acquisition of ETH at the same value. Both legs are recorded. The 12-month clock restarts for the ETH received.
Staking rewards and mining income are ordinary income (not CGT) in the year received, at market value on the date of receipt. When you later sell the rewarded tokens, that is a CGT event — with cost base equal to the value when received.
Using crypto to pay for goods/services, or gifting crypto, are both disposals at market value. Gifts to a spouse or civil partner are exempt (no-gain/no-loss); gifts to anyone else are a disposal and the donor triggers the CGT event.
The HMRC requires you to keep records for every crypto transaction. Failure to keep adequate records makes it impossible to calculate your true cost base and may result in assessments based on the full sale price.
Date of each transaction, GBP value at time of transaction (not today’s value), exchange records and confirmations, wallet addresses involved, and any fees paid. Records must be kept for 5 years after the disposal.
Where you have multiple purchases of the same asset, you can use FIFO (first in first out), specific identification, or other methods. The method must be consistent. Most crypto tax software defaults to FIFO — check which method your tax agent uses.
Report gains through Self Assessment (SA108 Capital Gains pages) or HMRC's real-time CGT service. Use HMRC online or an accountant. UK exchanges share data with HMRC — they already know what you traded, so omitting gains is high-risk.
HMRC rules — cost base, disposal, and tax calculation
The CGT formula
Capital gain = proceeds − cost basis. Cost basis includes the original purchase price plus any fees (exchange fees, gas fees, brokerage, and any allowable costs of acquiring the asset). Deduct the £3,000 annual exempt amount to get the taxable gain. Tax = taxable gain × the applicable CGT rate (18% or 24%).
HMRC crypto CGT rates 2024-25
| Where the gain falls (stacked on income) | CGT rate |
|---|---|
| Covered by the £3,000 annual exempt amount | 0% |
| Within your remaining basic-rate band (up to £50,270) | 18% |
| Above the basic-rate band | 24% |
Your taxable gain is stacked on top of your other income. If you earn £40,000 and make a £17,000 taxable gain, the slice up to £50,270 (£10,270) is taxed at 18% and the remaining £6,730 at 24%. These are the rates that apply to disposals on or after 30 October 2024.
Annual exempt amount: who gets it and how much it saves
How the £3,000 allowance works
Every UK individual has a £3,000 annual exempt amount for 2024-25, shared across all chargeable assets in the tax year. Only gains above the allowance are taxed. Unlike Australia, there is no holding-period discount — how long you held the crypto makes no difference to the rate.
Tax saved by the exempt amount (per £3,000 of gain removed)
| CGT rate on the gain | Saving from the £3,000 allowance |
|---|---|
| 18% (basic-rate band) | £540 saved |
| 24% (above basic-rate band) | £720 saved |
All crypto transactions that trigger CGT under HMRC rules
| Transaction type | CGT treatment |
|---|---|
| Sell crypto for GBP | CGT event — standard disposal |
| Crypto-to-crypto swap | CGT event on the crypto given up at market value |
| Buy goods/services with crypto | CGT event at market value on date of use |
| Gift crypto | CGT event for donor at market value on gift date |
| Staking rewards received | Ordinary income (not CGT) at market value |
| Mining rewards received | Ordinary income at market value on receipt |
| Airdrop received | Generally ordinary income at market value |
| Lost or stolen | Possible capital loss if ownership permanently lost |
| Transfer between own wallets | NOT a CGT event — no disposal |
What records The HMRC requires and how to maintain them
Required records for each transaction
- Date of acquisition and disposal
- GBP value at time of each transaction (not current value)
- Exchange statements or transaction confirmations
- Wallet addresses for both parties (where applicable)
- Any fees paid (these reduce your capital gain or form part of cost base)
How long to keep records
HMRC requires you to keep records for at least 22 months after the end of the tax year (or longer if you file late or are under enquiry). For assets still held, keep acquisition records until well after the eventual disposal is reported.
Crypto tax software
Koinly, CoinTracker, and CryptoTaxCalculator.io are commonly used by UK crypto investors. They import exchange API data and produce HMRC-compatible reports. Using software reduces errors significantly, particularly for high-volume traders or DeFi participants with complex transaction histories.
❓ Frequently asked Frequently asked questions
Do I have to pay tax on crypto in the United Kingdom?
Yes. The HMRC treats cryptocurrency as a capital asset. Every disposal (sale, swap, spending, gifting) is a CGT event. Staking and mining rewards are ordinary income. The HMRC receives data from UK exchanges and actively matches it against tax returns.
What is the annual exempt amount for crypto?
It is a tax-free allowance of £3,000 (2026/27) that applies to total capital gains across all assets in a tax year. Gains within the allowance are not taxed; only the excess is. Crypto gains above the allowance are taxed at 18% within your basic-rate band and 24% above it — there is no holding-period discount in the UK.
Is swapping one crypto for another a taxable event?
Yes. The HMRC treats a crypto-to-crypto swap as a disposal of the first asset at market value on the date of the swap. You calculate the CGT on the first asset, then your cost base for the second asset is its market value on the date you received it.
Are staking rewards taxable in the United Kingdom?
Yes — as ordinary income, not capital gains. Staking and mining rewards are assessed at their GBP market value on the date you received them. When you later sell those rewards, you will also have a CGT event based on the difference between the receipt value and sale price.
Can I offset crypto losses against my salary?
No. Capital losses can only offset capital gains — either in the same year or carried forward to future years. They cannot be applied to reduce ordinary income such as salary, wages, or business income. The losses carry forward indefinitely with no expiry.
Where these figures come from
Every threshold and tax rate on this page is taken from HMRC — the source of record for UK income tax, National Insurance, student loan repayment, and capital gains tax.
- Individual income tax rates (2026/27) — GOV.UK — Income Tax rates and Personal Allowance.
- National Insurance — GOV.UK — National Insurance.
- Student loan repayment — GOV.UK — Repaying your student loan.
- Capital Gains Tax rules & rates (18% / 24%, £3,000 annual exempt amount) — GOV.UK — Capital Gains Tax.
- Tax on cryptoassets — HMRC — Tax when you sell cryptoassets.
- Tax reliefs & allowances — GOV.UK — Income Tax reliefs.
Last checked: July 2026. Rates and thresholds are reviewed against the source of record each November, when annual adjustments for the following tax year are published.