Chris

[Chris @Chris3691]

@Garmin Have sent DMs but not sure if they’re going through!

[Cryptoccountant @CryptoTax_UK]

Most investors think their tax position is locked in once the tax year ends today.

But that’s not necessarily true.

The 30-day rule can change your calculations retrospectively.

And it works across tax years.

Here's how it works 🧵👇

[Cryptoccountant @CryptoTax_UK]

Adding a practical tax point to this.

If former UK residents in Dubai return to UK residency within five years of leaving, the UK’s temporary non-residence rules could bring certain income or capital gains realised while non-resident back into the scope of UK tax.

A prolonged conflict could unexpectedly trigger that for some.

#uktax

[Cryptoccountant @CryptoTax_UK]

A quick CARF reality check, because there are a lot of claims flying around today.

Firstly, it’s not “just in” - we’ve known for months that the UK is adopting CARF.

Also, CARF does not send HMRC a line-by-line report of every trade you make.

The CARF schema shows that transactions are reported in aggregate, grouped by asset type and transaction type. For example:

• BTC - 10 crypto-to-fiat disposals, total proceeds £10,000
• ETH - 5 crypto-to-fiat disposals, total proceeds £5,000
• ETH - crypto-to-crypto disposals, total market value £8,000

These are taxable disposals, and if these are the only types of transactions you make, HMRC will be able to sense-check two things on your tax return easily:

1.Number of disposals
https://t.co/9pw7ZY1ulJ proceeds/value

But CARF also reports transfers in/out to another crypto asset service provider, and this is where it gets messy.

Transfers could be a mix of:

• Taxable disposals (gifts outside a spouse, paying for goods/services)
• Non-taxable (moving coins between exchanges in your own name, spousal transfers)

But CARF doesn’t distinguish between these. HMRC will just see “activity”.

So a high volume of transfers with no corresponding entries on a tax return could trigger questions or a nudge letter.

As always, keeping clear records is the best defence. If HMRC asks, you want everything in place to respond quickly.

#CryptoTax #CARF #HMRC #UKTax

[Cryptoccountant @CryptoTax_UK]

Just a heads-up for UK investors: you can’t obtain a tax loss by selling and immediately re-buying the same crypto due to the bed and breakfast rules.

But you can consider alternatives such as selling BTC and buying a Bitcoin ETN instead. Different asset asset = different pool

Or you could sell and your partner could open a similar position. Same exposure collectively, but you bank the loss.

#CryptoTax #UKTax

[Chris @Chris3691]

@robprogressive Because the American system is what everyone fears. Time for politicians to put some credible options forward.

Even with private health insurance, you’re still held back from treatment by lack of GP appointments to get a referral.

[Chris @Chris3691]

@robprogressive The billionaire that wants to return with his staff … originally emigrated with his staff, did he?

[Cryptoccountant @CryptoTax_UK]

Using Gemini’s new staking offer in the UK?

Here's what it means for your taxes:

💰 Staking rewards are usually treated as taxable income when you receive them
💡 You may be able to use the £1,000 Trading Allowance to reduce the taxable amount
📈 Selling the rewards later? CGT may apply if the value has increased

#staking #gemini #uktax #cryptouk #cryptotax #eth #sol

[Cryptoccountant @CryptoTax_UK]

Friendly reminder for UK investors:

Spending crypto counts as a taxable disposal under HMRC rules.

Use #xrp to book with Emirates, and you could crystallise a tax liability if you’ve made a gain!

#crypto #cryptotax #uktax

[Cryptoccountant @CryptoTax_UK]

Thinking of gifting crypto?

Even when you receive nothing in return, there can still be a tax liability.

Our latest guide covers:

🎁 Are crypto gifts taxable in the UK?
✅ When is gifting crypto tax-free?
❤️ Gifts between spouses and civil partners
💷 Can you gift crypto to avoid tax?
⚰️ Inheritance Tax considerations for crypto gifts

If you’re considering giving crypto to family or friends, now or in the future, it’s worth knowing the rules.

Read the full article: https://t.co/5S35ZDDMkX

#cryptotax #cryptogift #uktax #cryptouk #crypto

[Cryptoccountant @CryptoTax_UK]

Want to pay less crypto tax this year?

These five tax planning tips will help you manage your crypto tax 📈

All the tips in this guide:

✅ Are straight forward
✅ Don’t require you to move abroad
✅ Are based on current HMRC rules
✅ Involve no dodgy schemes, just effective planning

🔗 - https://t.co/ebKpuTBAQb

#CryptoTax #UKTax #Crypto

[Cryptoccountant @CryptoTax_UK]

Lost money on crypto?

Don't lose out on potential tax savings.

Even if you never invest in crypto again, those old losses could reduce your future tax bill on gains from other assets.

𝗕𝘂𝘁 𝗼𝗻𝗹𝘆 𝗶𝗳 𝘆𝗼𝘂 𝗿𝗲𝗽𝗼𝗿𝘁 𝘁𝗵𝗲𝗺 𝗶𝗻 𝘁𝗶𝗺𝗲.

Our new guide explains:

• How to calculate your losses
• How they offset gains
• The deadlines for reporting them

Don't wait until you next make gains only to find your old losses have expired.

Read the full guide: https://t.co/KcYAqaEyFB

#cryptotax #uktax #cryptouk #taxtips

[Cryptoccountant @CryptoTax_UK]

Looking certain there will be more tax rises in the Autumn Budget.

For crypto investors, could this mean:

• CGT rates heading even higher?
• Another squeeze on the annual exemption?

What are your predictions?

#CryptoTax #UKTax #Budget2025 #CGT

[Cryptoccountant @CryptoTax_UK]

Funny how some regulators see crypto as gambling and something we need to be protected from…

Until tax time.

If it really was gambling, gains would be tax‑free.

But HMRC treats it as an asset, just like investing in traditional shares.

#CryptoTax #UKTax #CryptoRegulation #coinbase

[Chris @Chris3691]

@CryptoTax_UK Not too dis-similar to the FCA “protecting” retail investors from crypto products, ETFs etc, whilst Bitcoin has gone on to deliver the best long term returns of any asset class.

[Cryptoccountant @CryptoTax_UK]

Have you filed your 2024/25 crypto taxes yet?

If so, you may have noticed a change.

For the first time, HMRC now requires crypto gains to be reported separately from “other capital gains”. Required information includes:

• Number of disposals
• Total disposal proceeds
• Total gains

From 2026, HMRC will also receive exchange data under the Crypto Asset Reporting Framework, linked to your tax ID.

When combined with your Self Assessment data, it will be much easier for HMRC to identify omissions and inconsistencies.

More crypto nudge letters coming in 2027?

#cryptotax #uktax #crypto #cryptouk #selfassessment #carf

[Cryptoccountant @CryptoTax_UK]

“𝗦𝘄𝗮𝗽𝘀 𝘀𝗵𝗼𝘂𝗹𝗱𝗻’𝘁 𝗯𝗲 𝘁𝗮𝘅𝗮𝗯𝗹𝗲… 𝗿𝗶𝗴𝗵𝘁?”

Some think crypto swaps should be tax-free.

But here’s the thing: this is not unique to crypto.

Swaps have always been taxable, even in traditional finance.

HMRC applies the same principle across all asset classes: exchanging one asset for another is usually a disposal for tax purposes.

Read our take on why crypto swaps are taxed and why that is unlikely to change:

🔗 https://t.co/suuUCGvpDJ

#crypto #tax #cryptotax #uktax #cryptouk

[Cryptoccountant @CryptoTax_UK]

An interesting question via our social channels this week:

“𝘐𝘴 𝘴𝘵𝘢𝘬𝘪𝘯𝘨 𝘪𝘯𝘤𝘰𝘮𝘦 𝘤𝘰𝘷𝘦𝘳𝘦𝘥 𝘣𝘺 𝘵𝘩𝘦 𝘗𝘦𝘳𝘴𝘰𝘯𝘢𝘭 𝘚𝘢𝘷𝘪𝘯𝘨𝘴 𝘈𝘭𝘭𝘰𝘸𝘢𝘯𝘤𝘦 (𝘗𝘚𝘈)?”

𝗦𝗵𝗼𝗿𝘁 𝗮𝗻𝘀𝘄𝗲𝗿: No, as staking rewards are not interest.

Interest is a return on money.

In network-based staking, rewards are received for participating in the network.

In DeFi-based staking, the assets involved are not classed as money.

HMRC expects staking rewards to be treated as miscellaneous income (or self‑employment income if it amounts to running a business).

𝗧𝗵𝗲 𝗴𝗼𝗼𝗱 𝗻𝗲𝘄𝘀:

Most investors can use the £1,000 trading allowance instead.

This keeps your PSA free for any bank interest you earn.

Plus, the Trading Allowance is available to everyone, whereas the PSA depends on your income (£1,000 / £500 / £0).

#crypto #cryptotax #cryptouk #uktax #staking

[Cryptoccountant @CryptoTax_UK]

Can you really get tax-free Bitcoin exposure through an ISA?

A growing number of investors think they’ve found a Bitcoin tax loophole using ISAs, usually by buying shares in companies that hold BTC.

While it can help reduce tax, this strategy can come with other risks and greater volatility.

In this article, we’ve covered how these indirect strategies work and what to watch out for.

Read the full article: link in the comments 👇

#isa #bitcoin #btc #crypto #cryptocurrency #cryptotax