UK Crypto Tax Calculator
Calculate Capital Gains Tax on your cryptocurrency disposals. See how much CGT you owe on Bitcoin, Ethereum, and other crypto.
Updated for 2025/26 tax year (18%/24% rates from October 2024)
Your Crypto Gains
Basic rate if income under 50,270. Higher rate above that.
Used to calculate how much of your gains fall in the basic rate band
Enter the gain (profit) from each crypto sale, not the sale amount
Your CGT Breakdown
Annual exemption is 3,000 for 2025/26. CGT rates changed in October 2024 to 18%/24% for most assets including crypto.
Important Disclaimer
Cryptocurrency taxation is complex. This calculator provides estimates only and does not account for share pooling rules, same-day/30-day matching rules, bed and breakfasting, DeFi transactions, staking rewards, airdrops, or NFTs. Crypto-to-crypto trades are taxable events. Always consult a qualified tax professional for advice specific to your situation.
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How UK Crypto Tax Works
Cryptocurrency is treated as a form of property by HMRC, which means it is subject to Capital Gains Tax (CGT) when you dispose of it. Understanding when and how much tax you owe is essential for staying compliant.
What Counts as a Taxable Disposal?
You trigger a CGT liability when you:
- Sell cryptocurrency for pounds or other fiat currency
- Exchange one cryptocurrency for another (e.g., BTC to ETH)
- Use cryptocurrency to pay for goods or services
- Gift cryptocurrency to someone (except your spouse or civil partner)
Simply holding cryptocurrency or transferring between your own wallets is not a taxable event.
2025/26 CGT Rates for Cryptocurrency
From October 2024, CGT rates on most assets (including cryptocurrency) increased:
- 18% Basic Rate - If your total taxable income (salary plus gains) keeps you in the basic rate band (under 50,270)
- 24% Higher Rate - If your total taxable income exceeds the basic rate threshold, or you are already a higher/additional rate taxpayer
The annual CGT exemption for 2025/26 is 3,000 - down from 6,000 the previous year and 12,300 before that.
Share Pooling and Cost Basis
UK tax rules require you to use share pooling to calculate your cost basis. This means averaging the cost of all tokens of the same type you own. However, two special rules take priority:
- Same-day rule: If you buy and sell the same crypto on the same day, those transactions are matched first
- Bed and breakfasting rule: Sales are matched to purchases of the same crypto within the following 30 days
These rules are designed to prevent artificial loss creation and can make crypto tax calculations significantly more complex.
DeFi, Staking, and Other Complexities
Beyond simple buying and selling, there are many crypto activities with different tax treatments:
- Staking rewards - Generally treated as income, taxed when received
- Airdrops - May be income if received for services, otherwise CGT when sold
- DeFi lending - Complex; may trigger CGT on entry depending on structure
- NFTs - Subject to CGT like other crypto assets
- Mining - Generally treated as trading income if done commercially
Remember: This calculator provides estimates for simple scenarios. If you have complex crypto activities, DeFi positions, or significant holdings, we strongly recommend consulting a tax professional who specializes in cryptocurrency.
Frequently Asked Questions
Everything you need to know about UK crypto tax
How is cryptocurrency taxed in the UK?
In the UK, cryptocurrency is subject to Capital Gains Tax (CGT) when you dispose of it. A disposal includes selling crypto for fiat currency, exchanging one crypto for another, using crypto to pay for goods or services, or gifting crypto (except to a spouse). You pay CGT on the gain - the difference between what you paid (cost basis) and what you received when disposing.
What are the UK crypto tax rates for 2025/26?
From October 2024, CGT rates for crypto are 18% for basic rate taxpayers and 24% for higher and additional rate taxpayers. These rates apply to most assets including cryptocurrency. The rate you pay depends on your total taxable income plus gains - if adding your gains keeps you in the basic rate band (under 50,270), you pay 18%. Above that threshold, you pay 24%.
What is the CGT annual exemption for 2025/26?
The Capital Gains Tax annual exempt amount for 2025/26 is 3,000. This means the first 3,000 of gains in each tax year are tax-free. This is significantly reduced from previous years (it was 12,300 until April 2023, then 6,000 for 2023/24). You can only use this exemption once per year across all your capital gains, not just crypto.
Do I need to report crypto gains under 3,000?
Yes, you may still need to report crypto disposals to HMRC even if your total gains are under the 3,000 annual exemption. You must report if the total value of all assets sold exceeds 50,000, or if you have any losses you want to carry forward. Many people use Self Assessment to report crypto gains, though HMRC's Real Time Capital Gains Service is also available.
How do I calculate my crypto cost basis?
UK taxpayers must use 'share pooling' rules to calculate cost basis. This means averaging the cost of all tokens of the same type. However, the 'same day' rule (matching sales to purchases on the same day) and 'bed and breakfasting' rule (matching to purchases within 30 days) take priority. This can make crypto tax calculations complex if you trade frequently.
Can I offset crypto losses against gains?
Yes, you can offset capital losses against capital gains in the same tax year. If your losses exceed your gains, you can carry the excess forward to future years indefinitely. To claim losses, you must report them to HMRC within 4 years of the end of the tax year in which the loss occurred. This can significantly reduce your tax bill if you've made losses on some crypto investments.