Are you profiting from cryptocurrency trading but unsure of your tax obligations on your most recent profits? In the UK, you’ll need a specialised crypto accountant, and Crypto Tax Online are here to help.

Our Cryptocurrency Accounting package is specifically designed for businesses and individuals engaged in digital asset transactions. It provides specialised services for recording and reconciling cryptocurrency transactions, navigating tax compliance, and preparing financial statements inclusive of digital assets. Tailored for those in the blockchain space or those diversifying into digital currencies, this package offers the expertise and advisory services needed to manage the unique challenges and opportunities presented by cryptocurrency transactions.

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Services Included:

• Cryptocurrency Transaction Accounting: Recording and reconciling transactions involving Bitcoin, Ethereum, and other major cryptocurrencies.
• Tax Compliance for Cryptocurrency: Navigating the complex tax implications of buying, selling, and trading digital assets.
• Financial Statement Preparation: Including cryptocurrency assets and transactions in financial statements following relevant accounting standards.
• Audit Support for Cryptocurrency Transactions: Providing necessary documentation and support for audits involving digital assets.
• Advisory Services: Offering insights on best practices for cryptocurrency accounting, risk management, and compliance with evolving regulations.
• Integration with Traditional Accounting: Ensuring seamless integration of cryptocurrency transactions with traditional financial records.

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How Is Crypto Taxed:

The majority of people will have to pay Capital Gains Tax on their profits from cryptocurrency trading.

Calculating any profit from cryptoassets can be difficult since many cryptoassets are traded on exchanges that do not use pound sterling and it is common for one cryptoasset to be exchanged for another. This can be complicated further by the volatility of the crypto market and the valuation of your cryptoassets upon disposal.

In rare cases, an individual will be considered to be carrying on a business by trading cryptoassets and will be required to pay Income Tax and National Insurance on their cryptoassets, the most common of which are:

• Mining activities
• Transaction Confirmation
• Airdrops
• Yield farming

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