AI Summary
- Follows HMRC rules including Section 104 pooling for cost basis and the 30-day bed-and-breakfasting rule
- Capital Gains Tax allowance is £3,000 for 2024-25; gains above this are taxed at 10% (basic rate) or 20% (higher rate)
- Includes income events such as staking and airdrops where applicable
- Report is structured for use with Form SA108 (Capital Gains Summary) in Self Assessment
- Share with your accountant or use directly for Self Assessment filing
What Is in This Report?
This report compiles all your crypto tax information into one document for Self Assessment filing or sharing with your accountant.
How HMRC Treats Crypto
HMRC treats cryptocurrency as property (similar to stocks). Capital Gains Tax applies when you sell, trade, or spend crypto. Income Tax applies when you receive crypto as income (staking, airdrops, mining). The CGT Allowance is the first £3,000 of gains tax-free (2024-25 onwards; was £6,000 in 2023-24). CGT rates are 10% for basic rate taxpayers and 20% for higher rate taxpayers on gains above the allowance.HMRC Capital Gains Summary
This section summarises all crypto disposals during the tax year.
The report also includes Self Assessment filing tips, explaining how to report these numbers in Form SA108 (Capital Gains Summary).
Summary of Income from Crypto Derivatives
If you trade crypto derivatives such as futures or options, this section summarises your trading performance.
This section provides a high-level overview of derivatives trading activity during the tax year.
Other Income and Expense Summary
This section records crypto received as income, rather than through trading.
- Airdrops
- Staking rewards
- Mining income
- Salary received in crypto
- Consultancy payments
- Margin interest
- Mining expenses
- Donations
- Consultancy expenses
- Brokerage fees
Section 104 Pooling Explained
Unlike FIFO, the UK uses pooled cost basis. All holdings of the same crypto asset are combined into a pool. The pool tracks total quantity and total cost. When you sell, the cost basis is the average cost per unit from the pool. Example: Buy 1 BTC at £20,000, then buy 1 BTC at £30,000. Pool: 2 BTC with £50,000 cost. Average price = £25,000 per BTC. Sell 1 BTC at £35,000. Gain = £10,000. KoinX automatically applies Section 104 pooling for UK users.The 30-Day Rule (Bed and Breakfasting)
HMRC prevents loss harvesting through the 30-day rule. If you sell crypto and repurchase the same asset within 30 days, the sale must be matched with the repurchase transaction instead of the pool. Example: Sell 1 BTC at £35,000, then rebuy 1 BTC at £33,000 within 30 days. Gain = £2,000. KoinX applies this rule automatically when generating the report.Same-Day Rule
HMRC matching rules follow this order: same-day matching first, then the 30-day rule, then the Section 104 pool. KoinX applies this order automatically during tax calculations.Detailed Beginning of Year Balance of Assets
Shows the portfolio position at the start of the financial year.
Detailed End of Year Balance of Assets
Shows the portfolio position on the last day of the financial year.
- Shows your starting position for the year
- Helps verify that cost basis carry-forward is correct
- Useful for audit trail and reconciliation
Capital Gains Transactions
This section lists every taxable disposal of cryptocurrency.
This provides a detailed audit trail for HMRC reporting.
Crypto Derivatives Transactions
If derivatives trading occurred, the report includes a detailed list of these trades.
These transactions support the derivatives summary earlier in the report.
Other Income & Expense Transactions
This section lists every income and expense event recorded during the tax year.
- Staking rewards
- Airdrops
- Mining income
- Salary payments
- Donations
- Funding fees
- Consultancy income
Asset Wise Profit & Loss
This section summarises profit and loss for each cryptocurrency asset.
This helps identify which assets generated the most gains or losses.
CGT Allowance and Rates
For the 2024-25 tax year:
The report shows your total gains so you can determine how much exceeds the CGT allowance.
Data Sources
The final section lists all integrations used to generate the report, including exchanges, wallets, and custom files. This ensures transparency about where the transaction data came from.
Frequently Asked Questions
Which KoinX reports do I need as a UK user?
Which KoinX reports do I need as a UK user?
The Complete Tax Report (UK) is your main document. It includes HMRC-compliant calculations and summaries for Self Assessment.
How does the 30-day rule affect my report?
How does the 30-day rule affect my report?
If you sell and repurchase the same asset within 30 days, the sale is matched to the repurchase price rather than the Section 104 pool. KoinX automatically applies this rule.
Does this report comply with HMRC guidelines?
Does this report comply with HMRC guidelines?
Yes. The report uses Section 104 pooling, applies same-day matching, the 30-day rule, and calculates capital gains according to HMRC guidance.
Do I need to report crypto if I made a loss?
Do I need to report crypto if I made a loss?
Yes. Losses can offset gains in the same year or be carried forward to future tax years.
What CGT rate applies to crypto gains?
What CGT rate applies to crypto gains?
10% for basic rate taxpayers and 20% for higher rate taxpayers, after the £3,000 CGT allowance.