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Calculator

Crypto Tax Calculator

Use our free calculator to estimate how much crypto tax you owe

Your Details

The total amount you got from trading crypto during the tax year
The total income you got from crypto mining during the tax year
The total income you got staking crypto during the tax year
The amount you spent buying and trading crypto. We’ll use this to calculate your crypto trading gains

Your Tax

Total income from crypto

£0

Minus tax-free CGT allowance

£1,000

Capital Gains Tax to pay

£0

What you are left with

£0

Using the calculator to estimate how much crypto tax you owe

The way you earn your crypto profits affects the type of tax you need to pay, so you’ll start by entering a breakdown of each activity. You’ll normally need to pay Capital Gains Tax on the profits you get from trading, and Income Tax on mining and staking – but it all depends on the total amount you make in a year. For example, you might not pay any Income Tax on the first £12,570 you get each year if you’re entitled to the full amount of your tax-free Personal Allowance.

The calculator will use your figures to estimate how much crypto tax you owe. It will take into account any other income you declare because this affects what tax-free allowances you can get. You’ll also be able to enter the details of any crypto-related expenses because you can offset these against your tax bill.

We wrote an article which explains how crypto tax is worked out in more detail.

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How do I pay crypto tax?

You might be able to use the Capital Gains Tax real time service if you only need to tell HMRC about Capital Gains. Otherwise, you’ll need to sign up for Self Assessment and submit a tax return to report your crypto earnings, with separate sections for Income Tax and Capital Gains Tax. Keeping good records will help you report everything accurately!

If you handle all your crypto through your own limited company, you’ll need to include the details on its Company Tax Return.

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FAQs

Do I need to pay tax on crypto if I move it into a different wallet?

No, you won’t be taxed on crypto you move from one wallet to another as long as they’re both in your name.

What kind of tax do I pay on trading, mining, or staking crypto?

The kind of tax you pay depends on how you make money from crypto. Trading and mining profits are usually subject to Capital Gains Tax, but you’ll pay Income Tax on any profits you make from staking.

What’s the difference between Capital Gains Tax and Income Tax?

Capital Gains Tax is sometimes payable if you ‘dispose’ of an asset and it’s increased in value. A disposal might mean that you sold it, but it can also mean you gave it away, or were compensated for its loss in some way. Income tax is charged on income you receive, such as a salary or payment for providing services.

Why does the calculator need to know about other income?

Our crypto tax tool uses the details of any other income you receive to work out your tax band. This is so it can estimate the tax you’ll need to pay on your crypto more accurately.

How do I reduce my crypto tax bill?

You may be able to deduct some of your costs, such as transaction fees, when working out how much you owe, and pay tax on the profit or ‘gain’ left over. The rules around this can be quite complicated, so it’s well worth chatting to your accountant first!

Will I need to pay National Insurance on crypto earnings?

This depends on how you earn crypto. You won’t normally need to pay National Insurance on the gain you get from trading crypto, but if you need to pay Income Tax on mining and staking, then you’ll probably need to consider NI too.

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.