HMRC reminds cryptoasset holders of tax obligations
Ahead of this month’s filing deadline for the 2022/23 tax return, HMRC is urging cryptoasset holders to check if they need to report transactions. Does this affect you?

HMRC is concerned that individuals who sell or exchange cryptoassets may not be aware that they need to file a tax return, particularly as a charge can arise even if no money (in the traditional sense) is received. A return will be needed if capital gains, including any arising from transactions in cryptoassets, exceeded £12,300, or if aggregate disposal proceeds for the tax year exceed £49,200. HMRC says that you should check your position if you have made transactions involving cryptoassets, including:
- selling cryptoassets for money
- exchanging one type of cryptoasset for another
- using cryptoassets to make purchases
- gifting cryptoassets to another person
- donating cryptoassets to charity.
In some circumstances, the receipt of cryptoassets may be liable to income tax, e.g. where received from an employer or from mining activity. You should refer to the online guidance accordingly.
Related Topics
-
When will you have to register your new business for MTD?
The timetable for mandatory use of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) by existing businesses is well established. But when must you use MTD ITSA if you start a new business or create a new income stream?
-
EU law change for virtual events: how will it affect you?
Your business organises live events online, charging delegates a fee to attend. What are the rules about charging VAT and what changes took place on 1 January 2025 that will affect you if EU delegates attend your sessions?
-
Forthcoming changes to statutory sick pay
According to statistics from the Office for National Statistics (ONS), the rate of sickness absence fell to an average of 4.4 working days lost per worker in 2024, down from 4.9 days in 2023. Whilst this is good news for employers, forthcoming changes to statutory sick pay (SSP) are less good news. What do you need to know?