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Where to add details of gains made from cryptocurrency
mcgtech
Posts: 14 Forumite
in Cutting tax
I am attempting to declare profits made on cryptocurrency for the 2020-2021 tax year in my self assessment online form, but once in the 'Capital gains section' I am not sure which section to complete as none seem appropriate: Residential property and carried interest, Other property, assets and gains, Listed Shares, Unlisted Shares, Non-resident Capital Gains Tax (NRCGT) on UK property or land and indirect disposals.
Can anyone point me in the right direction?
Can anyone point me in the right direction?
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Comments
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If you don't get an answer here, you can call HMRC on 0300 200 3310 to ask this question.
I would like to know the answer to this question too, so please post back what HMRC tell you if you do end up calling them.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0 -
Other property, assets and gains. Cryptocurrency is an asset.
See https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassets for guidance on the gain.1 -
Thanks Jeremy.
Would 'Number of disposals' correspond to total Bitcoin sold during the period?
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No - this refers to the number of transactions. Pooling rules apply as with shares.mcgtech said:Thanks Jeremy.
Would 'Number of disposals' correspond to total Bitcoin sold during the period?
https://www.rossmartin.co.uk/private-client-a-estate-planning/capital-gains-tax/5429-how-are-bitcoin-cryptocurrencies-or-cryptoassets-taxed-in-the-uk-at-a-glance
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Thanks purdyoaten20
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The rules can be complex. Detailed guidance here:
https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual
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