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Taxation on small amounts of profit

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Hi guys!

If I am gonna earn in this year small amounts of money of profit from crypto (like 100-200 GBP per year) do I need to report it to the HMRC?

Many thanks

Comments

  • Jeremy535897
    Jeremy535897 Posts: 10,733 Forumite
    10,000 Posts Fifth Anniversary Photogenic Name Dropper
    Normally the purchase and sale of cryptocurrency is a capital gains tax matter. If the total proceeds of all capital assets (including cryptocurrency) sold in a tax year is £49,200 or less, and the capital gains are £12,300 or less, you need not report the gains, even if you complete a self assessment tax return (if you don't have to complete one, all you need worry about is whether your total gains will exceed £12,300).
  • krippo
    krippo Posts: 75 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Many thanks!!!

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