Income tax on Cryptocurrency staking

startrim Posts: 64 Forumite
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I am aware that profits over £6000 from Crypto is subject to CGT in 2023/2024.

I have read a lot of HMRC pages and other tax related articles on staking taxation and understand that it is subject to income tax.

"The focus so far has been on crypto capital gains. That said, UK residents might also need to pay taxes on crypto income streams. This includes profits made from staking, lending, and savings accounts.
What’s more, crypto income is defined as miscellaneous income. UK residents can make up to £1,000 in miscellaneous income without paying taxes. Anything above the £1,000 threshold should be added to your total income for the year."

My question is, if staking rewards are subject to income tax (at the price when unstaked), is CGT also owed when the staking rewards are sold?


  • eskbanker
    eskbanker Posts: 31,023 Forumite
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    I presume that this scenario is analogous to dividend income from other asset classes, i.e. the fact that the income stream is subject to income tax (with allowances) doesn't alter the fact that capital gains are subject to CGT.
  • startrim
    startrim Posts: 64 Forumite
    First Anniversary First Post
    Thank-you eskbanker.
    I presumed that also but have been unable to find it written anywhere.
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