Record Keeping

Record keeping primarily lies in the hands of the individual holding cryptoassets. While crypto exchanges provide some form of transaction records, these records last only a limited time and could no longer be existing come the time for tax return filing.

Hence, you, as the prudent crypto holder, should keep a record of the following, encompassing all cryptoassets you have:

• Cryptoasset type

• Transaction dates

• Number of units

• Transaction values in pound sterling

• State of the tokens (bought or sold)

• The cumulative total of all crypto investment units held

• Wallet address/es

• Bank statements