There are multiple ways to file your tax report
Step 1
Download your full tax report
After importing all your data into ACCOINTING.com we will automatically generate a full tax report for your crypto trading history to include in your tax return.
Download the PDF file here.
Step 2
Understand your tax report
The full tax report gives you an overview of all your investments, taxable and non taxable gains, income and margin trading.
You will find an overview of:
1. Disposal proceeds
2. Allowable costs
3. Gains and losses
4. Income from airdrops, staking and more
5. Margin trading
6. Other costs
Every trade that is crypto to fiat or crypto to crypto creates disposal. This disposal is either a taxable or non taxable event depending on the classification. For the UK, ACCOINTING.com uses pooling to calculate the correct gains and losses for all your investments.
Step 3
Enter your personal data and crypto tradings in your tax return
Download the capital gains summary and enter the information from your ACCOINTING.com tax report in the following fields:
- Field #14: Number of Disposals
- Field #15: Disposal proceeds
- Field #16: Allowable costs
- Field #17: Gains in the year before losses
- Field #19: Losses in the year
- Field #21: Net capital gains/losses
You will also find a summary of all the different incoming transactions per asset and classifications in your ACCOINTING.com report. We have detailed instructions for every classification in our UK Tax Guide.
Anyone who has capital gains or losses during the tax year doesn't need to file their taxes if their profits are less than the annual CGT allowance (£12,000 in 2019).
Step 4
Complete your tax return
Now that you have entered all of your cryptocurrency gains, losses, and income in your reporting files, you can complete your returns.
If you want to use a tax tool to complete your tax return, you can read about different integrations here or send the files to your CPA. If you need help finding a new CPA, you’ll find a list here.
