Our Guide To Cryptocurrency Income

Understanding how to report cryptocurrency to HMRC is becoming increasingly important. As crypto assets like Bitcoin and Ethereum continue to gain popularity, more individuals are finding themselves unsure of how these transactions are taxed—and unaware that they may have reporting obligations they haven’t yet met.

At R J Francis & Co, we understand that cryptocurrency can be complex and fast-moving, especially when it comes to tax. Many people don’t realise that selling or exchanging crypto, or even using it to pay for goods or services, can give rise to a Capital Gains Tax (CGT) liability. Others may not be aware that receiving crypto as payment, whether through freelancing, mining, staking, or airdrops, can be treated as income and taxed accordingly.

HMRC has issued increasingly clear guidance on how cryptocurrency is treated for UK tax purposes, and it expects taxpayers to keep detailed records and report all relevant activity through the Self-Assessment system. Failing to do so could result in penalties or enquiries. However, knowing what needs to be declared, when to do it, and how to calculate the figures can be daunting.

That’s why we’ve created this clear, practical guide to HMRC cryptocurrency reporting. Whether you’re a casual investor, a freelancer paid in crypto, or someone holding assets on a foreign exchange, this article will help you understand:

• What HMRC considers a taxable event
• How to calculate and report capital gains
• When income tax applies to crypto payments
• What records you must keep, and for how long
• How to stay compliant and avoid penalties

Click the image below to download the guide and get started.

This guide is designed to give you confidence in your obligations and clarity on your next steps. If you’re still unsure or your circumstances are more complex, our experienced team at R J Francis & Co is here to help. We offer practical, up-to-date advice tailored to your situation. Please get in touch if we can support you with this.