Capital Gains Tax on Crypto in the UK

Zobia Khan

Capital gains tax refers to the Tax imposed on the profits when selling Cryptocurrency, this can include sale of shares.

The Capital Gains Tax is not automatically deducted by the HRMC like other taxes, The user must report the Capital Gains Tax (CGT) to the HMRC. If you fail to report the HMRC them they will fine you should you fail to notify them of the report.

How Much is the Capital Gains Tax?

The Capital Gains Tax (CGT), differs from the income tax rates and are labelled into 2 different categories: Basic-rate payers and the additional-rate payers. Following the Autumn budget on 30th October 2024, the Basic-rate payers will pay an 18% when selling shares above 10%. The Higher-rate payers will pay an extra 24% from selling shares above 20%.

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