My 13 yo daughter creates NFTs and sells them on OpenSea. If this is not the first year you need to think about how to do your crypto taxes and if you love trying to be efficient as much as I do, you will probably have looked around for a better way to approach this than manual calculations. Whenever you make money from selling crypto, its likely that HMRC will charge you for capital gains taxes just like how you pay taxes on profits from stock trading. If you would like your accountant to help reconcile transactions, you can invite them to the product and collaborate within the app. The rest will be done for you. Consider hiring an accountant. Additionally, you should be very careful when filing your self-assessment. The information in this website is no substitute for specialist advice. Simply import details of any cryptocurrencies you have bought or sold from one of the supported trading exchanges, and add any spending or donations you might have made from your wallet, any mined coins, or income you have received. Not sponsored or anything but came across CryptoTaxCalculator.io @CryptoTaxHQ. E-mails are typically answered within hours (sometimes faster) by folks that clearly understand crypto taxes and really seem to care. Youll still need to pay Capital Gains Tax on the gain you make after youve received them. Recaps also partnered with a local accountancy firm, Wright Vigar, to make sure it is compliant with the law. Jones thinks this is a good idea, but if you use it, HMRC have the right to challenge it, and you need to have the backing documentation to justify the stance you've taken, he said. You will need to pay a tax if you have any cryptocurrency you decide to get rid of (sell, present, donate, etc.). I tried for several hours to do it myself. News stories, speeches, letters and notices, Reports, analysis and official statistics, Data, Freedom of Information releases and corporate reports. Claim your tax-savings today with CoinLedger! These wallets are convenient, allowing you to access and manage your cryptocurrency quickly. Tax lots entail a cost basis (the amount you originally paid for the crypto), time held, and the price at which you sold the crypto. This tax guide is regularly updated: Last Update. I hope this sheet can be useful to you.
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