Mar 28, 2023 .
Gains and losses from cryptoassets
Did you invest in Bitcoin or other similar “cryptocurrency”?
Disposals or exchanges of cryptoassets may give rise to gains that are taxable for capital gains tax (CGT) purposes, or allowable losses. Taxable gains arising between 6 April 2021 and 5 April 2022 should have been reported on a taxpayer’s self-assessment tax return due by 31 January 2023, and any associated tax paid by that date.
Be aware that any gains made in the current tax year will need to be reported on the 2022/23 tax return.
Gains on cryptoassets can arise in a number of ways, not only on transactions that individuals may
identify as disposals.
