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A careful UK guide to input VAT on ASIC miners, electricity, hosting and repairs, including mining rewards, taxable supplies and apportionment.
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UK Crypto Tax Reporting: Records, Forms and Deadlines
A UK checklist for reporting crypto to HMRC, including mining income, SA108 gains, GBP valuations, losses, records and the 2026 CARF data rules.
A defensible return begins with a complete transaction and reward ledger, not a year-end exchange total. Income and disposals must be separated and reconciled in pounds sterling.
TL;DR
- A defensible return begins with a complete transaction and reward ledger, not a year-end exchange total. Income and disposals must be separated and reconciled in pounds sterling.
- Keep contemporaneous GBP valuations and evidence for income, acquisitions and disposals.
- Use current HMRC guidance and obtain qualified advice for the facts of your operation.
Build a complete ledger
Combine pool statements, wallet transactions, exchanges, bank records and direct payments. Record timestamps, quantities, GBP values, fees, counterparties and transaction identifiers. Identify transfers between your own wallets so they are not mistaken for disposals.
Separate income from gains
Mining, staking and some airdrops may be income. Sales, swaps, spending and most gifts may produce gains or losses. Companies and sole traders should align the crypto ledger to their accounts.
Self Assessment pages
Individuals normally use the relevant Self Assessment sections for trading or miscellaneous income and the SA108 Capital Gains summary for reportable gains and losses. The exact filing requirement depends on the person's circumstances and current HMRC thresholds.
Reporting losses
Claim allowable capital losses correctly and keep the calculation. Negligible-value claims have specific conditions and are not a substitute for recording a wallet, exchange or counterparty failure. Income losses follow different rules.
CARF does not file your return
From 2026, in-scope service providers collect and report user and transaction data. The first reporting period ends 31 December 2026 and reports are due by 31 May 2027. That information can help HMRC check returns but does not calculate your liability.
Correcting an error
Do not wait for HMRC to contact you. The correct route depends on the year and circumstances and may include amending a return or making a disclosure. Obtain advice where more than one period, offshore information or deliberate behaviour may be involved.
Useful next steps
Authoritative references
Use current official guidance because tax rules and HMRC guidance can change.
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