Kraken & Koinly Team Up To Tackle UK Crypto Taxes
Let's face it, crypto taxes are painful. But we've got some good news: Kraken UK and Koinly have teamed up to make reporting your crypto gains, losses, and income to HMRC that much easier come the January 31 tax deadline.
HMRC and other regulatory authorities in the UK have been laser-focused on crypto in recent years, with recent announcements including a mid-year rise to Capital Gains Tax rates, issuing letters to crypto investors they believe have failed to disclose gains, and new legislation to bring in greater legal protections for crypto owners. All this to say, it's important you report your crypto accurately.
Announced on November 6, 2024, this partnership aims to simplify the process of tracking and reporting taxes to HMRC and break down barriers to the mainstream adoption of crypto. Let's take a closer look at how it works.
2 easy ways to connect Kraken with Koinly
Koinly is the crypto tax calculator trusted by over 1 million crypto investors worldwide and the leading crypto tax calculator in the UK! That's because Koinly is both excellent at working out crypto taxes and incredibly easy to use. For Kraken, Koinly offers 2 fast integration methods:
️API: Generate API keys in Kraken and add them to Koinly to automatically import your transaction data.
️CSV File Upload: Download your Kraken transactions as a CSV and upload them to Koinly instantly.
API
Simply generate your read-only API key in Kraken and add your key and API secret to Koinly. Koinly only ever has read-only access to your transaction data, so you don't need to worry about there being any access to your funds. Once you've added your API key, Koinly automatically imports your transaction data from Kraken and calculates your gains, losses, income, and more.
CSV file upload
If you prefer not to use API keys, then the CSV upload is what you need. Simply download your Kraken CSV file and upload it to Koinly. It's straightforward and puts you in control.
Learn more about how to connect Kraken to Koinly.
Take the stress out of tax time
Kraken and Koinly's partnership is a big step forward in making crypto taxes less hassle for UK investors. It's not just about making tax season less stressful; it's about making crypto finance easier to manage for everyone.
