Don't get stung! Let Koinly calculate your crypto taxes & reduce your HMRC tax bill. Simple & Reliable.
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One-click HMRC tax form generation
✅ Traded on lots of exchanges? ✅ coins spread across multiple wallets? ✅ no record of anything? We've been there too and that's why we built Koinly!
No more wasting hours downloading CSV files, formatting data, figuring out market prices, getting the tax calculations right etc.
With Koinly you can import your ETH, BTC, Tezos and other transactions directly from the ledger, sync all your exchange trading history in one-click and get a ready-to-file tax report -- all in a matter of minutes!
Add your exchange accounts via API or CSV files and connect your blockchain wallets using public addresses.
Get a glimpse of your profit/loss for any tax year - for free!
Whether you're filing your crypto totals yourself, using a tax software, or working with an accountant, Koinly can generate the crypto tax reports you need.
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"Team is very supportive, helped me import my Bibox transactions and guided me all the way. I have invited some of my friends to Koinly too and they are thanking me :D"
Crypto is taxed in the same way as Gold and real estate. When you sell or trade crypto you have to pay tax on the difference between the selling price and the price you bought it for (minus any exchange fees). This is known as a Capital Gains Tax and has to be paid in most countries such as the USA, UK, Canada etc.
Yes. It doesn't matter if you only made losses, you still have to report it to your tax agency. In fact, it is in your best interests to report your losses as this is one of the best ways to reduce your crypto taxes in the future!
Yes. Any exchange of cryptocurrencies is also a taxable event. For ex. if you exchange Bitcoin for Ripple, the IRS and other tax agencies will treat this as a sale of Bitcoin at the market price of the XRP you received.
The same way as regular income. For ex. if you receive 10 BCH as a result of the Bitcoin Cash fork then you will need to declare this as additional income, using the fair market value of the BCH at the time you received it.
It's actually very difficult to avoid crypto taxes. Every time you transfer funds to an exchange you are leaving a papertrail that tax agencies can catch on to. In the past, exchanges like Coinbase and eToro have handed over data on thousands of users to tax authorities.
No, you don't. As long as you own both wallets there's no tax to pay on transfers. However, you still have to keep track of the original cost of the transferred coins and have sufficient proof of it.
Koinly automatically imports your transactions, finds all the market prices at the time of your trades, matches transfers between your own wallets, calculates your crypto gains/losses and generates your tax reports!