UK Crypto Tax Guide (2020) The tax collecting body of the UK, HMRC ( Her Majesty's Revenue and Customs ), has started to more aggressively enforce its crypto tax policies. 7 Best Crypto Tax Software Calculators. However, for advanced, sophisticated crypto traders looking for a robust tracking platform, CoinTracking may be the best bet. 6 months later she bought 0.5 BTC for £2,000. Even though their primary market is the US, they also support clients from 18 countries including the UK. There you go! 1. I have less than 1000 annual transactions and will incur capital gains. Koinly is a cryptocurrency tax calculator that can easily import your crypto transactions and calculate your capital gains in accordance with the HMRC and Share Pooling rules. As cryptocurrencies like bitcoin have grown in popularity over the years, so has the amount of people who are making money by investing or trading them. However, buying crypto itself is not taxable in the UK. Can you please help me find the best software for US crypto tax preparation? Bear.Tax. Reporting Your Crypto Capital Gains. Here’s a guide on the top ten tax-friendly exchange sites in the UK that you can use to enjoy a hassle-free journey into the world of cryptocurrency. Been doing research for a few days now. Bear.tax also has one of the cheapest prices for crypto tax software, starting at $10 per annum and maxing out at $200 per annum for unlimited crypto transactions. Bear.tax also provides a simplified view of when you bought, sold, or traded your tokens with the corresponding tax liabilities. What triggers a taxable event is when you swap or ‘dispose’ of it for another asset or fiat. Bear.Tax offers users a quick & easy tax filing and computing software that’s designed for the US market, yet is usable in other countries as well. They are the first crypto tax software, whether by API or spreadsheet/CSV import. Crypto.com serves over 10 million customers today, with the world’s fastest growing crypto app, along with the Crypto.com Visa Card — the world’s most widely available crypto card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Integrations & … Results from Google mostly seem to be paid articles and unreliable. TokenTax. You have no excuse not to report gains or losses on your crypto holdings. Some of the cryptocurrency tools even offer a limited free plan. Crypto.com is the best place to buy, sell, and pay with crypto. 1. Also if the software has API for direct access to exchanges, it would be ideal. Accointing's tax software is one of the best crypto tax software suites we've seen If, however, you’re a power-user who deals with thousands of transactions every year, then it’s best to invest in a proper service that synchronizes all your accounts into one dashboard, like CoinTracking or the upgraded tiers of some of the services below. When doing your research on which software to use specifically aim for UK support. Since there are many choices, below is a list of items you should look at when choosing a crypto tax software tool for 2020 tax season. Finally, TokenTax is a software best suited for those in need of a pure cryptocurrency tax platform. The platform was designed to ensure compatibility with traders, accountants, fund managers, and other forms of cryptocurrency investors. It is the leading crypto tax platform and cryptocurrency tax accounting company. EXAMPLE. The platform specializes in all kinds of taxes. My Crypto Tax, London based regulated professional accountancy firm exclusively focus on providing tax compliance, reporting and tax planning services for the cryptocurrency community in United Kingdom. Natalie bought 1 BTC for £1,000. 7 best crypto tax softwares to help you track, calculate and report taxes as well as save maximum taxes on crypto! When tax time rolls around and you need to report your gains and losses, you can use the Capital Gains Tax Service from HMRC in real-time, or report annually in a Self-Assessment tax return.