UK Crypto Tax Basics (Capital Gains Overview)

What you’ll learn

• •Most individual crypto activity in the UK is typically subject to Capital Gains Tax (CGT), not Income Tax.
• •'Disposal' is broad: it includes selling for GBP, crypto-to-crypto swaps, spending crypto, and most gifting.
• •Crypto-to-crypto swaps count as a disposal even though nothing is converted back to GBP.
• •An annual tax-free CGT allowance exists, but the figure changes over time — always check HMRC's current figure.
• •Some activities (certain staking rewards, mining as a trade, being paid in crypto for work) can be taxed as Income Tax instead, depending on the facts.
• •Keep clear records of every transaction's date, amount, GBP value, and purpose — this is general orientation, not personalised tax advice.