If you trade in shares, crypto, etc, and you’re considering selling a few things, you may want to ensure that most fall in the 2022/2023 tax year because, as you may or may not know, the capital gains tax annual exempt amount drops from £12,300 to £6,000 effective April 2023. In 2024, it’s £3,000!
When you dispose of cryptoassets (the term HMRC prefers) such as bitcoin, you may need to pay capital gains tax if your gains take you above the annual exempt amount, currently £12,300. The tax year runs from 06 April to 05 April of the following year. WHAT IS A DISPOSAL? Selling your tokens Exchanging your … Continue reading