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We pool cryptoassets when we group them according to what they are. To determine the cost of a particular cryptoasset, we use average cost, exactly as we do for shares when we buy at different times and at different prices. We use average cost to work out taxable gains BUT please note the exceptions below … Continue reading
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
Phoenix Debola 