HolderTax / United Kingdom
Jurisdiction · Schedule H–UK · tax year 2026/27
United Kingdom
HMRC does not regard cryptoassets as money. They are chargeable assets, pooled per token like shares — which makes the UK the mirror image of the US: no lot-by-lot clocks, no long-term rate, and a 30-day rule that quietly rewrites the loss you thought you harvested.
Self Assessment deadline31 January 2027 (online, for 2025/26)
Answer first
What HolderTax can say from the current evidence
Pre-publicationThese claims are still awaiting licensed human approval. Use the evidence bundle below to inspect the authority and review state.
Action-sensitive pageA deadline, disclosure route, examination or other consequential step is involved. Use the instructions on the authority document you actually received and do not treat this summary as advice.
Cryptoasset treatmentChargeable asset; disposals can fall within CGTHMRC Cryptoassets Manual — Capital Gains Tax
Section 104 poolingOne pool per token type where tokens are fungibleHMRC CRYPTO22200
Same-day and 30-day matchingSame day, then acquisitions within 30 days, then section 104 poolHMRC CRYPTO22200
CGT rates18% / 24% for individuals in 2026/27 depending on taxable incomeGOV.UK — Capital Gains Tax rates and allowances
Current position
The schedule.
Status marks: — settled in practice, ! watch (moving or commonly misapplied), ? unresolved. All lines are a working draft pending licensed review.
Schedule H · Part INature, matching, rates, income events, reporting and deadlines
FORM H–UK / 2026-27
STATUS: WORKING REVIEW| Line | Position | Current treatment | What it means | Status |
|---|---|---|---|---|
| 01 | Nature of the asset | Chargeable asset · not currency | Disposals are CGT events; moving between your own wallets is not a disposal. | — |
| 02 | Capital vs trading | Investor by default | Only exceptional, business-like activity is trading. The badges-of-trade test decides — and most holders fail it, which is usually good news. | ! |
| 03 | Cost basis · section 104 pool | One pool per token · average cost | The opposite of US lot tracking. Every acquisition of a token merges into a single averaged pool. | — |
| 04 | Matching · same-day & 30-day | Same day, then 30 days, then pool | Sell and rebuy within 30 days and the disposal is matched to the repurchase — the loss you planned may not exist. | ! |
| 05 | CGT rates | 18% / 24% · stacked on income | Unified for all assets since 30 Oct 2024. The gain sits on top of your income; the band decides the rate. | — |
| 06 | Annual exempt amount | £3,000 | Use it or lose it — it does not carry forward, and it has fallen from £12,300 in three years. | — |
| 07 | Proceeds reporting threshold | £50,000 gross proceeds | Disposals can be reportable even with no tax to pay. High-volume swapping crosses this line fast. | ! |
| 08 | Token-for-token swap | Disposal | Stablecoin legs included. Every swap is a disposal at sterling value — and sterling valuations are your job. | — |
| 09 | Staking & mining rewards | Miscellaneous income at receipt | Sterling value on the day received; that value becomes the pool cost. Business-scale activity becomes trading income instead. | ! |
| 10 | DeFi lending & liquidity | Entering can itself be a disposal | Where beneficial ownership passes, the deposit is a CGT event. A reform was consulted on; it is not law. | ? |
| 11 | Losses | Offset · claim within 4 years | An unclaimed loss expires. Negligible-value claims exist for tokens that died in your wallet. | ! |
| 12 | Exchange data · CARF | Collection live since 1 Jan 2026 | Providers report calendar-2026 activity by 31 May 2027 — including UK users of UK platforms. | ! |
| 13 | Filing | Self Assessment · SA108 cryptoasset section | Capital gains have dedicated cryptoasset boxes; income goes on the main return. Online deadline 31 January. | — |
| 14 | Records | Keep ≥5 years after the filing deadline | Per-transaction sterling values, fees, pool workings. HMRC asks for workings, not vibes. | — |
Working draft · all 14 lines pending licensed review · sign-off dates will appear per lineStart with lines 03–04 →
Nudge letterOne-to-many cryptoasset letterHMRC holds data suggesting undeclared gains. A new wave is running July 2026 – March 2027.Use letter deadline
App / SMS promptDigital nudge via the HMRC app or textThe same campaign in a different envelope. Treat it as the letter.Use letter deadline
Compliance checkA formal enquiry has openedThe voluntary phase is over; information powers now apply. Representation first.Formal enquiry
No letter yetUnprompted — the cheapest momentThe disclosure service before HMRC writes is the lowest-penalty version of this event.Voluntary
Published pages · United Kingdom
Read in the order trouble arrives.
Letter
The HMRC nudge letter
What the one-to-many letter means, how to use the deadline printed on it, and why “voluntary” needs reading twice.
→ RulePooling, same-day and the 30-day rule
The UK's most misapplied mechanic. One pool per token — and the rule that rewrites harvested losses.
→ DecisionDisclosing prior years
The cryptoasset disclosure service, the behaviour question, and why 4, 6 and 20 are the numbers that matter.
→ AnalysisThe 2027 data wave
CARF collection is already running. What providers report in May 2027, and what that does to the letters.
→Evidence bundle
Canonical claims used on this page
Claim IDs are the publication contract. A translation or article may explain a claim, but cannot silently change its source, status or review lifecycle.
uk.asset_treatmentCryptoasset treatmentChargeable asset; disposals can fall within CGTuk.poolingSection 104 poolingOne pool per token type where tokens are fungibleuk.matching_30_daySame-day and 30-day matchingSame day, then acquisitions within 30 days, then section 104 pooluk.cgt_ratesCGT rates18% / 24% for individuals in 2026/27 depending on taxable incomeuk.annual_exemptionAnnual exempt amount£3,000 for individuals in 2026/27uk.swap_disposalCrypto-to-crypto exchangeDisposal of the token given up; affects both poolsuk.staking_incomeStaking/mining/lending incomeGenerally other taxable income when not a tradeuk.carf_startCARF commencementUK CARF due diligence and reporting obligations commence 1 January 2026uk.carf_first_reportCARF first provider report2026 data due to HMRC by 31 May 2027; international exchange by 30 September 2027uk.nudge_statusOne-to-many communicationHMRC one-to-many communication is not itself a compliance check; requests for information must make clear when provision is voluntaryuk.assessment_time_limitsAssessment time limitsGenerally 4 years; 6 years for careless loss; 12 years for offshore matters; 20 years for deliberate loss, subject to statutory conditions