Skip to content
DA

New here? Start with these

Also useful

Tax & HMRC

How to check a crypto tax software report for HMRC

Quick answer: Before filing, check UK tax settings, complete acquisition history, wallet-transfer matches, sterling valuations and token classifications. Reconcile balances and investigate missing costs. Then trace the final gains and income figures into the appropriate return sections. You remain responsible for the figures you submit.

A software report is the start of a review, not proof that your tax return is correct. Use this checklist after importing your exchange and wallet history.

Published by Digital Assets Team 2 min read Text version
Not financial advice. This guide is general information only, fact-checked against UK government sources. It is not a personal recommendation. Cryptoassets are high-risk. You may lose all the money you invest.

1. Check the settings and the opening position

Select the correct UK tax year and verify that same-day and 30-day matching take priority over Section 104 pooling. Import older acquisitions needed to establish opening balances and costs. An account created this year may contain tokens bought years earlier.

2. Reconcile every exchange and wallet

Compare closing balances with the exchange or chain. Investigate duplicate imports, missing transactions and negative balances. Match transfers between your own wallets before treating them as disposals. Keep transaction identifiers and both sides of each transfer.

Visual guide

Turn transaction history into evidence

Keep the original files beside your working copy

Turn transaction history into evidence. A text description follows the illustration.

A reproducible record connects the original transaction to the calculation. Keep a dated explanation of adjustments rather than silently changing the raw export.

Read the diagram as text
  1. 01. Collect. Export every exchange and wallet, including older purchases.
  2. 02. Reconcile. Pair transfers and investigate duplicates or missing entries.
  3. 03. Explain. Record prices, classifications and manual adjustments.
  4. 04. Preserve. Keep the calculation, source files and submission evidence.

Source: HMRC cryptoasset record keeping

3. Review prices, fees and DeFi classifications

Spot-check large GBP valuations against contemporaneous evidence. Review swaps, rewards, bridge transactions and liquidity-pool entries individually. A software label cannot establish beneficial ownership or decide whether a return is income or capital. Document the reason for each override.

4. Trace the report into your return

Separate capital gains from income. Check allowance use and losses across relevant assets, not just the report from one wallet. Complete the appropriate cryptoasset and income sections and provide calculations where required by the return instructions. Retain the report, raw exports and adjustment log.

Sources: HMRC: reporting cryptoasset disposals · HMRC: keeping crypto records

5. Resolve exceptions before relying on the totals

For significant unresolved values or complex arrangements, get advice on the facts and keep a list of open issues. Do not submit invented costs or silently delete unknown transactions. If comparing products before importing, use the separate software comparison.

Frequently asked questions

Is a software report an HMRC approval? +

No. A report helps organise calculations. You remain responsible for accurate figures, the applicable rules and the supporting records.

Why does a report show zero cost? +

It may be missing an acquisition or transfer. Trace the history and document the evidence before deciding the allowable cost.