Self Assessment payments are due by midnight on the 31st of January 2019
This will be relevant to any gains made in the big bull run at the end of 2017. If you still haven’t filed with and paid HMRC, here’s how to get it done:
Make sure you know what you owe
Are you sure there aren’t any taxable events that you’ve missed?
Crypto-to-crypto trades, gifts, and even buying things with crypto are all potentially taxable events. If you need a quick primer on how to deal with all things crypto tax as an investor, trader or miner in the UK, we have designed a course to systematically take you from the basics to a full understanding of your tax situation.
If you are already proficient in filing for Self Assessment and really just need more niche advice - eg. how to deal with particular coins, masternodes or very specific residency issues, consult a tax advisor directly.
Our Telegram group with Adrian Markey is also a goldmine of information.
2. Compute your gains and taxes
TokenTax is an awarding-winning crypto tax platform which has been featured on the likes of Coindesk and Forbes. Quite rightly, you can count some of the leading crypto personalities among its proponents. We’re happy to confirm that they’ve made a significant investment in their UK capabilities, so if you’re still looking to generate your returns, do give it a go. From our perspective, their focus on beautiful and simple design combined with an amazingly responsive team makes for a great product.
TokenTax have generously given our readers a special offer for 10% off - use the code BLOCKTAX10.
For any last minute questions on UK taxes and how to file them, TokenTax are hosting free webinars at the following times:
Thursday the 24th of January, 7pm
Tuesday the 29th of January, 7pm
3. Get professional advice
We always recommend getting someone to look over your returns, even if you DIY. Contact us if you are in need of accountancy help - professionals can also help you get insurance. If you are in need of tax advice, do contact our partner Anthony Rogers of Fusion Partners.
If you’re feeling stressed about your taxes, don’t worry. Follow the steps above. If you can’t get a professional look-over in time and would like one, you can file using estimated figures, following which you will have one year to update with confirmed calculations.