On this page
CGT allowance
£12,300
Annual exempt amount for individual capital gains.
CGT rates
10% / 20%
Crypto and other non-property chargeable gains.
Misc income allowance
£1,000
Trading and miscellaneous income allowance for relevant crypto income.
Proceeds reporting
£49,200
Self Assessment reporting threshold for disposal proceeds.
Capital Gains Tax on Crypto
Annual exempt amount
£12,300
The tax-free Capital Gains Tax allowance for individuals.
Disposal proceeds reporting threshold
£49,200
If you are in Self Assessment, crypto disposals may need reporting even where no tax is due.
Basic-rate CGT
10%
Applies to taxable gains falling within the unused basic rate band.
Higher/additional-rate CGT
20%
Applies to taxable gains above the basic rate band.
| Item | Rate or amount | How it applies |
|---|---|---|
| Annual exempt amount | £12,300 | Deducted from net taxable capital gains after allowable losses. |
| Basic rate band for gains | £37,700 | Taxable income plus taxable gains use this band after allowances. |
| CGT within unused basic band | 10% | For crypto and other non-property gains. |
| CGT above basic band | 20% | For crypto and other non-property gains. |
- Crypto gains use the non-residential Capital Gains Tax rates for other chargeable assets.
- The disposal proceeds reporting threshold was four times the annual exempt amount before 2023/24.
- The annual exempt amount can be used against gains charged at the highest rates first.
Income Tax Bands
These bands are relevant because crypto income is taxed as income, and your taxable income also determines how much of your basic rate band remains available for capital gains.
| Band | Taxable income | Rate |
|---|---|---|
| Personal Allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £150,000 | 40% |
| Additional rate | Over £150,000 | 45% |
Income Tax bands differ for Scottish taxpayers. Personal Allowance is tapered once adjusted net income exceeds £100,000 and is usually fully removed by £125,140.
Crypto Income Allowance
Trading and miscellaneous income allowance: £1,000
HMRC says tokens received from mining, staking, lending, or DeFi can count as income. Where the activity is not a trade, this can be miscellaneous income and can count towards the trading and miscellaneous income allowance.
- If total miscellaneous income is between £1,000 and £2,500, HMRC says to contact them.
- If total miscellaneous income is over £2,500, HMRC says to register for Self Assessment.
- Employment income paid in crypto is different and can also involve National Insurance.
Key Deadlines
Notify HMRC by
5 October 2023
Where you need to register for Self Assessment.
File and pay online by
31 January 2024
Main Self Assessment online deadline.
Claim capital losses by
5 April 2027
Four years after the end of the tax year.
Sources
Reviewed 2026-05-29. These pages summarise published HMRC and GOV.UK guidance; they are not personalised tax advice.
- GOV.UK Capital Gains Tax rates and allowance
- HMRC Capital Gains Tax rates and allowances
- GOV.UK Capital Gains Tax rates and allowances publication
- GOV.UK Income Tax rates and Personal Allowances
- GOV.UK Income Tax rates and Personal Allowances - previous tax years
- GOV.UK work out if you need to pay Capital Gains Tax
- GOV.UK check if you need to pay tax when you receive cryptoassets