Topic hub
Explore community questions and practical answers about crypto regulation.
With Form 1099-DA fully starting for 2026 transactions (including cost basis reporting by brokers), how should individual taxpayers prepare? Will exchanges accurately report cost basis for transferred assets, and what should I do if their numbers don't match my own records? Any tips for avoiding penalties?
With CARF now live (Jan 2026), HMRC will soon get detailed reports from exchanges starting for 2026 activity, and potentially more scrutiny on past years. I realised I underreported some gains from 2023-2024 (mostly spot trading). Is now a good time to use HMRC's disclosure facility to come clean voluntarily and reduce penalties? What's the process like, rough penalty range for unprompted disclosure, and has anyone done this recently for crypto? Don't want to wait for a nudge letter! Thanks for sharing experiences.
Long story short: I have an old hardware wallet from 2018-2019 with some BTC and ETH that I can't access anymore (seed phrase lost, device bricked). The coins are still sitting there, worth a decent amount now. For UK tax purposes, is permanent loss of access treated as a disposal allowing me to claim a capital loss (at current FMV)? Or is it only when the keys are truly irrecoverable and I have evidence? I've searched HMRC guidance but it's vague on "lost private keys." Has anyone successfully claimed this before, and what proof did HMRC accept? Thanks for any experiences!
Hi all, I'm UK-based but hold and trade crypto on US platforms (e.g., Coinbase). For transactions in 2025, brokers are now issuing the new Form 1099-DA reporting gross proceeds (and eventually cost basis in future years). Has anyone received or seen sample 1099-DAs yet? How does this interact with HMRC reporting – will the data get shared automatically, or do I need to manually align my UK capital gains calc with whatever the US form says? Worried about mismatches causing issues. Any advice on reconciling the two? Appreciate it!
Happy New Year everyone! With the Crypto asset Reporting Framework (CARF) kicking in from 1 January 2026, UK-based (or UK-serving) exchanges are now collecting and reporting user data to HMRC. Can anyone clarify exactly what gets reported? Is it just personal info (name, address, NI number) plus transaction history, or also wallet addresses, balances, and every transfer (even to personal wallets)? I'm a UK resident using a mix of UK and international platforms – do foreign exchanges have to comply if they have UK users? Trying to make sure my records are spot-on before any data gets shared. Thanks!
I've been providing liquidity on Uniswap and lending stablecoins on Aave throughout 2025. I know HMRC used to treat every token movement in/out of pools as a disposal, but there was talk of potential changes or "no gain/no loss" treatment for certain DeFi deposits. Has anything been clarified or updated going into the 2025/26 tax year? I'm trying to figure out if interest/yield is still miscellaneous income and whether impermanent loss can offset gains. Appreciate any recent experiences or links to official guidance!