Cryptoassets: How are they taxed?

1 min read

Cryptocurrencies continue to become more mainstream, and the taxman’s very aware of the gains investors have made in the last five or six years.

Back in 2009, investors could snap up one Bitcoin for $1. Fast forward to January 2022 and it would cost $47,000 (£34,700) per Bitcoin – down from a November 2021 peak of more than $60,000 (£44,400).

There are other high-risk, speculative, volatile cryptocurrencies out there, too, and these continue to ensure speculative fortunes are being made and lost.

Bitcoin is by far the most well-known cryptocurrency. However, there are more than 1,000 others in existence, such as Ethereum, Ripple, Dogecoin, and Litecoin.

Like many high-risk investments, these go through boom and bust cycles and, depending on when you buy (or acquire) them, they can make you either a millionaire or bankrupt you.

Cryptocurrencies don’t just pique investors’ interests; HMRC is taking a growing interest in their use and, of course, is keen for people to be reporting any gains.

In 2014, it issued basic guidance before replacing it with a comprehensive policy paper six years’ later that helps us all better understand HMRC’s stance.

Read more on Cryptoassets and how they are taxed in 2022 here:

You might be interested in...

  1. Government grants to help Cambridgeshire farmers boost drought resilience

    19 Aug 2026

    Government grants to help Cambridgeshire farmers boost drought resilience

    Agriculture and horticulture businesses are under pressure to invest in water efficiency and sustainability. Cambridgeshire growers and food producers can now apply for grants up to £50,000. Here’s what you need to know.

    Learn more

    Government grants to help Cambridgeshire farmers boost drought resilience
  3. Does your UK subsidiary require a statutory audit?

    14 Aug 2026

    Does your UK subsidiary require a statutory audit?

    Does your UK subsidiary need a statutory audit? Learn how group size, audit exemptions and worldwide group rules affect UK audit requirements.

    Learn more

    Does your UK subsidiary require a statutory audit?
  4. Should audit-exempt companies still have an audit?

    13 Aug 2026

    Should audit-exempt companies still have an audit?

    Audit exemption may reduce compliance obligations, but is stopping your audit the right decision? Explore the value independent assurance can bring.

    Learn more

    Should audit-exempt companies still have an audit?