UK Accountants and Tax Advisers for Bitcoin, Crypto and NFTs

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Nobody likes paying tax, but the fact is we all have to – whether it be tax on our salary through Income Tax or tax on an asset when you sell it for a profit, known as Capital Gains Tax.

The same applies to crypto – if you own, trade, stake or mine cryptocurrency such Bitcoin (BTC) and Ethereum (ETH) and other digital assets, including NFTs, meme coins like Doge, or stablecoins, at some point you’ll need to consider your tax position.

This is especially true as HMRC is taking a much closer look at the whole digital asset market and now sends out letters to those who in the UK it believes may have a crypto tax liability.

Fortunately, there are hundreds of UK tax professionals, advisers, accountants, and firms set up specifically with Bitcoin and crypto taxes in mind. It’s a shame the same can’t be said for financial advisers yet.

I’ve decided to list some of the best crypto tax accountants in the UK, as well as providing ratings and reviews over time. Don’t forget that there are DIY tax software options as well if you feel confident handling your own affairs.

Taxable events where you might need the help of a crypto accountant or tax adviser include:

• Buying and selling crypto, NFTs, meme coins or stablecoins, either occasionally or regular trading
• Earning crypto through your employer as a salary, or being paid in crypto as a freelancer
• Staking cryptocurrencies on exchanges such as Binance to earn interest
• Mining cryptocurrency, either using your own equipment, a platform or a mining pool
• Selling your cryptoassets and making a profit that takes you over your tax free annual Capital Gains Tax allowance
• Earning money by using your cryptocurrency on decentralised finance (DeFi) platforms
• Using decentralised exchanges (DEXs) to earn money on your crypto through liquidity farming
• Depositing your crypto on interest earning platforms such as Nexo

There are many taxable events involving crypto that could give rise to a liability and they need to be examined holistically alongside your other income and portfolio by a professional tax adviser to determine what you need to pay.

Best and cheapest crypto accountant and tax advisers in the UK

I’ll be regularly updating you on the cheapest and best value UK cryptocurrency accountants and tax advisers, so you make an informed decision when it comes to your crypto taxes. Don’t forget, you can go it alone by using a dedicated crypto accounts app.

As I’ve mentioned, HMRC is taking a much closer look at people’s crypto affairs in the UK and has secured agreements on reporting from many of the big cryptocurrency exchanges, such as Coinbase.

There are also much stricter procedures in place if people wish to buy and sell crypto in the UK, with stringent AML/KYC stages involved when signing up to trade digital assets. There are decentralised exchanges that don’t require this information, but they are becoming harder to find.

Using a crypto tax accountant could help you save money in the long run as there are various legitimate and legal strategies that can be used to reduce your tax liability, such as using some of the annual allowances which people are often unaware of, and taking advantage of the current ‘bed and breakfast’ regulations.

Even simple things such as transferring some of your crypto assets to your spouse or civil partner before selling them can help you reduce your Capital Gains Tax liability when it comes to crystalising your profits.

Crypto accountants and tax professionals near me

There are plenty of accountants who now look after people’s cryptocurrency affairs so it’s likely there’s one near where you live.

Do your research to ensure they’ve got a track record in dealing with cryptoassets as it’s a specialist area which is relatively new and a lot of people are still getting to grips with the rules, which are constantly evolving.

Also, check if they use a dedicated crypto software package to ensure they comply with the law. This might not be completely necessary, but if they are it demonstrates their commitment to providing the best service.

Useful links:

• Do I have to pay Inheritance Tax (IHT) on my crypto?
• How to avoid Inheritance Tax on my crypto
• Do I have to pay Capital Gains Tax (CGT) on my crypto?
• How to avoid Capital Gains Tax on my crypto?
• Is my crypto covered by the Financial Services Compensation Scheme?
• Can I crystalise my crypto profits using my CGT allowance?
• What is staking crypto and how is it taxed?