What proof is needed when filing BTC CGT in the UK?

What proof is needed when filing BTC CGT in the UK?

So I’d like to know if HMRC are going to want any proof of buys and sells for when I start to crystallise / live off my gains (hopefully!) in a decade or two 🙂

Specifically what records should I be keeping on my trades that I’m making today?

Is a spreadsheet good enough? Will they need bank statements to back it up? All I have from the exchange is a CSV file of date, price, fees etc anyway. Can’t seem to find much on this question on the internet.

It looks like the form to use today is called Capital gains summary SA108 2020.

Any other Brits been through this already? How did it go?

**Edit: I found some answers to my questions** 🙂

I found the following info from here:

https://www.gov.uk/government/publications/tax-on-cryptoassets/cryptoassets-for-individuals

Record keeping

Cryptoasset exchanges may only keep records of transactions for a short period, or the exchange may no longer be in existence when an individual completes a tax return.

The onus is therefore on the individual to keep separate records for each cryptoasset transaction, and these must include:

the type of cryptoasset
date of the transaction
if they were bought or sold
number of units
value of the transaction in pound sterling
cumulative total of the investment units held
bank statements and wallet addresses, if needed for an enquiry or review

Lots of other interesting info on that page.

One question that I still have is:

How many trades does it take before they treat you like a trader (and charge income tax instead of CGT)?

I wrote a script that’s doing some extremely fine grained “dollar” cost averaging via an API provided by my exchange – I’m generating thousands of trades a year like this.

Does the HMRC have a threshold?



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