How much tax will I pay on crypto gains? (UK)
In the UK you pay Capital Gains Tax on crypto profits above the £3,000 annual exempt amount. The rate is 18% on gains that fit within your unused basic-rate band and 24% on the rest — so your income sets your rate. Example: a basic-rate earner with a £10,000 crypto gain pays tax on £7,000 of it, typically at 18% (£1,260); a higher-rate earner pays 24% (£1,680). Gains are calculated using HMRC's matching rules (same-day, 30-day, Section 104 pooling), which is what our free calculator applies.
The three numbers that set your bill
- £3,000 — the annual exempt amount: your first £3,000 of net gains each tax year is tax-free
- 18% — the rate on gains that fit inside your unused basic-rate band (income under £50,270 leaves some band free)
- 24% — the rate on gains above that, and on everything if you're already a higher-rate taxpayer
Worked example
Say you earn £35,000 and made £12,000 of net crypto gains in 2025/26. The first £3,000 is exempt, leaving £9,000 taxable. Your income leaves £15,270 of basic-rate band unused (£50,270 − £35,000), which covers the whole £9,000 — so it's all taxed at 18%: £1,620.
Same gain on a £60,000 salary: no basic-rate band left, so £9,000 × 24% = £2,160. The gain is identical; the income changes the bill by £540.
What counts as a gain in the first place
The taxable gain isn't your withdrawal to the bank — it's proceeds minus allowable cost for every disposal: selling for pounds, swapping one token for another, spending crypto, or gifting it (except to a spouse). The cost side is set by HMRC's matching rules — same-day first, then the 30-day bed-and-breakfast rule, then the Section 104 average-cost pool — which is why two people with identical trades in a different order can owe different tax.
Losses reduce the bill: current-year losses offset gains automatically, and earlier years' losses can be carried forward if you've claimed them within four years.
The 2024/25 wrinkle
If you're calculating for 2024/25, rates changed mid-year: disposals before 30 October 2024 were taxed at 10%/20%, and from that date at 18%/24%. The date of each disposal decides its rate — our calculator handles the split automatically.
Run your own numbers — free
Our calculator applies these rules to your transactions and shows the full working for every disposal — same-day, 30-day and Section 104 matching, per tax year.
Open the calculator →Frequently asked questions
Do I pay tax if I don't cash out to my bank?
Potentially yes. Crypto-to-crypto swaps, spending crypto and gifting it (other than to a spouse) are all disposals. Cashing out is not the taxable moment — disposing is.
Is any of it taxed as income instead?
Staking rewards, most mining and some airdrops are taxed as income at their value when received — separate from, and in addition to, CGT when you later dispose of them.
How do I work out my exact number?
Enter your transactions (or import a CSV) into our free calculator — it applies the matching rules, splits your gain across the 18%/24% bands from your income, and shows the working per disposal.
Sources & methodology
- GOV.UK: Capital Gains Tax rates
- GOV.UK: Capital Gains Tax allowances (annual exempt amount)
- GOV.UK: Check if you need to pay tax when you sell cryptoassets
Tool v0.2.0 · sources last checked 6 July 2026. This guide is general information, not tax or financial advice — verify your position with a qualified professional before filing.