HMRC self-assessment changes for 2024/25: Warning for cryptoasset investors

Please see our June newsletter

Our June 2024 newsletter for personal tax clients covers changes to the self-assessment tax return signal HMRC's intention to go after those buying and selling cryptoassets. What's the full story?

HMRC has already set out its design for self assessment tax returns for 2024/25. The return will include dedicated questions in the capital gains pages (Form SA108) for purchases and sales of cryptoassets such as Bitcoin and Ethereum.

Tax returns for 2024/25 will contain special questions relating to capital gains or losses resulting from transactions in cryptoassets, e.g. Bitcoin. Therefore, you should keep up-to-date records of any such transactions; date, value in sterling and dealing costs.