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Posted Thu, 20 Jun 2024 18:16:06 GMT by Oliver Scott
Hi, I'm a British national and I've bought some cryptocurrency. I want to send this to a friend's wallet abroad. I'm aware I need to pay CGT on any gains I've had on it at the point of sending. How do I record the info on current prices at point of sending - just note down prices according to a typical crypto coin exchange (they might slightly differ) on a spreadsheet? Is there anything else I should keep a record of for HMRC purposes? Or anything I need to do before or afterwards? Most of these things would be able to be checked in retrospect I'm sure but just wanting to know how to do this properly. Many thanks
Posted Wed, 26 Jun 2024 10:38:50 GMT by HMRC Admin 5 Response
Hi 

Please refer to Report and pay your Capital Gains Tax

Thank you
Posted Mon, 01 Jul 2024 12:50:30 GMT by bluesiege
Sending your crypto to your friend is a disposal. It is treated as if you have sold the crypto at market value. This guide spells it out https://recap.io/guides/crypto-tax-uk-a-comprehensive-guide check out the gifting section.

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