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Crypto Cost

Answer
Aaron
Posted Tue, 07 May 2024 10:44:45 GMT by Aaron
Hello, I deposited £50 Gbp into an crypto exchange and then purchased USDC which was worth less @ £49.83 gbp I then converted the USDC to bitcoin when I dispose of the bitcoin which cost do I use to work out any loss/gain for self assessment/capital gains tax do I use the £50 or the £49.83 cost?
HMRC Admin 8 Response
Posted Mon, 13 May 2024 11:05:41 GMT by HMRC Admin 8 Response
Hi,
The £50.
Thank you.

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