Cryptoasset capital gains reporting

1) When providing crypto capital gains computations for individual's self assessment, do the crypto valuations need to be pre-approved (Thinking of crypto to crypto transactions where the cryptos have no direct GBP pairing so the value of each needs to be derived)? 2) Is it enough to use reasonable and fair valuations in the computations that HMRC can later request more details on later? 3) Do the valuations need to be attached with the accompanying calculations as an appendix? Or can these be left off for HMRC to request if needed as to not overwhelm HMRC with too much information

Hi,

Valuations of cryptocurrencies are subject to the same rules as any other capital asset. We do not value assets ahead of time and individuals should use a just and reasonable method when making a valuation. Records should be kept of their methodology.  

Have a look at CRYPTO2000 onwards for more information.

CRYPTO20000 - Cryptoassets for individuals

Thank you.