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Posted Thu, 27 Apr 2023 10:21:42 GMT by Clare
Hi, as a freelancer I received most of my income in crypto. As such I need to purchase crypto tax software such as Koinly to do my accounting. I solely use it for tax/book-keeping in relation to my income & self-assessment Would this be an allowable business expense, and if so would it go in box 28? Thank you
Posted Wed, 03 May 2023 08:16:11 GMT by Clare
No one has any information on this?
Posted Thu, 04 May 2023 12:19:09 GMT by HMRC Admin 25
Hi Clare,

Have a look at this link: 

Expenses if you're self-employed
It advises the stationery expenses includes "computer software if your business makes regular payments to renew the licence (even if you use it for more than 2 years)" 

BIM35805 also covers computer software.

BIM35805 - Capital/revenue divide: computer software: Tax Bulletin article

Thank you. 
Posted Sat, 06 May 2023 11:14:10 GMT by Clare
Got it, thanks. I just realised I bought it after April 5th 2023 (I didn't really need it before then). Would that mean I can only claim it for 2023/24?
Posted Thu, 11 May 2023 15:45:41 GMT by HMRC Admin 25
Hi Clare,
Yes, UK tax is charged on the arising basis.
As you purchased the software in 2023 to 2024, you can only claim the expense in that year, as that is when the expense arises.
You can still use the software for previous tax years, just not claim the expense in a previous tax year.
Thank you. 
Posted Tue, 16 May 2023 11:29:54 GMT by Clare
Thank you for your help

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