Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 18 May 2024 08:00:27 GMT by Adam Smith
I live with my mum and live off my savings from a Share ISA account and Cash ISA account. I have some crypto currency and I am well within my CGT allowance. I have received approximately £15 from crypto staking since 06.04.2024, this has now stopped. After reading the crypto manual this £15 would come under miscellaneous income and income tax. Is this correct? Do I need to report this £15 to HMRC? I have no other income apart from what I withdraw from my ISA's. Thank you in advance.
Posted Thu, 23 May 2024 08:48:33 GMT by HMRC Admin 25 Response
Hi Adam Smith,
No, you do not declare this.
Thank you. 
Posted Sun, 02 Jun 2024 16:06:45 GMT by Adam Smith
Thank you for your reply. A follow on question related to the same topic. Is my understanding correct I can earn up to 1000 pounds from crypto staking and this would be classified as miscellaneous income?
Posted Wed, 05 Jun 2024 11:18:50 GMT by HMRC Admin 10 Response
Hi
No.  Any gain arising from the disposal of crypto would be a capital gain.  The current annual exempt allowance is £3000.  If you are trading as a business, you have a £1000 trading income allowance, which when exceeded, must be declared on a self assessment tax return.

You must be signed in to post in this forum.