Self assessment: consulting income and crypto loss

Hello, I will be doing my first individual assessment. This is because I have done some consulting work and earned about £2,000 over the 22/23 tax year. This is something I do for extra income, and not part of my normal day job. Since this income is over my £1,000 trading allowance, I will be paying tax. However, I have also invested in crypto and made a loss of £5,000 during the same tax year. I have sold the assets. My question is, can I offset the tax due on my consulting work for the loss I made on my crypto purchase? If so, what evidence would I need to provide to HMRC? Would this have any negative implications (e.g. credit score, etc)? Thank you

Hi,

The crypto loss falls under capital losses and can only be set against future Capital Gains. You cannot set this against your self employment.

Thank you.