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Posted Mon, 24 Oct 2022 20:11:20 GMT by Julia P
Hello, I need your advice. If a person has made only investments in crypto currency during the financial tax year (only buy) without making any trading and accordingly without making any profit or loss, how they need to declare this in their SA tax return. They do not plan to trade during the next financial year. They just buy assets (the crypto currency) with plans to sell in the future but not in the next financial year. Can this investments to be calculated as expeneses only and which part of the tax return they need to fill in Thank you
Posted Fri, 28 Oct 2022 10:23:35 GMT by HMRC Admin 20
Hi Julia P,

You do not need to declare the purchase of crypto currency.  
It is only when you sell the crypto currency that a gain or loss could arise.  
There is a guidance at Check if you need to pay tax when you sell cryptoassets

Thank you.
Posted Fri, 28 Oct 2022 10:32:55 GMT by Julia P
Hello, Thank you for the usefull information Julia

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