Skip to main content

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

  • RE: Crypto Staking - Income Tax & Cost basis for CGT

    It seems like this thread has been passed over or slipped through the cracks as it looks like everyone else that posted around the same date has received a response - can someone advise as it will inform how I record both income and cost pooling over the coming year. Thank you.
  • Crypto Staking - Income Tax & Cost basis for CGT

    If I am solo staking on the Ethereum network, there are 216 epochs per day which attract income of approximately 12k Gwei (approximately £0.02 GBP) each of these are spaced out 6 minutes and 40 seconds apart. When declaring income from staking on my self-assessment should I treat the income from each epoch as a single transaction and as per CG59510 using the lowest daily closing price to value each one? This would be 78,840 transactions in a given tax year. OR Should I sum the income from 216 daily epochs into one line item and use daily closing price to value the income? OR Should I treat the income as income when it is swept from the validator into the withdrawal account? This happens once every 5 days or so. Additionally, as the price when the tokens are received forms the cost basis as regards cost pooling and capital gains tax - which method from above would also be most appropriate and acceptable to HMRC?