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.
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.
Should I sum the income from 216 daily epochs into one line item and use daily closing price to value the income?
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?