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Free Crypto Tax Calculator: Where Can I Find One?
Free crypto tax calculator: Do they exist and are they worth it? Here are your options.
In this article...
- Calculate your crypto taxes using a tax calculator.
- Simplify your tax reporting process.
- Find reliable and accurate calculators.
Is there a free crypto tax calculator? There are three answers here. Yes, no, and we have discount codes to some really good ones that make them much more affordable.
Free crypto tax calculator: is there such a thing? If you’ve dabbled in any cryptocurrency trading this financial year in the UK, you'll need to consider the tax implications.
Any cryptocurrency transaction, including buying, selling, trading, mining, staking, giving, or receiving, must be reported on your tax return. This requirement applies regardless of where the transaction occurred — be it in the UK, Australia, the United States, or even a remote tax haven in the Pacific.
Essentially, if you’ve used crypto, the tax man wants to know about it. However, calculating your cryptocurrency tax can be complex, with various factors to consider when preparing your tax return.
There is a really comprehensive article if you want to speed up your knowledge before you choose a crypto tax calculator.
Does the HMRC track your crypto trades?
Yes, Her Majesty’s Revenue & Customs (HMRC) cryptocurrency transactions.
It’s crucial to keep accurate records of these transactions.
Free crypto tax calculator / Free crypto tax software
Are there free crypto tax calculators? Yes, there are. But unfortunately, the most well-known one, at , is thought of as not being very accurate, and it is being retired very soon.
Free trial periods
There are crypto tax software companies that have free trial periods and offer free initial calculations. But to do anything meaningful, you are going to need to get a subscription to one of the companies that offer crypto tax calculators.
So a suitable option is to subscribe to a paid service. The good news here is that we have some discount codes for you.
Automate your tax return
Crypto accounting apps like Koinly, Koinx, CoinTracker, Crypto Tax Calculator and Coinpanda can help. These programs track all your transactions in real-time, regardless of where and when they occur.
At the end of the financial year, they compile your transaction history into a document that details your capital gains and losses in GBP. This makes it convenient to assess your tax obligations and monitor your overall portfolio performance.
CoinJar now offers full, protected transaction integration with multiple crypto tax calculators. This means any cryptocurrency transaction conducted on CoinJar will be directly transferred to your chosen crypto tax software account. You will be ahead of the game at tax time.
Special offers for CoinJar users
Special offer for Koinly, Koinx and Crypto Tax Calculator
Some of these crypto tax calculators are giving discounts to CoinJar customers.
has provided a 50% discount when using the code COINJAR50. Use . It will automatically apply the 50% discount code. Offer ends October 31, 2024.
Koinly is offering 20% off your first Koinly tax report using the code COINJARUK25 at checkout using .
The offer is valid until October 31, 2024.
Redemption Conditions:
New Customers Only: This voucher is valid exclusively for first-time customers. UK Residents: Redemption is restricted to users located in the United Kingdom. 20% Discount: Enjoy a 20% discount on Koinly plans. Dates: 16 December 2024 to 04 February 2025. Koinly reserves the right to end the offer at any time. This offer cannot be used in conjunction with any other offer. One use per customer. Excludes Koinly CPA and B2B customers.
is giving new users a 30% discount off any paid plan when you enter the code at checkout. Code expires 05 April 2025.
New Crypto Tax Calculator customers only. Discount valid for first year only.
T&Cs
Links to third-party websites will open new browser windows. Except where noted, CoinJar has no affiliation to these third party websites and accepts no responsibility for the content on third-party websites.
Important: CoinJar UK Limited does not warrant the adequacy, accuracy or completeness of any tax calculation by any app, including those mentioned above and CoinJar expressly disclaims any liability for errors or omissions therein. Users are personally responsible for evaluating the accuracy, completeness or usefulness of any information or other content available on these sites.
Disclaimer: Crypto tax apps are not CoinJar services. If you use these services, you’ll be subject to the applicable terms and conditions of use for these products, including a separate privacy policy, which may differ from CoinJar’s privacy policy. You should read and understand all applicable terms before using them.
Frequently asked questions
What types of taxes do investors need to pay on selling cryptocurrency, buying cryptocurrency and trading crypto, and how are they calculated?
Cryptocurrency is subject to both capital gains and income tax in the UK. Capital gains tax applies when you sell, trade, or spend cryptocurrency, and is calculated based on the difference between your cost basis (the price you paid for the crypto) and the selling price.
Income tax may apply if you earn cryptocurrency through activities like mining, staking, or receiving it as payment for goods or services. The tax rate you pay depends on whether the crypto was held for more than 12 months (long term) or less than 12 months (short term).
How can a free crypto tax calculator help me calculate my tax liability?
A free crypto tax calculator can help you determine your tax liability by aggregating your crypto transactions, calculating capital gains and losses, and categorising transactions as either ordinary income or capital gains. This information can be used to estimate your total tax due, which you can then report on your tax return.
Do investors have to pay capital gains tax on crypto-to-crypto transactions?
Yes, crypto-to-crypto transactions are considered taxable events in the UK. Each time you trade one cryptocurrency for another, you are essentially disposing of the original crypto, which triggers a capital gain or loss calculation. You can calculate tax on crypto using a crypto tax calculator.
Are there any situations where investors don't have to pay tax on cryptocurrency?
You generally don't have to pay tax on cryptocurrency if you are simply buying and holding it. However, if you sell, trade, or use it to purchase goods or services, you will likely trigger a taxable event. Additionally, donating cryptocurrency to a registered charity is generally exempt from capital gains tax.
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