Crypto.com today announced the launch of its free crypto tax reporting feature to all UK retail crypto traders and investors. The service has been available to American and Canadian users for some time, with the UK being the third country to get the benefit.
The service helps clients of the major exchanges to file their tax returns with Her Majesty’s Revenue Service at no cost, with the entire process taking just a few minutes to complete.
The service addresses the complex nature of cryptocurrency taxes that make it quite hard for crypto investors to file their taxes. All UK crypto users can generate accurate and detailed tax reports with their entire transaction history, losses, and capital gains, including other taxable and non-taxable events.
Kris Marszalek, Crypto.com’s Co-founder and CEO, said: “We have long been committed to offering the most compliant and easy-to-use crypto platform in the world. After launching our tax reporting service in the US, Canada and Australia, we’re excited to now offer it to all crypto users in the U.K. Look out for more countries to be added soon.”
Crypto.com developed the platform in close collaboration with UK tax experts to ensure that the logic behind the process is compliant with the UK’s laws and guidance about filing crypto taxes.
HMRC accepts completed tax returns for the 2020 to 2021 tax year between 6 April 2021 and 31 January 2022.