Short answer: In the UK, selling crypto — including swapping one coin for another — counts as a disposal for Capital Gains Tax (CGT). You get a £3,000 tax-free allowance per year. Above that, gains are taxed at 18% inside your remaining basic-rate income tax band and 24% above it. Enter your numbers below for an instant estimate.
Last updated: 22 October 2026 · Estimate only — not tax advice.
How UK crypto CGT works (the short version)
- A swap is a sale. Exchanging BTC for ETH counts as a disposal — you can owe CGT even though no pounds touched your bank. Our full guide to swap tax walks through the rules step by step.
- Moving between your own wallets is NOT a disposal. No tax on wallet-to-wallet transfers.
- Costs come from a pool. HMRC's Section 104 rules average your buying costs; same-day and 30-day "bed and breakfasting" rules can change the cost used.
- £3,000 allowance per person, per year. It cannot be carried forward — use it or lose it.
- Rates: 18% on gains inside your remaining basic-rate band, 24% above it (rates since 30 October 2024).
This calculator uses the standard personal allowance (£12,570) and basic-rate band (£37,700) for England, Wales and Northern Ireland. Scottish income tax bands differ, so results for Scotland are approximate. You may still have to report disposals even when no tax is due — check HMRC's page below before you file.
Worked example (illustrative — not advice)
Say you sell £20,000 of ETH that cost you £8,000 including fees, and you earn a £30,000 salary:
- Gain: £20,000 − £8,000 = £12,000
- Allowance: no other gains this year, so £3,000 used → taxable gain £9,000
- Basic-rate band: £30,000 income − £12,570 personal allowance = £17,430 taxable income → £20,270 of the £37,700 band left
- Tax: the full £9,000 sits inside the band → 9,000 × 18% = £1,620 (an effective 13.5% on the gain)
FAQ
Is swapping one crypto for another taxable in the UK?
Yes. HMRC treats a token-for-token swap as a disposal of the token you gave away, so it can trigger CGT even with no cash involved. See our swap-tax guide for worked examples.
Do I owe tax if my total gains are under £3,000?
No CGT is due on gains within the annual exempt amount. But you may still need to report the disposals depending on your total proceeds for the year — HMRC's thresholds have moved as the allowance shrank, so check the official "check if you need to pay tax" page linked below before deciding not to file.
Does moving crypto between my own wallets trigger CGT?
No. Transfers between wallets you control are not disposals. Tax only bites when you sell, swap, spend, or gift the tokens to someone other than your spouse or civil partner.
Where do I report crypto gains in the UK?
Through Self Assessment. Gains for the 2025/26 tax year go on the return due by 31 January 2027. Keep records of every disposal — dates, sterling values, and costs — because HMRC can ask for them.
Related from Bia Crypto
- Is a Crypto-to-Crypto Swap Taxable in the UK? CGT Rules + Worked Examples (2026/27)
- Crypto Taxes for Beginners: What You Actually Owe (2026 Guide)
- Crypto Staking Rewards Calculator 2026
Sources
- GOV.UK — Check if you need to pay tax when you sell cryptoassets
- HMRC Cryptoassets Manual — which taxes apply for individuals (CRYPTO20050)
- HMRC Cryptoassets Manual — CGT computation examples (CRYPTO22280)
Disclaimer: This tool gives a simplified estimate for education only. It is not financial or tax advice. For large gains, losses, or business activity, speak to a UK tax adviser.
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