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Reporting CGT (HMRC 'Real Time’ Capital Gains Tax Service) [UK]

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Reporting CGT (HMRC 'Real Time’ Capital Gains Tax Service) [UK]

Hello all,

I’ve held cryptocurrency assets since 2017 and every time I have sold some, I have done so within the CGT allowance, thus not triggering a taxable event that needed to be reported. Due to changes in life circumstances, I am looking to convert a sum larger than the annual CGT tax into GBP/cash. I’ve done some research into my options for this and the HMRC ‘Real Time Reporting Service’ seems to be the easiest and best choice for me.

The attached image below shows the questions that the services asks and I do find some of them to be a little unclear and confusing...

https://preview.redd.it/8hfp2rnoekeh1.jpg?1268&format=pjpg&auto=webp&s=a8e1e5e00280174628d981c5d0804263198c0ed9

I've looked into koinly and recap as tools to pull all of your transaction data together and provide tax summaries but I am confused how to go about actually answering most of the "How much..." questions from above as I've steadily bought over time as the prices of these assets went up...

I would appreciate some advice or guidance from anyone who has used this service before, and maybe a summary of how they got to their figures that were submitted so I can get my head around it better. I don’t want to be in a situation whereby HMRC are potentially on my back due to reporting something incorrectly and/or being fined. I simply want to pay the tax I’m owed as soon as possible after/when I convert crypto to fiat so I can be in the clear.

Thanks in advance!

submitted by /u/glennthomasholt
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