How is crypto taxed in the UK

There are two types of taxes that individuals will generally be liable for on their crypto:

Capital Gains Tax (CGT)

Income Tax (IT)

Examples of transaction liable for CGT

*Selling crypto for FIAT currency

*Paying for services and products with crypto

*Trading crypto for crypto

*Gifting crypto ( few exemptions )

Examples of transaction liable for IT

*Getting paid in crypto

*Mining

* Most cases of airdrops

*Staking rewards

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