Key TakeawaysÂ
- KuCoin currently does not operate in the UK. However, you are required to report all of your taxable income from cryptocurrency to the HRMC.Â
- CoinLedger can help you generate a complete crypto tax report in minutes!
Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze KuCoin’s tax reporting policies within United Kingdom. We’ll also break down a simple way to report your KuCoin taxes in minutes.
Does KuCoin report to HM Revenue & Customs (HMRC)?
At this time, KuCoin is not available for UK residents.Â
UK residents who previously opened an account can log in and withdraw assets, but cannot make trades.
What does HMRC do with the information that KuCoin provides?
HMRC has used data matching to crack down on crypto tax fraud. While KuCoin may not report to the IRS, the HRMC can use sophisticated blockchain analysis to find your identity and discover any unpaid taxes you may owe.
Do I have to pay taxes on my KuCoin transactions?
Yes. In the UK, your transactions on KuCoin or other platforms are subject to capital gains tax and ordinary income tax.Â
If you’ve earned or disposed (ex. Sold or traded away cryptocurrency) during the year, you’ll have a tax liability to report to HMRC.Â
For more information, check out our complete UK guide to cryptocurrency taxes.Â
Is KuCoin legal in the UK?
Kucoin has many UK users. However, the company is not regulated by the Financial Conduct Authority (FCA).
How do I avoid KuCoin taxes in the UK?
Remember, there is no way to legally evade your taxes in the UK. However, tools like tax-loss harvesting and cryptocurrency tax software can help you save thousands of dollars legally.Â
For more information, check out our guide on how to avoid crypto tax in the UK.Â
Get a KuCoin tax report today
Looking for a simple way to report your KuCoin taxes? With CoinLedger, you can import your KuCoin transactions and auto-generate a complete gains, losses, and income tax report in minutes.
CoinLedger integrates with KuCoin and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.
You can get started with a free preview report today.