Does Exodus Report to HMRC?

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Exodus

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Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Exodus’s tax reporting policies within United Kingdom. We’ll also break down a simple way to report your Exodus taxes in minutes.

Does Exodus report to HM Revenue & Customs (HMRC)?

HMRC has requested UK taxpayer information from the largest exchanges and wallets operating within the country. While it has not been confirmed whether Exodus has complied with requests of HMRC, other prominent exchanges such as Coinbase have stated that they cooperated by turning over transaction details for users who received more than £5,000 worth of crypto on its platform.

What does HMRC do with the information that Exodus provides?

HMRC has used data matching to crack down on crypto tax fraud. By using information provided by exchanges and wallets like Exodus, HMRC is able to track crypto transactions and identify individuals who have not met their tax obligations.

Do I have to pay taxes on my Exodus transactions?

Yes. In the UK, your transactions on Exodus or other platforms are subject to capital gains tax and ordinary income tax.

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.

For more information, check out our complete UK guide to cryptocurrency taxes.

Is Exodus legal in the UK?

Yes. Exodus operates legally in the UK.

How do I avoid Exodus 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.

For more information, check out our guide on how to avoid crypto tax in the UK.

Get a Exodus tax report today

Looking for a simple way to report your Exodus taxes? With CoinLedger, you can import your Exodus transactions and auto-generate a complete gains, losses, and income tax report in minutes.

CoinLedger integrates with Exodus 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.

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