¿Te preocupa cómo tratar las pérdidas por Bitcoin en la contabilidad de la empresa? No es necesario usar moneda real para que exista un trading loss, pero la clave es demostrar que la actividad califica como trade. This guide explains, in practical steps, how Business Loss Relief: Crypto as Trade works for companies, what evidence HMRC expects, and how to present claims in corporation tax returns.
Key takeaways: what to know in 1 minute
- Whether crypto is trading or investment determines relief: If crypto activity qualifies as a trade, losses may be available as trading losses and set against profits differently than capital losses.
- HMRC applies established trading tests: Frequency, commerciality, intention to make profit, and accounting treatment matter when classifying crypto as trade.
- Documentation is decisive: detailed records, accounts, and a trade rationale are required to support Business Loss Relief: Crypto as Trade.
- Relief mechanics differ: Trading losses can be offset against current profits, carried back, or used for group relief; capital losses follow the capital gains rules.
- Practical steps exist: A clear self-assessment and corporation tax workflow is provided with worked examples and a checklist for HMRC evidence.
Do I need to report Bitcoin to HMRC?
When a company must report crypto transactions
A company that deals in cryptoassets in any capacity must report crypto-related income or disposals where they affect taxable profits or capital gains. This includes sales, swaps, receipts from services paid in crypto, and disposals following staking or yield events. If the company treats crypto activity as a trade, reporting must reflect trading profits or losses in the company tax return (CT600) and in the statutory accounts.
What triggers a reporting obligation
- Disposal of crypto (sale, exchange, use to pay) that gives rise to a gain or loss.
- Receiving crypto as income for goods or services (recognised as taxable income).
- Staking rewards, airdrops or yield that are realised or treated as part of trading receipts.
HMRC guidance on cryptoassets is published at HMRC: Cryptoassets manual and guidance.
How HMRC treats crypto for Capital Gains Tax
Capital vs trading: why classification matters
If crypto is held as an investment, disposals are subject to the capital gains regime; Business Loss Relief: Crypto as Trade does not apply. When HMRC accepts trading treatment, losses are dealt with under corporation tax trading loss rules, which are generally more flexible (carry-back, group relief, immediate set-off) than capital loss rules.
How capital gains treatment works for companies
- Compute chargeable gain using acquisition cost, allowable costs and disposal proceeds.
- Use indexation or pooling rules as applicable (indexation frozen for post-2017 periods for companies in corporation tax calculations — check current practice).
- Losses are capital losses and have restricted relief (only against capital gains, subject to carry-forward/back rules).
See HMRC CGT guidance and corporate tax practice at HMRC: Capital Gains Tax.
Step-by-step self assessment for crypto gains
Step 1: decide whether activity is trading or investment
- Apply the classic trading tests: intention to make profit, frequency of transactions, short-term nature, organisation and commerciality. Document the rationale in board minutes or a directors' report.
- Create a checklist showing how the company meets each test. This will form part of the evidential file for HMRC.
Step 2: prepare statutory accounts reflecting the treatment
- If trading: include crypto balances in inventories or financial assets as appropriate and disclose accounting policy. If investment: disclose as investments and separate realised/unrealised gains.
- For trading, show revenue, cost of sales and expenses related to crypto operations. Ensure accounting entries have supporting ledgers and timestamps.
Step 3: calculate taxable profit or loss
- For trading: taxable profits are computed under corporation tax rules; include trading receipts from crypto, deduct allowable expenses and compute trading loss.
- For capital: compute gains/losses under capital rules.
Step 4: claim loss relief in the CT600
- Trading losses: claim relief in the company tax return (CT600) under the relevant box and provide a computation and narrative in the supplementary information.
- Specify whether the claim is for carry-back, group relief or carry-forward. Include a clear quantification and link to the accounts.
Step 5: prepare supporting file for HMRC
- Include transaction export, wallet statements, exchange statements, bank receipts for fiat conversions, board minutes and accounting ledgers.
- Store immutable exports (CSV with hashes or signed PDFs) and a reconciliation showing each transaction’s treatment.
Step 6: keep contemporaneous records and be ready for enquiries
- HMRC may open an enquiry. A well-structured evidential file reduces risk and the time to resolve queries.
Which crypto transactions are taxable and when
Taxable events for companies
- Sale of crypto for fiat or other crypto (disposal). Taxable when realised.
- Use of crypto to pay suppliers or employees (treated as payment in kind; tax consequences for payee and company).
- Received crypto as consideration for goods or services (income when receivable).
- Staking rewards, mining receipts, airdrops: may be trading income or capital in nature depending on activity.
Timing: when a disposal is treated as realised
A disposal is normally realised when the company parts with the asset and becomes free of it — typically when it is transferred or exchanged. Detailed timestamped records showing transfer and receipt are essential. For complex arrangements (cross-chain swaps, wrapped assets), document the economic substance and legal transfer points.
Keeping records: what HMRC expects for crypto
HMRC expects records to be complete, accurate, and retained for at least six years (longer if tax avoidance enquiries). Records should include:
- Transaction date and time (UTC), amount and type of token.
- Counterparty details and wallet addresses.
- Consideration received or paid (GBP equivalent) and exchange rate source.
- Purpose: sale, purchase, receipt for services, staking reward, airdrop.
- Wallet and exchange statements, private keys custody arrangements (summary only), and reconciliation to bank receipts.
Practical record-keeping checklist for Business Loss Relief: Crypto as Trade
- Ledger export (CSV) covering full period
- Exchange withdrawal histories
- Bank statements for fiat conversions
- Contracts or invoices where crypto was used as payment
- Board minutes endorsing trading treatment
- Accounting journal entries and trial balance reconciling crypto accounts
Claiming losses and reliefs on Bitcoin tax
How trading losses can be used
If crypto qualifies as a trade, trading losses can be:
- Offset against other profits of the same accounting period (reduces corporation tax liability).
- Carried back to the previous year (subject to rules) to reclaim tax already paid.
- Group relief: surrendered to group companies in the same period.
- Carried forward against future profits of the same trade.
Each route has procedural and time limits; attach clear computations to the CT600 and maintain a loss history.
Practical worked example (company trading Bitcoin)
- Company bought 100 BTC in 2024 at £30,000 each (total cost £3,000,000).
- During 2025 the company sold 60 BTC for £20,000 each (proceeds £1,200,000) and carried operating costs of £400,000 related to trading (platform fees, salaries, software).
- Taxable result for trading year: receipts £1,200,000 – cost proportion (60/100 * £3,000,000 = £1,800,000) – operating costs £400,000 = trading loss £1,000,000.
Relief options: carry back against prior profits (if any), surrender to group companies, or carry forward. Document the computation and ledger entries.
Comparison: trading loss relief vs capital loss (table)
| Feature |
Trading loss (crypto as trade) |
Capital loss (investment) |
| Offset against profits |
Yes — current year, carry-back, group relief options |
Only capital gains of same period (restricted) |
| Evidence needed |
Detailed trading records, business plan, accounting treatment |
Acquisition/disposal records and valuations |
| Flexibility |
Higher — can relieve trading profits and group companies |
Lower — carried forward against capital gains only |
Process flow for claiming trading loss relief
Claiming crypto trading loss: flow in 6 steps
1️⃣
Decide trade vs investmentBoard minutes + checklist
2️⃣
Compile transaction ledgerCSV, timestamps, wallets
3️⃣
Prepare accountsReflect treatment in P&L and balance sheet
4️⃣
Compute tax resultTrading profit/loss computations
5️⃣
Claim relief on CT600Attach computations and notes
6️⃣
Retain file for enquiry6+ years, immutable exports
Advantages, risks and common mistakes
Benefits / when to apply ✅
- Significant trading losses that can meaningfully reduce group/corporate tax bills.
- Operational crypto businesses (market-makers, brokers, payment processors) where activity meets trading tests.
- Businesses wanting flexible relief such as carry-back to prior profitable periods or group surrender.
Errors to avoid / risks ⚠️
- Insufficient evidence: treating crypto as trade without contemporaneous board approval and accounting entries.
- Mixing personal and company wallets: undermines the trading narrative.
- Incorrect valuations: failing to use reliable GBP equivalents and documented exchange rates.
- Overstating losses: HMRC may adjust if costs are not allowable or correctly apportioned.
Questions frequently asked
Can a one-off large disposal be treated as trading?
A one-off disposal is unlikely to be trading unless part of an organised, commercial activity; evidence of ongoing operations and profit motive is essential.
How should staking rewards be reported for a trading company?
If staking forms part of the trading business (systematic rewards treated as receipts), report as trading income; otherwise consider capital treatment for incidental receipts.
Can losses from crypto trading be carried back to prior periods?
Yes — trading losses can often be carried back to the previous accounting period or beyond subject to statutory limits and conditions.
What exchange rate should be used to convert crypto to GBP?
Use a consistent, reliable source and document it (e.g., a major regulated exchange rate at the time of transaction). HMRC expects transparency on exchange rate selection.
Is it necessary to notify HMRC before changing accounting treatment to trading?
No formal prior notification is required, but the rationale should be documented and disclosed in the company tax return and accounts to reduce enquiry risk.
What happens if HMRC disputes the trading classification?
HMRC may adjust the treatment and reclassify results as capital. Proper documentation and legal/technical opinion strengthen the position; consider professional representation for disputes.
Your next step:
- Gather: export full transaction ledgers, exchange statements and bank receipts for the accounting periods in question.
- Document: prepare a trading checklist, board minutes and an accounting policy note explaining why crypto activity is a trade.
- File: complete the CT600 with the trading loss computation, attach evidence and retain the full evidential file for at least six years.