HMRC does not care which crypto app someone uses; it cares whether the figures are correct. That is where many UK users get stuck. A report can look neat on screen and still fail on disposal matching, staking income, DeFi activity, or Self Assessment entries.
Koinly and CoinTracker can help with HMRC reports, but they do not always produce the same outputs or cover the same tax cases. The best choice depends on whether the user needs a capital gains report, an income report, Self Assessment figures, or support for DeFi and multiple exchanges. The key is understanding how each one maps to HMRC rules, where each one can go wrong, and which is safer for a UK return.
Comparativa rápida
| Criterion |
Koinly |
CoinTracker |
UK HMRC view |
| Capital gains summary |
Strong for disposals, cost basis, and gain/loss grouping |
Adequate for simple trade histories |
Useful only if transfers and matching are clean |
| Income report |
Usually clearer for staking, rewards, and other taxable income |
Can work, but UK treatment often needs more review |
Needed where rewards are taxed as Income Tax, not CGT |
| Wallet and exchange syncing |
Broader practical coverage for mixed portfolios |
Works well for standard exchange imports |
Weak syncing creates wrong HMRC figures fast |
| Audit trail |
Usually easier to trace adjustments and source data |
Readable, but less useful when data is messy |
HMRC care about the trail, not the logo |
| Price, 2025 |
Plans commonly start around £49 per tax year, with higher tiers for more transactions |
Plans commonly start around $49 per year, with higher tiers for larger activity |
Price matters less than whether the report is usable |
The real test is simple: can the report survive a manual HMRC review without major rework?
The most useful report is the one that separates disposals, income, and transfers cleanly enough for Self Assessment.
What the table means
Koinly usually wins on UK tax usefulness because it gives more practical outputs for capital gains calculation and income classification. CoinTracker can look neat in a dashboard, yet that polish does not always translate into cleaner HMRC figures.
A useful rule of thumb applies here: if your portfolio has more than one exchange, more than one wallet, or any staking income, the gap between the tools gets wider. This is where a spreadsheet alone stops being enough.
The cost figures also matter, but only after accuracy. A cheaper tool that misreads transfers can cost more in tax, time, and corrections.
What this table leaves out
The table does not show how much manual clean-up your data needs. That is the hidden cost, and it often decides the winner.
The error most people make at this stage is treating a CSV export as a finished HMRC report. It is not. It is raw material.
Choose Koinly if you want the more HMRC-friendly starting point for a mixed UK crypto history. Choose CoinTracker only if your trades are simple and you are ready to check every figure.
Koinly and CoinTracker: when each fits best
Koinly usually suits UK users who need more than a basic trade summary. It provides capital gains outputs, income reports, and a clearer route from wallet data to Self Assessment figures. It tends to be stronger when the portfolio includes transfers, exchange fees, staking, or a few awkward wallet histories, and it gives a more practical audit trail for UK tax work, which matters if HMRC asks how the figure was built.
CoinTracker can work well for simpler portfolios with fewer moving parts. It is often enough for a basic buy, hold, and sell pattern where the exchange history is clean, and it offers a straightforward way to see gains and holdings. That can suit users who want less clutter and fewer screens, especially when activity is limited to standard spot trading on one or two platforms.
Pros
Koinly handles mixed activity better than many basic tools. It is often the better choice when staking or rewards are part of the picture.
CoinTracker is simpler to use and can be useful when the activity is limited to standard spot trading on one or two platforms.
Contras
Koinly still depends on clean source data. If an exchange omits old trades, the report can still be wrong. It also needs review for DeFi and NFT activity, because those areas do not always fit neatly into default tax labels.
CoinTracker is less convincing once staking, DeFi, or many transfers enter the picture. The outputs can need more manual checking before they are safe for Self Assessment, and its UK usefulness is less obvious when income needs separating from disposals.
Para quién es
Koinly suits investors and traders with several platforms, plus anyone who wants a clearer route into Self Assessment. It is often the better choice when staking or rewards are part of the picture.
CoinTracker suits casual users with simple histories and low transaction volume. It can also suit someone who only needs a broad view before checking the numbers elsewhere.
Para quién NO es
Koinly is not the best fit for someone with only a handful of buys and sells. It is also a poor shortcut for complex cases that need tailored tax advice.
CoinTracker is not the first pick for active UK traders with multiple wallets, and it is weak if you need a detailed income view for HMRC.
Koinly usually makes the UK filing job easier, but only if the user checks transfers, income labels, and fee treatment first. CoinTracker can look tidy, but tidy is not the same as tax-ready.
How to choose for self assessment
The right tool depends on what you need to enter in Self Assessment. For many UK taxpayers, that means both capital gains data and, sometimes, income data.
If you traded occasionally
If you made a few buys and sells, either tool may be enough. The safer choice still depends on whether the exports match your exchange statements.
CoinTracker can be fine here if the history is short. Koinly is the stronger choice if one or two transfers muddy the picture.
If you earned staking rewards
If you earned staking rewards, Koinly is usually the better fit. HMRC may treat those receipts as Income Tax rather than Capital Gains Tax, so the software must show them clearly.
A report that only lists disposals will miss part of the tax picture. That is a common gap.
If you used DeFi
If you used DeFi, Koinly is usually the less risky choice. DeFi often creates awkward events around deposits, LP tokens, swaps, and fees.
CoinTracker can miss context here, which makes the review harder. That is where the tool choice starts to matter.
If you used several exchanges
If you used several exchanges, Koinly usually handles the mess better. Multiple imports increase the odds of duplicate transfers and broken cost basis figures.
The first clean-up task is to remove false disposals. The second is to check whether every cost basis line looks sensible.
If you need an HMRC paper trail
If you need a paper trail, pick the tool that shows source data and adjustments clearly. HMRC care about records, not summaries alone.
A strong report should let another person trace the number back to the transaction.
Choose Koinly if your filing needs both gains and income, or if your history is messy. Choose CoinTracker if your activity is light and you want something simple.
UK tax deadline: The online Self Assessment deadline is 31 January after the tax year ends, and paper filing closes on 31 October.
HMRC’s own guidance says taxpayers must keep records to support crypto gains and income calculations, not just rely on software output.
HMRC cryptoasset guidance sets out the core UK treatment for disposals, rewards, and record keeping.
A practical filing route
Export the final report only after the data looks clean. Then map gains, losses, and income into Self Assessment.
Use the report as support, not as blind truth. That approach saves a lot of grief later.
How HMRC rules affect the report
HMRC rules shape the report more than most users realise. A platform can calculate numbers quickly and still miss the UK tax logic.
Matching rules
HMRC matching rules affect which coins count as disposed and which cost base applies. That can change the gain on paper, especially where buys happened in several batches.
FIFO-style thinking is common, but UK matching rules are more specific than many users expect. This is where software needs to get the order right.
Allowable costs
Allowable costs include fees that relate to the acquisition or disposal. If the tool misses these, the gain can look larger than it should.
That problem shows up often in exchange fees and network fees. The data may be present, but not always tagged correctly.
Income versus capital
Some receipts belong in Income Tax, not CGT. Staking, certain airdrops, referral rewards, and interest-like returns can sit on the income side.
A disposal-only report will miss that split. The result can be a clean-looking number that is still wrong.
The data points to a simple rule: report quality depends on classification, not just totals.
Where software falls short
Software falls short when it assumes every receipt is a sale. It also fails when a wallet transfer looks like a taxable event.
That is why the user still has to review the logic before filing.
Choose the tool that handles matching and income splits in the most readable way. For most UK users, that is Koinly.
Matching rule risk: A transfer mislabelled as a sale can create a false gain and push the user into the wrong CGT band.
Koinly
Better fit for multi-wallet imports, staking income, and UK-style review.
CoinTracker
Better fit for simple spot trading and lighter transaction history.
Hidden trade-offs that matter
The hidden trade-off is time versus certainty. A cheaper or simpler tool can cost more time once the review starts.
Review time
Koinly often saves time for mixed portfolios because the outputs are more useful at the start. That said, the user still needs to spend time fixing data imports.
CoinTracker may feel quicker at first. It can take longer later if the results need heavy manual correction.
Record keeping
Good record keeping reduces the risk of an HMRC challenge. The software should help you see the trail, not hide it.
That matters most when a gain looks unusual or a reward has no obvious source.
Audit support
An audit trail is only useful if the source data is complete. A neat report with missing wallet history is not much help.
The majority of guides say to compare totals. What they do not mention is the need to compare transaction-by-transaction records when the history is messy.
Neither tool is enough when records are missing, wallets are mixed with personal and business use, or the activity is tax heavy and disputed. At that point, a specialist review is usually the better route.
Choose manual review or professional support if the tax position is large, unclear, or already under HMRC scrutiny.
Best choice by user type
Koinly is the stronger default for most UK users. CoinTracker is a narrower fit that works best when the history is simple and the user wants a lighter interface.
Trader with many transactions
Koinly is usually the better choice for active traders. The gain calculation and disposal history are easier to work with when volume is high.
CoinTracker can struggle once the record gets noisy. That creates more clean-up work before Self Assessment.
Long-term holder
A long-term holder with a small number of disposals may not need the more advanced option. CoinTracker can be enough if the records are clean and there is no income to report.
Koinly still helps if transfers or staking have entered the account history.
Staking and rewards user
Koinly is the better choice for staking and reward-heavy accounts. Income classification matters too much to leave to guesswork.
CoinTracker can handle parts of this, but the review burden is usually higher.
DeFi user
Koinly is the safer pick for DeFi users because the data trail is often more complex. LP tokens, swaps, and bridging can distort the picture fast.
CoinTracker is less forgiving when the chain of events is messy.
Choose Koinly if your activity is mixed, frequent, or income-heavy. Choose CoinTracker only if the record is compact and easy to inspect.
The most useful way to compare Koinly vs CoinTracker for UK HMRC reports is by output, not branding. For a casual trader, the key deliverable is a capital gains summary that shows disposals, cost basis, and total gains or losses. For an investor with staking, an income report becomes essential because staking income may be taxable as income rather than CGT. For a DeFi user, the priority is a clear audit trail that shows swaps, bridge transfers, LP interactions, and any taxable disposals separately.
For a multi-exchange user, wallet syncing and exchange imports need to feed into one coherent transaction history without duplicated transfers. Koinly is usually stronger when those outputs need to be separated cleanly, while CoinTracker is more comfortable for simple spot trading where the tax trail is already straightforward.
What nobody tells you
The cleanest-looking report is not always the safest one. A report can be neat and still miss transfers, income, or cost basis detail.
The software name matters less
The import quality matters more than the brand. If the wallet sync is wrong, the final report will be wrong too.
That is why exchange CSVs, wallet addresses, and manual fixes matter so much.
HMRC care about explainability
HMRC care about explainability as much as the final number. A user should be able to show where each figure came from.
This is where Koinly usually has the edge for UK users. The audit trail is often easier to follow.
A real edge case
A user with one exchange, one wallet, and only a few buys may find both tools unnecessary. A simple spreadsheet and exchange statements can be enough if the record is complete.
That case is rare, but it exists.
The practical insight
Koinly is usually the better default for HMRC reporting in the UK, but it does not remove the need to review every transfer and income line. CoinTracker can work for simple cases, yet it becomes fragile once activity spreads across wallets, staking, or DeFi. If the history is already messy, neither tool is a full fix. The report still needs human checking before Self Assessment.
Choose Koinly if you want the stronger base for review and filing. Choose something else only if your case is simple enough to stay manual.
How to prepare your filing
Start with full imports from every exchange and wallet. Then reconcile the report against your own records before using it for Self Assessment.
Step 1: import everything
Add all exchanges, wallets, and any other source of transactions. Missing data creates false gains and broken cost basis figures.
Step 2: check transfers
Look for transfers that were treated as disposals. Internal moves should not create a taxable event.
Step 3: separate income
Pull out staking, referrals, interest-like rewards, and similar receipts. Those may need Income Tax treatment.
Step 4: review costs
Check whether exchange fees and other allowable costs are included. Missing costs can overstate the gain.
Step 5: keep proof
Keep statements, wallet exports, and screenshots where needed. The report should match your evidence, not replace it.
What good filing looks like
A good filing gives one clean capital gains figure, one clear income figure where needed, and a paper trail behind both. That is what HMRC can follow.
Choose the tool that gets you closest to that result with the least correction. For most UK taxpayers, that tool is Koinly.
This comparison does not apply if you had no crypto activity in the tax year, if your records are already complete and tiny, or if your case is complex enough to need personalised tax advice.
A practical HMRC filing workflow
A sensible UK filing process starts with export, not filing. First, download all exchange imports, wallet syncing data, and the full transaction history for the tax year. Then review disposals, transfers, staking income, and any DeFi activity line by line so that internal movements are not treated as taxable events and reward income is separated from capital gains. After that, compare the report’s cost basis and matching results with the original trade history to catch missing fees or duplicate entries.
Only once the figures are reconciled should they be entered into Self Assessment, with supporting notes kept for HMRC in case they ask how the numbers were built. That process matters even more for users with multiple exchanges or a mixed portfolio.
Questions about bitcoin tax in the UK
Is CoinTracker better than koinly?
CoinTracker is usually not better for UK HMRC reporting. Koinly tends to give more useful capital gains and income outputs for Self Assessment. CoinTracker can still suit simple portfolios, but the review burden often rises once staking, DeFi, or multiple wallets appear. If the goal is a HMRC-ready crypto tax report, Koinly is usually the stronger default.
Does HMRC approve koinly reports?
No. HMRC does not approve one software brand as a blanket rule. The report must simply be accurate, explainable, and supported by records. That means the figures must fit HMRC cryptoasset guidance, matching rules, and the right split between Capital Gains Tax and Income Tax where needed.
What is the main risk with CoinTracker in the UK?
The main risk is over-reliance on a neat summary. A tidy dashboard can hide transfer errors, missing fees, or poor income classification. For UK taxpayers, that matters because Self Assessment needs the right split between gains and income. CoinTracker can still work, but it needs more checking in mixed portfolios.
How do i use koinly for self assessment?
Export the capital gains and income reports, reconcile them with exchange and wallet records, and then transfer the figures into the right Self Assessment sections. Do not file the software output blind. The report is working paper support, not a substitute for review. Keep every statement and export in case HMRC asks for support.
What if i used staking and DeFi?
Koinly is usually the better fit. Staking, liquidity pools, bridges, and DeFi swaps can create both income and disposal events. A single summary page often misses that split. The safest route is to review each activity type before using the figures in your UK tax return.
Can i use a spreadsheet instead?
Yes, if the history is very small and already complete. A spreadsheet can work for a handful of trades and no income events. It becomes fragile with volume, multiple wallets, or DeFi. Once the record grows, software usually saves more time than it costs.
If neither tool fits, the activity is probably too complex for automatic reporting alone. That often means missing data, business use, or disputed classification. In that case, a manual review or specialist tax advice is safer than forcing a software report into Self Assessment.
Koinly is the better choice for most UK taxpayers. It handles mixed activity, income reporting, and HMRC-style review more reliably than CoinTracker in common real-world cases.
CoinTracker is only the better fit if your portfolio is genuinely simple and you want a lighter tool. Even then, the output still needs review before filing.
The practical answer is blunt: choose Koinly if you want the safer HMRC path, and choose CoinTracker only when the record is small, clean, and easy to check.
Final filing rule: Use the software to build the report, then use your own records to confirm the result before Self Assessment.
What the HMRC reports actually contain
For UK users, the most important difference is not the dashboard but the exact HMRC crypto reports each tool can produce. Koinly typically gives a capital gains report, an income report, a disposal list, a cost basis breakdown, and a transaction history export that can be used to populate Self Assessment pages. That means the user can usually take the totals for taxable disposals and taxable income, then cross-check them against HMRC records and exchange statements. CoinTracker also provides gains data and transaction history, but its HMRC usefulness depends more heavily on how clean the import is and whether staking income, transfers, and fees have been classified correctly.
In practice, the report is only useful if it can be tied back to the user’s own records and the final Self Assessment figures without gaps in the audit trail.
