Self Assessment, do I need to declare crypto income & CGT on amounts under allowance?
Hi,
I am doing a self assessment for regular income anyway. Last year I declared crypto income from staking just to keep records right even though I owed no tax and everything was under allowance.
This year, I have more income from staking (under allowance), a CGT loss and a gain - which if I deduct the loss from gain i’ve only gained about £100. This is also under the allowance. The amounts in loss / gain was under £1000.
Should I continue to declare the staking income just to keep records right and also declare those losses / gains so they know what I’ve done for the year, regardless of if being under allowance?
I’ve only done a tax return last year and this year. Neither has been over any allowance / owed tax. But I’m just trying to keep records clear for them / me.
I’ve read some people say to others that they ‘should’ just to hold the record and others say not to because HMRC will just get picky for no reason. I wondered what others thought of my situation.