Coinbase will make it mandatory you have to submit your tax info by January 2027

“In the UK, cryptocurrency is taxed by HMRC as either Capital Gains Tax (CGT) or Income Tax. You pay CGT (18% or 24%) on profits when selling or trading crypto above the £3,000 tax-free allowance. You pay Income Tax (20% to 45%) on earned crypto like staking or mining above the £12,570 personal allowance”

Considering you already pay like 10-20% in fees buying and selling

Lets say you invest 30000 pounds and it goes to 40000

you pay 20% tax on 10000 profit = 2000 tax and 8000 profit

But when you sell you have to buy and sell you pay like 20% at least in fees and spread= Another 2000 profit

So 10,000 profit, suddenly reduces by 40% and becomes 6000 profits….

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