Our HMRC Readiness Check is designed to help crypto investors understand how prepared their records are in the event of a tax review.
HMRC has increased its focus on crypto activity in recent years, and many investors are unsure whether their transaction history, calculations, and reporting would stand up to scrutiny.
This check gives you a structured way to assess your current position. It highlights potential gaps in your record-keeping, areas where mistakes are common, and where additional work may be needed before filing or responding to HMRC.
It is not a tax calculation tool. Instead, it focuses on the practical side of compliance — the quality, completeness, and reliability of your records.
This readiness check is aimed at UK crypto investors who want to understand how their current records would hold up if reviewed by HMRC.
You may find it particularly useful if you:
Even if you already use crypto tax software, this check can help you identify areas where data may be incomplete or assumptions may need revisiting.
The HMRC Readiness Check focuses on the key areas that typically cause issues in crypto tax reporting.
These include:
Each question is designed to highlight practical risks rather than technical edge cases. The aim is to give you a clear, realistic view of your current level of preparedness.
At the end of the check, you will receive a score based on your answers, along with a summary of what that means for your HMRC readiness.
Your result will place you into a tier, helping you understand whether your current setup is likely to be sufficient or whether there are areas that need attention.
You will also see clear next steps to help you improve your position, whether that involves tightening up your records, reviewing past activity, or seeking further support.
The aim is to give you clarity, not to overwhelm you. Many crypto investors are in a similar position, and small improvements in record-keeping can make a significant difference.
Unlike traditional investments, crypto transactions often take place across multiple platforms and formats, making it harder to maintain complete and accurate records.
HMRC expects taxpayers to take reasonable care when reporting their crypto activity. Incomplete records or incorrect assumptions can lead to errors in reported gains or income, which may result in penalties or further enquiries.
Being prepared does not mean being perfect. It means having a clear, consistent record of your activity and understanding how it should be treated for tax purposes.
This check is designed to help you move closer to that position.