Crypto Mining Tax Calculator (UK)

Find out how much of your mining income may be taxable in the UK. This calculator helps you apply HMRC rules to estimate what portion of your mining rewards might be subject to Income Tax, after accounting for expenses and the £1,000 Trading Allowance.

How the Calculator Works

This tool is designed for individuals who mine crypto and receive tokens in return. In most cases, those tokens are treated as income when received, based on their market value in GBP.

To use this calculator, you’ll need to know:

• The value of the crypto you mined, at the time it was received (in GBP)
• Any expenses you incurred while mining (e.g. electricity, hosting)
• How much of your £1,000 Trading Allowance is unused for the tax year (our calculator defaults to £1,000, but adjust it if needed)

Our calculator will:

1. Determine whether it's beneficial to claim expenses or your unused Trading Allowance
2. Show your taxable income
3. Estimate the Income Tax due at 20%, 40%, and 45%

This is a simplified tool for illustration purposes only. It calculates income at the point rewards are received. It does not cover business-scale mining, pooled mining, or future Capital Gains when the crypto is sold. If you mine regularly or commercially, speak to a tax adviser.

For more information on how mining is taxed, see our guide to how mining rewards are taxed.

Try the Calculator

Tax Rates: 20%, 40% or 45%

This calculator shows estimates at three income tax rates:

Band	Income Range (2025/26)	Tax Rate
Basic	Up to £50,270	20%
Higher	£50,271 to £125,140	40%
Additional	Over £125,140	45%

You’ll need to consider your total income to determine which rate applies. This tool shows all three so you can see what the tax might be under each scenario.

FAQs

How does this calculator determine my taxable mining income?
The calculator works out whether it’s better to use your Trading Allowance or claim actual expenses, then deducts the chosen amount from your mining income and estimates the Income Tax across all three tax bands.

Does this calculator tell me which tax band I’m in?
No — it gives estimates for all three bands. You’ll need to know your total taxable income for the year to determine which rate applies.

Can I claim both mining expenses and the Trading Allowance?
No. HMRC only allows you to use one or the other. This calculator automatically applies whichever gives you the better result.

Is the Trading Allowance automatically applied?
The tool assumes the full £1,000 allowance is available. If you’ve used part of it already (e.g. for other side income), adjust the input accordingly.

Does this calculator apply to commercial mining?
No — it’s designed for individuals mining occasionally. If you mine regularly, have business-like operations, or run a node commercially, HMRC may treat it as a trade. You’ll need to complete accounts and file accordingly.