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If you received new cryptoassets from a hard fork, this may be taxable on either receipt, disposal or both.

Generally, the receipt is unlikely to be taxable in most cases. It will be taxable if you:

  • have a cryptoasset business
  • acquired the cryptoassets as part of a profit-making undertaking or scheme.

In other cases, the receipt is not taxable.

Disposing of your cryptoassets received from a hard fork is taxable in most cases. It is taxable where you:

  • have a cryptoasset business
  • disposed of the cryptoassets as part of a profit-making undertaking or scheme;
  • acquired the cryptoassets for the purpose of disposing of them
  • acquired the original cryptoassets for the purpose of disposing of them (where you received the new cryptoassets through an exchange without doing anything).

In most cases, the disposal will be taxable. You can find more information in 'Income tax - tax treatment of cryptoassets received from a hard fork' on our tax technical website.

QB21/07 Income tax - tax treatment of cryptoassets received from a hard fork

Acquiring cryptoassets to sell or exchange

Using cryptoassets for a profit-making scheme

Cryptoasset businesses

Last updated: 29 Jul 2021
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