A question for any UK celsians. The HMRC treatment of

Question

A question for any UK celsians. The HMRC treatment of

interest on the Celsius platform is confusing. Apparently transferring the tokens to Celsius may count as selling the tokens (transferring control)🤦‍♂️
has anyone done a tax return for Celsius and was the interest treated as income or capital gains? Thank you

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10.03.2022

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Victory Автор вопроса

Adam
it only counts as selling them if you actually sel...

That’s what I thought but in February HMRC updated its advice to include lending which, because the celsius terms and conditions say ‘they own our crypto’ may mean when we transfer assets to Celsius it could count as a disposal. It may well not do, it’s so complex now, but it’s worth knowing about and probably getting an accountant. https://cryptouk.io/2022/02/02/hmrc-defi-guidance-2nd-feb-22/

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11.03.2022

Adam · Accepted Answer

Adam

it only counts as selling them if you actually sell them! if the tax software your using showing the transfer to Celsius as a sell then change it manually! and your other question the interest goes in the miscellaneous income section on the UK self assessment your charged capital gain on the interest when you sell the tokens..

0

10.03.2022

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