If you have taken a massive hit to your Crypto Currency Portfolio over the last financial year, you are likely to be entitled to a write-off or net loss against your regular income for tax purposes. If you are a PAYE taxed individual (meaning you are taxed at source by your employer), this will likely result in a refund from the IRD, depending on your personal circumstances.

You do not have to have sold out your portfolio position in order to attain the loss. If, like most Crypto Currency Traders and Investors, you exchanged between one crypto currency to another crypto currency coin, each “exchange” represents a “Sale” and a “Purchase” for tax purposes.

Here at Geoffrey Black Tax Agency, we are able to assist you when it comes to loss/gains assessments and with filing. Please get in touch with us for further information about this innovative service.