Transaction Types and How Recap Treats Them Under the HMRC Setting

Disclaimer: This article is intended as an informative piece. This is not accounting or tax advice. Please speak to a qualified tax professional about your specific circumstances before acting upon any of the information in this article.

This article lists what Recap records for each transaction type when your tax authority is set to HMRC. Which type fits a particular transaction is for you or your accountant to decide.

The types are named as they appear in the Type dropdown on the Activity screen and in Add Transaction. You can change the type of an imported transaction on the Activity screen; we have a guide here: How to reclassify a transaction. Transactions you added yourself are edited directly; see Adding Manual Transactions.

Whatever the type, a fee paid in crypto is recorded as a disposal of the fee amount.

Transaction Type	Description	Recap Tax Impact
Acquisition	An incoming amount recorded as an acquisition where no other type fits. Reclassification only.	Acquisition: Acquisition at zero cost, not market value.
Airdrop	Assets received for free, for example a token airdrop.	Acquisition: Acquisition at market value. You can choose zero cost instead when editing the transaction.
Cashback	Rewards in crypto for spending, for example card cashback.	Acquisition: Acquisition at market value.
Charity Donation	Giving assets to a registered charity.	No gain/no loss disposal: Recap records the disposal with proceeds equal to the allowable cost, so no gain or loss arises. The assets leave your pool.
Collateral	Assets locked as collateral for a loan.	Information only: No tax impact. Nothing leaves your pool.
Collateral Unlocked	Collateral returned after a loan is repaid.	Information only: No tax impact.
Deposit	Transfer of assets into a Recap account.	Movement only: No tax impact. A fee paid in crypto is a disposal of the fee amount.
Disposal	An outgoing amount recorded as a disposal where no other type fits. Reclassification only.	Disposal: Disposal at market value. Generates a capital gain or loss.
Dividend	Assets received as a dividend.	Acquisition: Acquisition at market value. Income Report: The market value is added to the Income Report, listed as Foreign Income.
Fee	A fee paid on its own, for example a network or account fee.	Disposal (if paid in crypto): Generates a capital gain or loss.
Fee Rebate	Reimbursement of transaction fees.	Acquisition: Acquisition at market value.
Futures Loss	Realised loss from futures trading.	Disposal: If the loss is settled in crypto, the crypto paid away is a disposal at market value, which generates a capital gain or loss on those coins. Futures section: The loss is included in the Futures section of the Capital Gains Report. Futures figures are informational and are not included in the capital gains totals.
Futures Profit	Realised profit from futures trading.	Acquisition: If the profit is settled in crypto, the crypto received is an acquisition at market value. Futures section: The profit is included in the Futures section of the Capital Gains Report. Futures figures are informational and are not included in the capital gains totals.
Gambling Spend	Assets wagered or spent on gambling.	Disposal: Disposal at market value. Generates a capital gain or loss on the assets spent.
Gambling Winnings	Assets received as gambling winnings.	Acquisition: Acquisition at market value.
Income	Assets received as income, for example payment for work or a service.	Acquisition: Acquisition at market value. Income Report: The market value is added to the Income Report.
Interest	Interest received, for example on an exchange savings or fiat balance.	Income Report: The value is added to the Income Report. Acquisition: If paid in crypto, the assets are also an acquisition at market value.
Loan Interest	Interest paid on a loan, in crypto.	Disposal: Disposal at market value. Generates a capital gain or loss on the assets paid. The interest itself is not added to allowable costs.
Loan Principal	Assets borrowed.	Acquisition: Acquisition at market value.
Loan Repayment	Repayment of the amount borrowed.	Disposal: Disposal at market value. Generates a capital gain or loss.
Lost	Assets lost through loss of access or a wallet error.	Disposal: Disposal with zero proceeds. The loss recorded equals the acquisition cost.
Margin Loss	Realised loss from margin trading.	Disposal: If the loss is settled in crypto, the crypto paid away is a disposal at market value, which generates a capital gain or loss on those coins. Margin section: The loss is included in the Margin section of the Capital Gains Report. Margin figures are informational and are not included in the capital gains totals.
Margin Profit	Realised profit from margin trading.	Acquisition: If the profit is settled in crypto, the crypto received is an acquisition at market value. Margin section: The profit is included in the Margin section of the Capital Gains Report. Margin figures are informational and are not included in the capital gains totals.
Mining	Assets received as a mining reward.	Acquisition: Acquisition at market value. Income Report: The market value is added to the Income Report.
Network Fork	A new asset received from a permanent fork of an asset you hold, for example BTC to BCH. Manual transactions only.	Acquisition: Part of the original asset's pool cost moves to the new asset, in proportion to their market values on the day of the fork. The original asset keeps its amount with a reduced cost.
Purchase	Goods or services bought with crypto.	Disposal: Generates a capital gain or loss.
Receive Gift	Assets received as a gift from someone other than a spouse or civil partner.	Acquisition: Acquisition at market value.
Receive Gift (Spouse)	Assets received from a spouse or civil partner.	Acquisition: Acquisition at the cost you enter, which is your partner's original acquisition cost rather than market value.
Send Gift	Giving assets to someone other than a spouse or civil partner.	Disposal: Disposal at market value. Generates a capital gain or loss.
Send Gift (Spouse)	Transfer of assets to a spouse or civil partner.	No gain/no loss disposal: Recap records the disposal with proceeds equal to the allowable cost, so no gain or loss arises.
Stake	Staking assets that stay within the account.	Information only: No tax impact.
Staking Reward	Rewards earned from staking.	Acquisition: Acquisition at market value. Income Report: The market value is added to the Income Report.
Stolen	Assets lost to theft, hacking or fraud.	Disposal: Disposal with zero proceeds. The loss recorded equals the acquisition cost.
Trade	Exchanging one asset for another.	Disposal (asset given up): Generates a capital gain or loss. Acquisition (asset received): Acquisition at market value.
Unstake	Unstaking assets that stay within the account.	Information only: No tax impact.
Withdrawal	Transfer of assets out of a Recap account.	Movement only: No tax impact. A fee paid in crypto is a disposal of the fee amount.
Write-off	Assets written off, for example after a delisting, an exchange collapse or a ledger adjustment.	Disposal: Disposal with zero proceeds. The loss recorded equals the acquisition cost.