To calculate your taxes accurately, Recap needs to see every transaction you've ever made, not just those from the tax year you're reporting. This article explains why, and what can happen if your history is incomplete.
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Crypto tax is calculated cumulatively. When you sell or dispose of an asset, HMRC requires the gain or loss to be calculated based on what you originally paid for it — its acquisition cost. That original purchase may have happened years ago, on a different exchange, or even before you started using Recap.

​Recap uses HMRC's Section 104 pooling rules to track your cost basis across your entire holding history. Every acquisition you've ever made can contribute to the pool. If any are missing, Recap cannot calculate the correct cost, and your capital gains figure will be wrong.
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When Recap can't find the original acquisition for an asset you've disposed of, it flags a missing acquisition error. In this situation, Recap defaults the acquisition cost to zero, meaning your entire disposal amount is treated as a gain.

​This can significantly inflate your capital gains for the tax year, meaning your Capital Gains Report won't reflect your true position. It's worth taking the time to ensure all of your historical data is in Recap before generating your tax report.
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You should connect or import data from every exchange, wallet, or platform you've ever used, even if you:

​For example, if you bought Bitcoin on Kraken in 2019, transferred it to Coinbase in 2021, and sold it in 2023, Recap needs the Kraken history to know what you originally paid. Without it, the disposal on Coinbase will show a missing acquisition.
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Exchanges are not obligated to store your transaction history indefinitely. We strongly recommend downloading your full history from every platform you use, and doing so regularly, before records become unavailable.
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​If you no longer have access to historical data from a platform, try to recover it by: