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.
Important: These are calculations, not recommendations. They show how a possible sale or repurchase would change the capital gains figures Recap has calculated from your data and today’s prices. Whether to act on any of them is your decision; if you’re unsure, check with a tax adviser before you act.
The Tax Planning screen shows how selling assets you hold would change the capital gains figures Recap has calculated for the current tax year, based on today’s prices and the data in your account. It also lists recent disposals still inside HMRC’s 30-day matching window. It is available for HMRC personal portfolios, from Tax Planning in the sidebar.
Nothing on this screen changes your data. Every figure is a simulation based on your transactions and current market prices, so it is only as accurate as your data. For your actual totals and reports, see our guide to the Tax Screen.
The summary cards
Net gains - realised gains minus realised losses from disposals made in this tax year, with the two parts shown underneath. Your cost basis can go back years, but only this tax year’s disposals produce the figure.
Annual exemption remaining - how much of the annual exempt amount (the tax-free allowance) is left after Recap’s net gains figure.
Your inputs - your Non-cryptoasset income (such as salary), which Recap uses to decide whether the estimate applies the basic or higher rate, and any Carry forward losses from earlier years. Click the pencil icon to edit either.
Estimated CGT liability - Recap’s estimate of the capital gains tax on the net gains above, using your inputs, and the date it would be due.
The top of the screen also shows how many days are left in the tax year. For 30 days after a tax year ends, you can switch back to it with the link next to the title.
The opportunities list
Recap calls each row an opportunity. Each one shows:
Asset
Possible action - the change the row models, such as “Can be sold to realise a loss”
Type
Max net gains change - how much your net gains would go up (+) or down (-) if the whole holding were sold or bought back
Max CGT impact - the matching change to your estimated CGT
Use the tabs to filter the list. A greyed-out tab has nothing in it.
Losses and Gains - assets you still hold with an unrealised loss or gain, based on their pool cost and current market price.
Active B&B - assets you have disposed of in the last 30 days. If the same asset is acquired again within 30 days, HMRC’s bed and breakfast rule matches the new acquisition to that disposal and changes its gain or loss. You can read more about the rule here.
Cleared B&B - assets disposed of between 30 and 59 days ago. The 30-day window after the disposal has ended, so a new acquisition of that asset would not be matched to it.
Low value - holdings now worth less than 1% of what they cost. Recap lists these because a negligible value claim can apply to an asset that has become worth next to nothing; whether a claim is available for any of yours is a question for you or your accountant (see Can I claim loss relief from HMRC if my cryptocurrency has lost all value?). Assets with no market price appear here as Unpriced, which usually means a valuation needs checking.
NFTs - NFTs you hold that are showing an unrealised loss.
Reading an opportunity
Click a row to open it. For an asset you hold, you will see a Disposal amount slider and these figures:
Current net gains - your net gains for the tax year as they stand, the same figure as the Net gains card.
Net gains after disposal - your net gains for the tax year if you sold the amount selected on the slider. The figure in grey brackets beside it is the change that sale would make.
Current CGT and CGT after disposal - Recap’s estimated capital gains tax now, and after the modelled sale, with the change in grey brackets.
For example, if your net gains are £10,000 and selling an asset would realise a £4,000 loss, Net gains after disposal shows £6,000 (-£4,000).
Active B&B opportunities work the same way but show a Reacquisition amount slider instead, with the effect of buying the asset back inside the window.
Gains are shown in green and losses in red, in brackets - for example (£85,000).
The smaller grey figures in brackets show a change and always carry a + or - sign.