If you have transactions with missing acquisition costs, this can lead to artificially higher gains on future disposals of crypto assets. It’s important to review any acquisitions with a zero cost and ensure that this is accurate.
Start by going to the Tax screen, selecting the appropriate tax year card, and opening the Acquisitions Report.
In the Section 104 pool side of the report, look for entries where a token shows a Quantity Added but has a Cost Added (£) value of 0. These are potential missing acquisition costs.
Make a list of these transactions to revisit later.
Next, go to the Activity screen, locate each transaction, and review the Tax and Prices tabs to check if the acquisition costs have been correctly calculated.
Potential causes and how to fix
Failed to Value Error
A "Failed to Value" error occurs when Recap is unable to value a transaction, typically due to an unidentified asset or a lack of pricing information from our data providers.
To resolve this, follow these steps:
Ensure Asset Identification:
Begin by confirming that all assets are correctly identified using our Unidentified Assets guide. Resolving unidentified assets can often clear multiple "Failed to Value" warnings.
Check for Valuation Issues:
If the asset is correctly identified, the issue is likely with its valuation. From the Activity screen, click on the problematic transaction and check the Prices tab for red warning flags.
Contact Support:
If you see a Failed or No Prices flag, please contact support for further investigation. This may be due to insufficient data from our pricing providers or an asset mapping issue.
You can manually set token prices by clicking the blue Edit text next to the warning flag. Enter the GBP value for one token, then press the blue Save text.
This will manually value the transaction and remove the "Failed to Value" flag.
Finally view the Acquisition Report to check that the transaction now has a Cost Added (£) figure.
The Cost Added (£) is less than £0.01
Sometimes the the value of the acquisition costs will be less than £0.01 and will therefore show as £0. In this case you do not need to take any action.