[Feature Request] UK Tax Reporting

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1

Hello,

UK Tax reporting rules require that crypto to crypto transactions, for example BTC-ETH are accounted as two separate transactions, for instance a purchase of ETH using BTC, would be reported as a sale of BTC to GBP and a purchase of ETH using the same amount of GBP. This is because in this example, using BTC to buy something is a disposal hence subject to capital gains tax. Likewise the purchase of ETH is an acquisition.

The CSV reporting in advanced trading seems better than that in CB PRO in as much as it converts the transaction back to GBP, this needed to be done separately in CB PRO, but it doesn’t give the volume of crypto used to make / or proceeds from the transaction, hence you cannot account for it correctly.

Ideally it would be better to list out both sides of the transaction as separate fills, but I am not sure you would be keen.

I note that Crypto to fiat transactions in the report have a notes field with a description of the transaction would it be possible to please include the same for crypto to crypto transactions. So in my example it would be:

“Sold 0.01234 BTC for 0.1234 ETH on BTC-ETH”

Thanks

2

I have the exact same issue. Even better would be to get the Coinbase Pro feature back where you could just get a balance snapshot at a certain date. Once again it seems Coinbase is making the simplest thing as complex as they possibly could.

Such a shame that a company that prides itself on complying with regulations falls so incredibly short when users themselves want to comply with those same regulations.

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3

Also facing this issue with advanced trades. The transactions statements CSV only includes the data for one side of crypto-crypto trades. In the example below, I bought 0.00098638 ETH but as far as I can tell there is nothing in the row (or any other row) that indicates or allows the calculation of the amount of BTC I sold (0.00004997). Similarly the fee is only included in GBP when it was paid in BTC.

2024-04-11 09:30:32 UTC,Advance Trade Buy,ETH,0.00098638,GBP,2859.4626435,2.82,2.84,0.01692310057377318,Bought 0.00098638 ETH for 2.84 GBP on ETH-BTC