CryptoTax UK · Guide
Crypto Referral Bonus Tax UK — HMRC Guide for 2025/26
Crypto exchanges offer referral bonuses and sign-up rewards in crypto. This guide explains the UK tax treatment of these bonuses. Educational only — not tax advice.
Estimate my crypto tax →Are crypto referral bonuses taxable income?
HMRC's position is that crypto received in return for a service (including referring new customers) is likely treated as miscellaneous income in the year received. The taxable amount is the GBP value of the crypto on the date it is credited to your account.
Sign-up bonuses with no conditions
A bonus received simply for opening an account may be treated as a gift rather than income. The position is not entirely clear — record the value and date regardless.
Disposing of referral bonus tokens
When you later sell or swap tokens received as referral bonuses, you have a CGT event. Your acquisition cost is the GBP value at the time you received the tokens as income.
Frequently asked questions
If I referred a friend to Coinbase and received £10 in BTC, is that taxable?
Probably yes — receiving crypto in return for referring a customer is likely miscellaneous income, taxable at £10 in the year you receive it.
More UK crypto-tax guides
Educational guidance only. CryptoTax UK is not a regulated tax adviser and the information above does not constitute tax, legal or financial advice. Always confirm your specific position with HMRC or a qualified accountant before filing.