CryptoTax UK · Guide
How to do your crypto tax for Kraken in the UK
Kraken is one of the most popular crypto exchanges among UK investors — and HMRC taxes every trade, swap and staking reward you earn on it. This guide explains exactly how Kraken activity is taxed under UK rules and how to get your numbers right for Self Assessment. Educational only — not tax advice.
Import my Kraken history and calculate →Kraken spot trades: Capital Gains Tax
Every time you sell a cryptocurrency on Kraken for GBP, or swap one crypto for another, HMRC treats it as a disposal. You pay Capital Gains Tax on the gain — the difference between what you paid for the asset and what you received on disposal, converted to GBP at the time of the trade. Your annual £3,000 CGT allowance applies to your total net gains across all exchanges for the year, not just Kraken.
Kraken Staking rewards: Income Tax
Kraken offers staking on assets including ETH, DOT, ADA and others. Rewards earned through staking are treated by HMRC as miscellaneous income at the GBP value when they are credited to your account. You pay Income Tax on this amount at your marginal rate. The staked rewards then acquire a cost basis equal to the income declared, which matters when you later sell them.
Kraken Futures and margin trading
Kraken offers futures and leveraged trading products. HMRC's position on crypto derivatives is that profits are subject to CGT in most cases for private investors — but frequent, professional futures trading could be classified as trading income. Contracts for Difference (CFDs) are specifically treated differently. If you use Kraken's derivatives products, the tax treatment can be complex and professional advice is recommended.
Downloading your Kraken transaction history
To calculate your tax accurately, you need your complete Kraken transaction history. In Kraken: go to History → Export → select 'Ledgers' and choose the full date range covering your activity. Download the CSV file. This will include all trades, deposits, withdrawals, staking rewards, and fees. Import this into CryptoTaxUK to calculate your gains, losses and income automatically.
Common Kraken tax mistakes UK investors make
The most common errors include: forgetting to convert all values to GBP (not USD) at the time of each trade; treating staking rewards as non-taxable until sold; failing to match trades across Kraken and other exchanges in the same Section 104 pool; and missing the 30-day bed and breakfast rule when buying back assets shortly after selling on Kraken.
Frequently asked questions
Does Kraken report my data to HMRC?
Yes. Kraken is registered as a cryptoasset business with the FCA and has shared UK user data with HMRC since at least 2019. From January 2026, CARF requires Kraken to report all UK user transaction data to HMRC automatically each year.
I traded on Kraken Pro — is the tax treatment different?
No — Kraken Pro is simply the advanced trading interface for the same exchange. The tax treatment of trades executed on Kraken Pro is identical to standard Kraken trades. The lower fees on Pro reduce your allowable costs slightly but do not change the fundamental tax analysis.
Can I use Kraken's own tax reports for HMRC?
Kraken provides transaction exports but does not produce HMRC-formatted tax reports. The raw CSV needs to be processed through a UK crypto tax calculator that applies HMRC's specific matching rules — same-day, 30-day bed and breakfast, and Section 104 pool — which Kraken's own exports do not do automatically.
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Import my Kraken history and calculate →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.