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Crypto Tax in the UK — Section 104 Without a Spreadsheet

The UK Section 104 pooling rule is one of the most painful crypto tax calculations to do manually. Here's how the pool works, why share-matching rules trip up most traders, and how to generate an HMRC-friendly schedule without ever opening Excel.

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Crypto Tax in the UK — Section 104 Without a Spreadsheet — EdgeLedger guide guide cover.
3 min Read time
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UK crypto taxpayers face one of the most complex pooling regimes in the world. HMRC's three-layered matching rule — same-day, then 30-day, then Section 104 pool — turns even a small portfolio into a spreadsheet nightmare.

How the matching works

  1. Same-day rule: any disposal is first matched against acquisitions on the same day.
  2. 30-day "bed and breakfasting" rule: remaining disposals are then matched against acquisitions in the next 30 days.
  3. Section 104 pool: everything else is matched against the pooled cost basis of all prior holdings.

Where traders get burned

Most spreadsheet-based calculations skip the same-day and 30-day layers entirely and just average everything into a pool. That's wrong, and if HMRC opens an enquiry, the numbers won't reconcile.

The EdgeLedger tax engine

EdgeLedger's tax engine implements the full three-layer matching for UK Section 104, alongside US specific-ID, Australian 50% CGT discount, Canadian ACB with superficial loss, and German 1-year exemption. Pull in your trades, pick the jurisdiction, and the engine produces a disposal schedule your accountant can actually use.

Export formats

  • Capital gains CSV (HMRC-friendly columns)
  • Multi-section XLSX workbook with filing worksheet, audit trail, and warnings
  • TurboTax TXF (US), CoinTracker CSV, Koinly CSV for software handoff

Tax exports are a Pro / Lifetime feature. See plans.

tax uk section 104 crypto guide
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