Summ (formerly Crypto Tax Calculator) is the top choice for UK investors because it: Complies with HMRC rules, including Bed and Breakfast and Same Day. Handles complex transactions like staking, DeFi, and NFTs. Generates HMRC-ready reports, including SA100 and SA108 forms. Integrates with popular accounting tools like QuickBooks. With automated features and a user-friendly interface, Summ simplifies tax reporting, saving you time and reducing errors. Sign up today to experience the difference!

Yes, Summ is designed to comply with HMRC-specific rules such as the Bed and Breakfast Rule and the Same Day Rule: Same Day Rule: Automatically groups transactions made within the same day and calculates the adjusted cost basis. Bed and Breakfast Rule: Identifies disposals and repurchases within 30 days, adjusting gains or losses accordingly. By automating these calculations, the software reduces errors and ensures your tax reports meet HMRC standards. Generate detailed tax summaries with just a few clicks and save time during tax season.

Yes, Summ (formerly Crypto Tax Calculator) tracks both Income Tax and Capital Gains Tax (CGT). It categorises transactions based on their tax type: Income Tax: Staking rewards, mining income, or payments received in crypto are calculated based on the market value at receipt. CGT: Disposals like selling or swapping crypto are calculated using HMRC’s average cost basis method. Summ simplifies tracking by separating income and capital gains events, ensuring compliance with HMRC rules. It also generates comprehensive reports that include both types of tax liabilities, ready for inclusion in your tax return.

Summ supports a wide range of transactions, including: Trading: Buying and selling crypto on exchanges. Staking: Rewards earned from staking activities. Mining: Income from mining cryptocurrencies. Airdrops: Tokens received through promotional events. NFTs: Buying, selling, and holding non-fungible tokens. DeFi activities: Including lending, borrowing, and liquidity pools. The software identifies taxable events, applies HMRC rules, and calculates both income and capital gains for accurate tax reporting.

Yes, Summ supports retroactive calculations for prior tax years with a single subscription, helping you: Correct missed or inaccurate filings. Report gains and losses from earlier transactions. Carry forward unused capital losses to offset future gains. The software ensures compliance with historical HMRC rules and generates reports tailored to the tax regulations of the relevant year. Whether you're catching up or filing amended returns, Summ simplifies the process.

Summ's business product integrates with popular accounting tools like QuickBooks and Xero allowing you to: Import transaction data directly into your accounting software. Track crypto-related income and expenses alongside traditional finances. Generate consolidated reports for tax filings and business accounting. These integrations streamline bookkeeping for both individual investors and businesses, reducing administrative workload while maintaining compliance with UK tax laws.

HMRC uses advanced tools and methods to monitor crypto activity, including: Exchange data: HMRC requires exchanges operating in the UK to share user data. Blockchain analytics: Sophisticated tools trace transactions across public blockchains. International cooperation: Data-sharing agreements with foreign tax authorities enhance visibility into offshore holdings. Using Summ helps ensure all transactions are accurately reported, minimising the risk of discrepancies or penalties.