Posting about crypto isn't knowing crypto

Recently I went to a networking event for accountants. When it came to introductions, I said I’m a crypto accountant. Literally the next day, one of the accountants from that room posted about crypto tax.

I’ll be honest, that annoyed me. Not because they shared something. Because of what it suggests.

Two posts in over a year

I had a look at their profile. In over a year of posts, crypto had come up twice.

And this has been one of the biggest years for UK crypto tax and regulation:

• The FCA published its final rules for UK crypto firms.
• CARF, the Cryptoasset Reporting Framework, means HMRC now gets data straight from crypto platforms.
• HMRC published its first ever official crypto tax figures.

Not a word on any of it.

Same post, different logo

Then I noticed something else. The same article, word for word, had appeared on at least three other accounting firms’ websites on the same day. Same headline, same eight points. Just a different logo on each.

To be fair, the content is fine. It’s a summary of HMRC’s own guidance. But that’s the point. Anyone can share it. Sharing it borrows the credibility of a specialist area, without the expertise to back it up.

Crypto tax needs specialist knowledge

Crypto tax isn’t a side topic. It means things like:

• Matching disposals under HMRC’s pooling and 30-day rules
• Working out whether staking, airdrops and DeFi count as income or gains
• Rebuilding records across exchanges and wallets, some of which no longer exist
• Dealing with HMRC nudge letters and voluntary disclosures

Get it wrong and it’s the client who pays the tax, interest and penalties.

What to ask your accountant

If you’re choosing an accountant for your crypto, ask them:

1. How many crypto clients do you work with?
2. Which crypto tax software do you use, and why?
3. How would you treat my staking rewards or DeFi activity?
4. Have you handled an HMRC crypto nudge letter or disclosure?

A good accountant will be happy to answer. A specialist will enjoy it.

And look at their history. Have they been talking about crypto, and the changes that matter, for years? Or did it start last week?

Real expertise leaves a trail.

If you’d like to talk to someone who does this every day, get in touch. Call or WhatsApp 07488 883219, or email contact@swabi.co.uk.

General guidance, not financial or tax advice.

Sources

• HMRC: Check if you need to pay tax when you sell cryptoassets
• FCA: Overview of our cryptoassets regime policy statements