Celo - Cryptiony - crypto tax automation solution

How to File Your Celo Taxes With Cryptiony

Celo, a mobile-first, carbon-negative blockchain with low transaction fees, is quickly gaining popularity and exciting new use cases. In this guide, we will show you how to file your Celo taxes in just a few steps.

What is Celo?

Celo is a mobile-first, carbon-negative blockchain with low gas fees and EVM compatibility. Having handled over 200 million transactions across 22 million wallets, Celo aims to be the number one blockchain payments network for mobile by enabling payments to be sent to and from any phone number worldwide.

How do I calculate taxes on Celo transactions?

Manually calculating crypto taxes can be a tiresome experience. The amount of transactions and regulations that must be considered means doing them yourself or hiring an accountant is usually impractical and expensive.

We created Cryptiony to pull your transactions from the blockchain and automatically generate a tax report based on up-to-date tax regulations. Our automated software is the cheapest, easiest and most secure way to calculate your Celo taxes.

How to Import Celo transactions to Cryptiony

The first step in generating your Celo tax report is importing your Celo transactions to Cryptiony. Follow the steps below to get started.

Ensure you have your wallet address on hand before jumping in. You can find this on your wallet home page or by clicking “receive crypto” on your wallet dashboard (it is the long alphanumeric number starting with 0x).

Step 1

Step 2

From the Cryptiony dashboard, click transactions, then connect the wallet. .

Step 3

Select Celo, then name the wallet and input your wallet address.

Step 4

Select connect wallet.

Important things to know about importing Celo transactions

To ensure we attribute all your transactions to the correct taxes, sync all your wallets and exchanges.

Although our software is accurate, it’s always best to double-check that all your transactions have been imported correctly. You can do this by clicking taxes on the left navigation bar, scrolling to the bottom of the summary and selecting the transaction list. Then you can ensure all your transactions are included and attributed correctly.

If your transactions have not been imported correctly, please visit our help centre.

FAQs

Do I owe taxes on Celo income in the UK?

Yes, if you have received payments on the Celo network for goods or services, you will likely owe Income Tax on its fair market price from when you receive it. Moreover, you will owe Capital Gains Tax if you have made any disposals on the blockchain and generated a profit. In our UK crypto tax guide, you can learn more about how the different types of taxes apply to crypto.

How do I report my Celo crypto taxes?

Once you have imported your transactions to Cryptiony, visit the taxes section and click “generate a tax report”. Then attach this report to your HMRC Self Assessment sheet and submit it.

Do I owe taxes on Celo validator rewards in the UK?

Under HMRC guidelines, crypto earned as rewards for mining and staking is subject to Income Tax. However, you can usually offset some of your earnings against allowable expenses such as overheads or equipment.