This guide will teach you how to calculate Revolut taxes using our automated tax software.
Revolut is an investment platform that gives users access to various financial instruments, including crypto, stocks and lending. With a wide range of opportunities to profit, it is essential to get your taxes right. The easiest and safest way to do this is with Cryptiony.
The first step to calculating your Revolut taxes is to export your transactions from the platform. Once you have done this, you have three main options:
We recommend using Cryptiony because it is designed specifically for calculating crypto taxes. There are a lot of nuanced rules relating to crypto tax, which even most accountants need to be more aware of. This makes Cryptiony the safest bet, not to mention it’s affordable and fast!
To start with Cryptiony, you should import your transactions from Revolut into our platform. To do this, you will first need to visit the Revolut site and download your transaction files.
How to Download Revolut Transactions
Log into your Revolut account.
Click crypto, then select any crypto investment.
Next, select statement, then the excel tab.
Enter your date range and click generate, then download.
Repeat for every cryptocurrency you have bought or sold.
How to upload Crypto.com transactions to Cryptiony
Log in to Cryptiony.
From the dashboard, select transactions, then add transactions.
Click integrate the exchange on the top right of the screen.
Select Revolut, then import the transaction file.
Select your Cryptiony transactions CSV files and hit import.
The Revolut application does not currently provide a transaction API, so you should import your transactions as a CSV.
Revolut does not have an agreement with HMRC to report taxes. Nonetheless, if HMRC launches an investigation into someone and requests your financial data, Revolut will hand it over.
Revolut is a regulated and compliant company, and any attempt to avoid taxes could result in prosecution. Instead, you could use legal techniques to reduce your taxes, like maximising tax-free income and earning more profits attributed to Capital Gains rather than Income Tax. To learn more about how the different forms of crypto tax work. Check out our crypto tax guide.
Yes, Revolut requires personal information to verify your identity to comply with anti-money laundering (AML) regulations.
Any profits earned through activity on the Revolut platform should be reported to the relevant tax authority. To make things easier, we recommend using automated accounting software such as Cryptiony.
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