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Emma - CoinTracker
Feature Request:Allow non-taxable Tax Treatment for Gift Transactions in the UK
What is being requested?
UK users tagging transactions as 'Gift' should have the option to apply correct tax treatment. Specifically:
  • Gifts to spouses
    should be tax-free and allow for doubling the tax-free allowance.
  • Gifts to charities
    should also be tax-free.
There is no option to modify transactions in this way for UK users.
This should be available to align with the guidance provided in the UK Cryptocurrency Tax Guide.
Why is this needed?
Currently, all transactions tagged as 'Gift' trigger capital gains tax calculations for UK users.
Implementing a feature to mark as non-taxable would improve compliance with UK tax regulations allowing users to indicate if it is a non-taxable gift and reduce the need for manual adjustments.
What can users do now?
Users must manually adjust their tax reports to exclude these transactions or consult with a tax professional to ensure compliance.
Keywords: UK tax, gift transactions, capital gains, spouse gifts, charity donations