Crypto and Web3 accountants.

Crypto and Web3 accountants reconcile on-chain wallets to a general ledger, price every disposal at the moment it happened, and apply pooling rules to tokens that were never bought in a single lot. HMRC treats most cryptoassets as property rather than currency, so each swap, bridge and staking reward is a taxable event with its own valuation.

Crypto accounting was wild west until recently. HMRC has now published clear guidance on crypto-asset taxation, the FCA has registered the major UK crypto businesses under MLR, and accounting standards (IFRS Interpretations Committee, FASB ASU 2023-08) have caught up to the asset class. For UK and US crypto businesses, the regime is now defensible, if you do the work properly.

We work with crypto exchanges and trading desks, DeFi protocols (including DAO-structured organisations), NFT projects and marketplaces, token issuers, Web3 startups building consumer applications, and individual founders / crypto-native operators with complex personal positions. The mechanics vary widely: token treasury management is different from NFT mint income is different from staking rewards is different from token sales, but each is now a real accounting discipline.

For UK businesses, the corporate tax position depends on whether crypto-assets are held as investments (CGT-style treatment), as trading stock (income treatment) or as intangibles (intangibles regime). For most operating businesses it's a mix, and getting the categorisation right at the entity level is essential for defensible reporting. Protocol companies selling software subscriptions alongside token activity should also read our SaaS accountants page, since the revenue recognition question is the same one.

A wallet is not a bank account. It has no statement, no counterparty names and no concept of a period, so the reconciliation has to be rebuilt from transaction hashes. We pull the full history per address per chain, classify each transaction by type (swap, bridge, mint, stake, claim, liquidity add, liquidity remove, gas), then price it at the block timestamp against a consistent source. The classification matters more than the pricing, because a bridge misread as a disposal creates a taxable gain that never happened, and a liquidity withdrawal misread as income creates one twice.

The UK position sits in the HMRC Cryptoassets Manual, which sets out pooling under the section 104 rules, the same-day and 30-day matching rules that follow, and the distinction between trading and investment activity. Most founders assume they hold an investment. A protocol treasury that swaps daily, farms yield and market-makes its own token is closer to trade, and the difference changes the rate, the reliefs and the return it goes on. We take a documented position early rather than defending an assumed one later.

For entities rather than individuals, the reporting question is which standard applies. There is no dedicated cryptoasset standard, so holdings usually fall under intangible assets or, where a business trades them, inventory, with the IFRS Foundation materials and the interpretations committee agenda decisions as the reference point. That choice drives whether unrealised movements hit the profit and loss account or a revaluation reserve, which in turn drives what your investors see. Token issuers raising equity alongside a token should also read our startup finance page, and treasury reporting usually pairs with fractional CFO support. Corporation tax and VAT filings for the operating entity run through our VAT, GST and tax compliance service. The full scope, protocol side and company side, is set out in our full accounting service list.