TAX-UK

TAX-Module

TAX-UK is an add-on option for the Moonner Worksheet that simplifies the tax calculation process for cryptocurrency traders in the United Kingdom. It is designed to automatically import transaction data from the "Trading USD or Trading BTC" Modules, convert values to GBP, and then calculate the tax implications based on UK tax rules.

Key features of the TAX-UK add-on include:

1. Importing transaction data: TAX-UK automatically imports transaction data from the "Trading USD" sheet, saving you time and effort when calculating taxes.

2. Converting values to GBP: It converts all transaction amounts to GBP using the specified exchange rate, making it easier for you to understand your tax obligations in your local currency.

3. Calculating tax implications: TAX-UK determines the tax implications of your cryptocurrency trades using UK tax rules, which include the Same Day Rule, 30 Day Rule, and Section 104 Rule.

4. Displaying transaction details: The add-on provides an organized view of your transactions in the TAX-UK sheet, making it easy to review and analyze your trades.

5. Easy-to-understand language: The code is designed in a way that is easy for users to understand, even if they have limited programming knowledge.

Here's a brief explanation of how the code calculates tax using UK rules:

• Same Day Rule: If a buy and sell transaction occur on the same day, the cost basis of the sell transaction is determined by the buy transaction.

• 30 Day Rule: If a sell transaction occurs within 30 days of a buy transaction, the cost basis of the sell transaction is determined by the buy transaction.

• Section 104 Rule: If neither the Same Day Rule nor the 30 Day Rule applies, the cost basis of the sell transaction is calculated using the average cost of all remaining buy transactions (known as "pooling").

By applying these rules, the TAX-UK add-on calculates the cost basis, gain/loss, and taxable gain for each transaction, making it easier for you to understand your tax obligations.