Key Features & Benefits of Moonner Tax UK

TAX-UK

Key Features & Benefits:

1. Comprehensive Cost Basis Calculation: Moonner Tax UK accurately calculates the cost basis for each trade, taking into account factors such as the acquired value, fee amount, and transaction type, perfectly aligning with UK tax rules.

2. Cross-Sheet Cost Basis Calculation: This feature facilitates cost basis calculations not just per sheet but also across different sheets, enhancing calculation accuracy and introducing flexibility to your workflow.

3. Crypto Swapping Support: Moonner Tax UK capably handles crypto swapping transactions. When such a trade is entered into the Trading BTC sheet, the software performs two background calculations, resulting in two entries in the TAX-UK sheet - one for the acquisition of the new asset and one for the disposal of the swapped asset.

4. Adherence to UK Tax Regulations: Moonner Tax UK strictly complies with UK tax regulations, particularly regarding crypto-to-crypto transactions, guaranteeing that your tax calculations are accurate and legal.

5. Seamless Functionality Integration: The newly incorporated functionalities blend seamlessly with the existing code, maintaining its ability to calculate cost basis per sheet and execute other relevant calculations effectively.

6. Detailed Tax Rules: Moonner Tax UK applies the Same Day Rule, 30 Day Rule, and Section 104 Rule when disposing of an asset, ensuring accurate cost basis calculations based on the timing of the transactions.

7. Automatic Data Import: TAX-UK efficiently imports transaction data from the "Trading USD" sheet, significantly reducing the time and effort you would otherwise spend on calculating taxes.

8. Currency Conversion: All transaction amounts are converted to GBP using the specified exchange rate, simplifying your understanding of tax obligations in your local currency.

9. Detailed Transaction Display: The TAX-UK add-on neatly organizes your transactions in the TAX-UK sheet, facilitating easy review and analysis of your trades.

10. User-Friendly Design: The code is crafted in a way that it's easy to understand even for users with limited programming knowledge.