AirDrop Taxes in the UK: A Comprehensive Guide

Cryptocurrency airdrops are a popular way for projects to distribute free tokens to early supporters, but they can also trigger tax obligations in the UK. This guide explains how airdrops are taxed and what you need to know to report them accurately. HMRC outlines that airdrops are taxable, depending on the circumstances of receiving them. 2 key types of taxation apply: income tax for services rendered or employment-related benefits, and capital gains tax (CGT) when disposing of tokens.