Does my activity fall under personal or business?
This is likely a question that you will need to ask an accountant. However it is important to note that slightly different calculation methods and reporting periods can apply if your cryptocurrency activity is categorised as business rather than personal.
Currently Taxoshi supports FIFO (First In First Out) calculations and we are looking to support other calculation types soon (like Average Price) which may apply to you if your cryptocurrency activity is considered to fall under business.
Questions & Answers
Inland Revenue has released a Questions & Answers article covering their position on cryptocurrency and tax
Inland Revenue is extending its guidance on cryptocurrencies to cover their use in employee share schemes
Scott Mason from Findex unpacks the Inland Revenue guidance on cryptocurrency taxation