Who are Recap?
Recap is the UK focused cryptocurrency tax calculation software with end-to-end encryption. We make calculating income and capital gains tax positions relating to cryptocurrencies simple, demonstrated throughout this informative guide. Founder Dan Howitt spent 40 hours calculating his cryptocurrency tax position in November 2017, which was simply not possible on a spreadsheet. There were many cryptocurrency accounting products on the market. Each of them had the approach of requiring all of your cryptocurrency transaction data to give you a tax position โ€“ essentially giving up your financial privacy to crunch the numbers.
You wouldnโ€™t tell people the value of your assets, your bank balance or how much cash you have under the mattress, so why would you tell a software company what cryptocurrencies you hold and your trading patterns? The reason is people donโ€™t have a choice because calculating a tax position and accounting for your cryptocurrency activity is really difficult; many are sacrificing their financial privacy for the sake of tax reporting and to keep compliant with the law. These companies are not regulated, many are not subject to GDPR, and ultimately you donโ€™t know who their employees, contractors or service providers are.
Recap secured with end-to-end encryption allows users to link their exchange accounts and wallets via read-only API connections. Users can also upload CSV files of their transaction history. From there, the platform applies GBP valuations to every transaction and applies HMRCโ€™s tax rules for cryptoassets, including bed and breakfasting and same day rules. It also allows users to account for forks, airdrops, gifts, purchases in cryptoasssets and many other nuances of cryptoasset taxation.
The best part about Recap is the financial privacy it gives you. Recap can never see your financial data because we use end-to-end encryption. Use Recap to manage your taxes, track your portfolio and securely plan your digital wealth.
Copy link