NFTs (Non Fungible Tokens)

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How are NFTs taxed?
The only mention of NFTs in the HMRC guidance is one line stating: 
‘Non-Fungible Tokens (NFTs) are separately identifiable and so are not pooled.’ 
Therefore the normal ‘share matching’ and pooling rules to calculate the capital gains on the disposal of other (fungible) cryptoassets are not relevant to NFTs.
Whilst there is no guidance from HMRC, it seems clear that their disposal is most likely going to be taxed under the capital gains tax regime. The only exception to this would be if the individual is ‘financial trading’ in NFTs and the activity is more akin to a business.
As each NFT is unique, when calculating a capital gain or loss on the disposal of an NFT, the actual acquisition cost for the NFT being disposed of is deducted from the disposal proceeds.
However, there are complexities when NFTs are acquired in bundles (ie gaming characters or items). Where the bundle acquired is disposed of piecemeal, a part disposal calculation is required to apportion the acquisition cost of the part of the bundle being sold against the disposal proceeds.

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