# Transfers

![](https://480137433-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FKWUP7MXsIToltg1zTaNA%2Fuploads%2FLzbitvO54NStBRZsQ8u0%2FTransfers.png?alt=media\&token=be5b26be-1907-46b5-8dd9-9df1b243515b)

{% hint style="info" %}
A transfer is a movement of crypto between your own accounts and wallets.
{% endhint %}

## Tax Treatment of a Transfer

A transfer of crypto between your own accounts and wallets is not classified as a disposal and therefore is not a taxable event. It is important to keep a record of all of your transfers in case they are ever wrongly assumed as disposals by HMRC and treated for tax.

{% hint style="warning" %}
Transfer fees are sometimes incurred and may be taxable.
{% endhint %}

## Transfers in [Recap](https://recap.io/)

Recap treats all deposits and withdrawals as transfers between your own accounts. There is therefore no change in beneficial owner and no tax impact. That said there is often a fee associated with withdrawing funds which is technically a disposal for tax purposes. 

![](https://480137433-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FKWUP7MXsIToltg1zTaNA%2Fuploads%2FqrHrNrkuYayYmz1Gr31t%2Frecap-transfer-withdrawal.png?alt=media\&token=7c5ef728-5867-48bc-80b5-2d2882c67dbb)