Yes. In the UK, HMRC regard trading one cryptoasset for another as a taxable disposal liable for capital gains tax.
You must calculate the capital gain (or loss) on each individual disposal throughout the tax year. If the total gain exceeds the annual CGT exemption, this should be declared on the self assessment tax return and submitted to HMRC. Find out more in The Recap Crypto Tax Guide for UK Individuals.
This is not accounting or tax advice that can be relied upon for any UK individual’s specific circumstances. Please speak to a qualified tax advisor about your specific circumstances.
*All of the sources used in the linked guide are either published by HMRC or the professional opinion of a professional UK tax advisor.
