Recap Review

Recap came out of London in 2019, and you can tell it was built by people who actually deal with HMRC. Most crypto tax software comes from the US and uses FIFO or LIFO - methods that do not comply with UK tax rules. Recap does share pooling properly, which is the only method HMRC accepts for calculating your crypto cost basis. I first tried Recap when I realized Koinly was giving me incorrect figures for my UK return. The difference was significant - we are talking hundreds of pounds in miscalculated gains. Recap lists support for the same-day rule and the 30-day bed-and-breakfasting rule. Confirm their current treatment with HMRC guidance.

Recap's interface is notably clean. No cluttered dashboards. No confusing charts everywhere. Just a clear workflow: connect your accounts, review your transactions, generate your report. Crypto tax software can get overwhelming fast, and Recap keeps things focused on what matters - getting your tax return done. The transaction list is easy to scan, and when something needs attention (like a missing cost basis), it highlights the issue clearly. One limitation: there is no mobile app. Users have to rely on the web version for everything. For a tax tool used once a year, web access may be enough. Mobile access would add convenience.

This is where Recap really earns its keep. The SA108 report it generates is formatted exactly how HMRC expects. The figures transfer directly into Self Assessment without any reformatting. The Capital Gains Summary breaks down disposals clearly - total proceeds, allowable costs, and gains or losses for each asset. It also separates income from staking, airdrops, and mining, which goes on different parts of the tax return. Recap's handling of the 30-day rule is a notable strength. UK rules can require a specific purchase match when you sell and rebuy the same asset within 30 days. Check the current share-pooling rules before filing. Recap catches these automatically, applying the bed-and-breakfasting rule instead of share pooling where required.

Recap provides account access for an invited tax professional. The professional can review transactions, calculations, reports, and recorded adjustments in the same workspace. Confirm plan access and permissions before you share tax records. Recap calculations still need review against your specific facts.

Recap supports around 150 exchanges and 60 wallets, which covers most UK traders. I connected Coinbase, Kraken, and Binance without issues - the API sync pulled in all my historical data within minutes. MetaMask worked through wallet address tracking, though DeFi transactions needed some manual categorization. Here is where Recap shows its UK focus: it works great with exchanges British users actually use. But if you are heavy into obscure altcoin exchanges or complex DeFi protocols, you might find gaps. I had to manually import some transactions from a smaller exchange using CSV. The import worked, but it required matching columns correctly. Not difficult, just an extra step. For most people trading on major platforms, the integrations work well. Power users with dozens of wallets and exotic DeFi positions might want to check the supported integrations list before committing.

Recap pricing is reasonable for what you get. The free tier handles 100 transactions, which is enough to test the software properly before paying. I started on the Basic plan at 69 GBP per year, which covered my needs when I had under 1000 transactions. This year I upgraded to Standard at 119 GBP because my DeFi activity pushed me over the limit. Compared to competitors, Recap sits in the middle. Koinly is slightly cheaper for basic use, but Recap price is worth it if you need UK-specific compliance. The Premium plan at 199 GBP adds NFT support and direct tax advisor access, which some users will need. One thing I like: the pricing is per tax year, not per month. You pay once, get your report, and you are done. No recurring charges if you only need it for annual filing.

Let me be honest about where Recap falls short. First, it only works for UK and Ireland. If you move abroad or have tax obligations in other countries, you will need different software. This is by design - Recap focuses on doing UK taxes well rather than being mediocre at everything. Second, no futures or margin trading support. If you trade derivatives on Binance or other platforms, Recap cannot calculate those gains and losses. Recap may not calculate gains and losses from liquidated positions. Third, no mobile app exists. You are stuck with the web interface. For a tax tool this matters less than a trading app, but checking your portfolio on the go is not possible. Finally, the integration count is lower than global competitors like CoinTracker or Koinly. If you use many obscure exchanges, double-check they are supported before buying a plan.

Recap's listed plans appear below. Prices, transaction limits, and included features can change. Confirm the issuer's current pricing page before you pay.

Plan comparison:

Choose a plan only after you have counted imports, manual adjustments, and any needed reports.

DeFi and NFT activity can create tax events that need classification. Recap lists support for selected on-chain transactions. Review each imported swap, liquidity position, reward, and transfer. Confirm the applicable tax treatment with local guidance or a qualified tax professional.

Recap can produce tax reports from imported transaction data. The report must match your source records and local filing rules. Review cost basis, dates, asset values, and missing transactions before you file.

Recap's workflow requires account setup, data import, transaction review, and report generation. The steps and support options can change. Use a small import first and check the calculated records before you connect every account.

Recap may suit people who can review imported transaction records and understand the applicable tax rules. Skip the tool if its country coverage, supported integrations, report types, or support model does not match your filing needs.

Recap's calculation output depends on complete transaction data and the selected cost-basis method. Review every unresolved item and compare the result with source records before filing. A tax professional can help with complex or uncertain treatment.