Hi,

In the tax year just gone I have made around £40,000 via gambling on crypto betting websites. £30,000 of this I have converted into GBP and withdrawn from my crypto wallet to my bank account.

Two questions:

1) Do I need to pay any CGT on this (my profits from the general appreciation of crypto is minimal - less than £500)

2) If I don’t need to pay tax due it being gambling winnings rather than crypto profit, how do I prove this. A lot of my betting accounts have been closed (and therefore I cannot login to them) thus making it hard for me to prove to HMRC that my transactions have come from gambling winnings.

Thanks