Terra Classic taxes: How to do your tax declaration in 2025
With Blockpit, you can quickly and easily calculate your Terra Classic taxes and correctly include them in your tax return!
Blockpit is a trusted cryptocurrency tax calculator used by hundreds of thousands of crypto investors worldwide to accurately track and optimize Terra Classic transactions, and calculate gains, losses and income for tax purposes.
Simply sign up for free, import your transaction data and generate your fully compliant crypto tax report for Terra Classic and more than 500,000 other crypto assets, exchanges and wallets in minutes!
Read on to learn everything you need to know about Terra Classic and crypto taxation in the UK!
🤝 Terra Classic is an official Blockpit partner.
#1 Terra Classic Tax Calculator
🏆 Full Terra Classic support
📈 Smart tax optimization and offsetting of losses
🇬🇧 Full support for UK tax regulations
Do I have to pay taxes if I use Terra Classic?
Yes, Terra Classic gains and income are considered taxable transactions by HMRC.
Terra Classic crypto profits are subject to capital gains tax at 18% to 24%, with an annual tax-free allowance of £3,000 for the 2024/25 tax year. Terra Classic income (staking, mining, or services) maybe be taxed as income tax at 0%-45%, depending on total earnings.
Read our complete 2025 guide Crypto Tax UK for more information.
Does Terra Classic automatically deduct taxes?
No, as of 2025, Terra Classic does not automatically deduct taxes for you.
Crypto exchanges only track your transactions on their own platform, not your transfers to other wallets or exchanges. This means crucial information for accurate tax calculations is missing – something only crypto tax tools like Blockpit can provide.
Warning: HMRC knows about your Terra Classic gains!
Terra Classic transactions are publicly recorded on the blockchain, making them fully traceable by HMRC. The tax authority uses advanced tracking methods to monitor crypto activity and enforce tax compliance. Additionally, centralized exchanges report user data to HMRC, increasing the risk of tax investigations.
Failing to report your crypto gains can lead to back taxes, penalties, and interest charges. Use a crypto tax tool like Blockpit to stay compliant and avoid costly mistakes.
Warning: HMRC knows about your Terra Classic gains!
Terra Classic transactions are publicly recorded on the blockchain, and wallets and DeFi activity leave a clear trail. HMRC actively uses blockchain analysis to track transactions and can obtain additional data from centralized exchanges. Enforcement is increasing, and more crypto users are receiving tax notices and back tax demands.
Failing to report your crypto gains can result in fines, interest charges, and HMRC investigations. Stay compliant with a crypto tax tool like Blockpit.
Import Terra Classic transactions into Blockpit
Blockpit offers advanced integrations to process Terra Classic transaction data. Our guide explains how to add the Terra Classic integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select "Terra Classic"
Select Terra Classic from the integration creation dialog
Step 4: Follow the on-screen instructions
You can find a detailed Terra Classic setup guide here: How to import Terra Classic transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our Terra Classic integration in the meantime!
Import Terra Classic transactions into Blockpit
Blockpit offers advanced integrations to process Terra Classic transaction data. Our guide explains how to add the Terra Classic integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select the corresponding blockchain
In the appearing integration creation dialog, select the corresponding blockchain from the list.
Step 4: Follow the on-screen instructions
You can find a detailed Terra Classic setup guide here: How to import Terra Classic transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our Terra Classic integration in the meantime!
Which Terra Classic transactions are automatically imported into Blockpit?
Blockpit auto-labels Terra Classic transaction data based on country-specific gain, loss, and income tax categories, then processes them in alignment with your national tax regulations. As a result, Blockpit can distinguish automatically among these asset classes and Terra Classic transactions:
Assets
✅ Fiat (EUR, USD, CHF, etc.)
✅ Crypto (Coins & Token)
✅ NFTs (NFT Collections)
✅ Commodities (Gold, Silver, etc.)
✅ Derivatives (Tokenized Stocks, Tokenized Commodities, etc.)
Transactions
General
✅ All native transaction types are supported (incl. Governance, Staking, Delegating, etc.)
✅ IBC-Transfers (Inter-Blockchain-Communication Protocol – Bridging)
✅ CW20 Tokens
Swaps (Trades)
✅ Terraswap
✅ Terraswap Clones
✅ + Many more DEXs
NFTs (ERC721)
✅ Mints
✅ Claims
✅ Transfers
✅ Trades
✅ Random Earth Exchange
Liquidity Providing/Mining
✅ Terraswap
✅ Terraswap Clones
Lending
✅ Anchor-Protocol
Staking, Airdrop & Bounty Rewards
✅ Deposits
✅ All transactions provided by Terra Classic
Review Terra Classic transaction data in Blockpit
Blockpit seamlessly merges and organizes your Terra Classic transaction data. Once all data is imported, the following features ensure clarity and assist in verifying data accuracy:
- Identifying unmerged transfers
- Flagging unlabeled transactions
- Highlighting mismatched balances
- Pinpointing potential issues
- Filtering of assets and transactions
- Access to help center guides
For an in-depth overview of Blockpit's review capabilities, refer to: Troubleshooting
What does the Terra Classic tax report look like?
Blockpit's popular Crypto Tax Calculator generates detailed Terra Classic tax reports in PDF format, designed to help you accurately report your crypto taxes to HMRC. The reports include clear explanations to ensure correct filing and have been successfully used by many UK taxpayers.
Each report provides a complete overview of your balances, realized profits and losses, and can serve as proof of origin for banks or tax advisors. It includes all relevant transactions for the selected tax year, detailing timestamps, amounts, assets, costs, and fees.
Check out sample reports for the UK here: Blockpit Tax Report UK
Optimize Terra Classic taxes with Blockpit's Crypto Tax Optimizer
Save an average of 2,395$ in crypto taxes with our tax-loss harvesting tool and unique sell simulator for your crypto portfolio.
With Blockpit’s Crypto Tax Optimizer, you can track unrealized gains, losses, and holding periods for your Terra Classic assets.