Terra V2 taxes: How to do your tax declaration in 2025
With Blockpit, you can quickly and easily calculate your Terra V2 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 V2 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 V2 and more than 500,000 other crypto assets, exchanges and wallets in minutes!
Read on to learn everything you need to know about Terra V2 and crypto taxation in the UK!
🤝 Terra V2 is an official Blockpit partner.
#1 Terra V2 Tax Calculator
🏆 Full Terra V2 support
📈 Smart tax optimization and offsetting of losses
🇬🇧 Full support for UK tax regulations
Do I have to pay taxes if I use Terra V2?
Yes, Terra V2 gains and income are considered taxable transactions by HMRC.
Terra V2 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 V2 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 V2 automatically deduct taxes?
No, as of 2025, Terra V2 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 V2 gains!
Terra V2 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 V2 gains!
Terra V2 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 V2 transactions into Blockpit
Blockpit offers advanced integrations to process Terra V2 transaction data. Our guide explains how to add the Terra V2 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 V2"
Select Terra V2 from the integration creation dialog
Step 4: Follow the on-screen instructions
You can find a detailed Terra V2 setup guide here: How to import Terra V2 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 V2 integration in the meantime!
Import Terra V2 transactions into Blockpit
Blockpit offers advanced integrations to process Terra V2 transaction data. Our guide explains how to add the Terra V2 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 V2 setup guide here: How to import Terra V2 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 V2 integration in the meantime!
Which Terra V2 transactions are automatically imported into Blockpit?
Blockpit auto-labels Terra V2 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 V2 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)
Genesis Airdrops & Vesting
✅ Genesis Airdrops
✅ Vesting Airdrops
Staking, Airdrop & Bounty Rewards
✅ Deposits
✅ All transactions provided by Terra V2
Review Terra V2 transaction data in Blockpit
Blockpit seamlessly merges and organizes your Terra V2 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 V2 tax report look like?
Blockpit's popular Crypto Tax Calculator generates detailed Terra V2 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 V2 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 V2 assets.