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hugo7
No. HMRC has some pretty clear guidance.
CGT or IT is paid on conversion to £ only. Vat exempt also.
https://www.gov.uk/government/publications/revenue-and-customs-brief-9-2014-bitcoin-and-other-cryptocurrencies
I believe that in the US you are required to pay tax on trades and also keep records of individual trades. I do the record keeping anyway because I love stats but even so, must be a ballache and I cannot imagine that the IRS has the resources or the knowledge to validate returns.