Solana GuidesBest Crypto Tax Software for Solana DeFi (UK 2024-25)
Awaken.Tax is the best crypto tax software for Solana DeFi users in the UK. From my testing, it’s the only platform that correctly classifies LP positions, yield farming rewards, and meme coin trades without hours of manual corrections.
I spent weeks testing every major tax platform trying to find one that could handle my Solana wallet – 20,000+ transactions across Jupiter, Meteora, Kamino, and too many meme coins to count. Most failed. One labelled 80% of my transactions as “unknown.” Another crashed entirely.
Awaken got 99% of my transactions correct on first import. Here’s the full breakdown of what I tested and why Awaken won
On this page
Rating: 4.5★ (Awaken.Tax – Top Pick)
| Quick Stats | |
|---|---|
| Best For | Heavy Solana DeFi users |
| Price Range | Free – $749 |
| UK Deadline | 5 April 2025 |
| Top Pick | Awaken.Tax |
Why Solana DeFi Breaks Most Tax Software
Most crypto tax software was built for simple trading: buy on Coinbase, hold, sell. That’s easy.
Solana DeFi creates hundreds of complex transactions that standard software can’t parse:
LP Positions – When you provide liquidity on Meteora or Orca, you’re depositing two tokens, receiving LP tokens, earning fees continuously, and withdrawing a different ratio. Most software treats this as “unknown.”
Yield Farming – Protocols like Kamino and marginfi generate constant micro-rewards. Each claim is a taxable event. The question is: income or capital gains? Software needs to classify correctly.
Meme Coins – That pump.fun token you aped at 3am? There’s probably no price data for it. Software without CoinGecko or Jupiter API integration will leave gaps.
Protocol Recognition – A Jupiter swap looks completely different on-chain than a Uniswap swap. Tax software needs Solana-specific parsers to classify transactions correctly.
Platform Reviews
Awaken.Tax – Best for Solana DeFi
My Pick
| Stats | |
|---|---|
| Price | Free (<365 tx), $199 (1,500 tx), $749 (unlimited) |
| Solana Support | Native parsing |
| UK Support | Yes (50+ jurisdictions) |
| Users | 25,000+ |
Awaken.Tax is built specifically for Solana and on-chain transactions. It auto-classifies Jupiter, Meteora, Kamino, marginfi, Orca, and Magic Eden without manual tagging.
What I Like
From my testing, Awaken handled my entire portfolio with minimal manual work. LP entries and exits were tracked correctly. Yield farming rewards were classified as income. Even obscure meme coins were priced using CoinGecko’s API.
The tax-loss harvesting tool is genuinely useful. It shows which positions are currently at a loss, so you can strategically sell before April 5th to offset gains. With only £3,000 of tax-free allowance this year, this matters.
What Could Be Better
It’s the most expensive option. And as a newer platform, it has less track record than Koinly or CoinTracker.
Verdict: Best choice if you’re deep in Solana DeFi. The accuracy saves hours of manual corrections.
Koinly – Best for Exchange Traders
| Stats | |
|---|---|
| Price | $49 (100 tx) – $279 (10K tx) |
| Solana Support | Good, some manual work |
| UK Support | Yes |
| Users | 500,000+ |
Koinly is the most popular crypto tax software with half a million users. It supports 170+ blockchains and 7,200 DeFi protocols.
What I Like
For exchange-based trading, Koinly is excellent. Connect Coinbase, Kraken, or Binance and it imports everything correctly. The interface is clean and the UK tax reports are properly formatted.
What Could Be Better
For Solana DeFi specifically, I found about 30-40% of my transactions needed manual categorization. Jupiter perps need manual tagging. Wallets over 100K transactions may not fully sync. Solana NFTs require manual input.
Verdict: Great value if you mainly trade on CEXs with some Solana on the side. Not ideal for heavy DeFi users.
CoinTracker – Good Solana Update
| Stats | |
|---|---|
| Price | $59 (100 tx) – $1,999 (100K tx) |
| Solana Support | Recently improved |
| UK Support | Moderate |
| Users | Large |
CoinTracker recently revamped their Solana support, partnering with Phantom and Solana Foundation.
What I Like
The updated Solana integration is genuinely good. It auto-classifies Jupiter, Meteora, Kamino, and most major protocols. Clean interface, solid Coinbase integration.
What Could Be Better
Gets expensive fast – $599 for 10,000 transactions, $1,999 for 100,000. Priority support only on the $599+ tier. UK support exists but isn’t as specialized as Recap.
Verdict: Solid option, especially for Coinbase users. Similar price to Awaken at higher transaction counts.
Recap – Best for UK Compliance
| Stats | |
|---|---|
| Price | Free preview, paid export |
| Solana Support | Limited automation |
| UK Support | Excellent (UK-built) |
Recap is the only crypto tax platform built specifically for UK users. It was reviewed and approved by Andersen LLP.
What I Like
HMRC compliance is airtight. Section 104 pooling, same-day rules, 30-day bed and breakfast rules – all handled correctly. Zero-knowledge encryption for privacy. Reports are designed to withstand HMRC enquiries.
What Could Be Better
Limited native Solana DeFi automation. You’ll likely need to import via CSV rather than direct wallet sync for complex DeFi activity.
Verdict: Best choice if UK compliance is your absolute priority and you have a simpler portfolio.
Budget Option: Stake.Tax + Recap
If you’re on a tight budget:
- Use Stake.Tax to export Solana transactions as CSV (free)
- Import the CSV into Recap for UK tax calculations
The catch: Formatting can be painful. Users report compatibility issues. No automatic protocol recognition. You’re doing manual reconciliation.
Verdict: Only if you have patience and a relatively simple portfolio.
Comparison Table
| Feature | Awaken | Koinly | CoinTracker | Recap |
|---|---|---|---|---|
| Solana DeFi | Excellent | Good | Good | Limited |
| LP Tracking | Automatic | Manual | Partial | Manual |
| Yield Farming | Automatic | Partial | Partial | Manual |
| UK Compliance | Good | Good | Moderate | Excellent |
| Price (1K tx) | $199 | $99 | $199 | Check site |
| Best For | DeFi users | CEX traders | Coinbase users | UK compliance |
Quick Start: Filing Your Solana Taxes
Step 1: Choose Your Software
Pick based on your portfolio:
– Heavy Solana DeFi → Awaken.Tax
– Mainly CEX trading → Koinly
– UK compliance priority → Recap
Step 2: Connect Your Wallets
Link your Phantom, Solflare, or Backpack wallet. Most platforms sync directly from the blockchain.
Step 3: Import Exchange Data
Add any CEX transactions (Coinbase, Kraken, Binance) via API or CSV.
Step 4: Review Flagged Transactions
Check any transactions marked for manual review – usually airdrops that need classification as income.
Step 5: Generate Your Report
Download your capital gains report formatted for HMRC Self Assessment.
→ Start with Awaken.Tax (Referral link)
Fee Structure
Awaken.Tax
- Free: Under 365 transactions
- $199: Up to 1,500 transactions
- $749: Unlimited transactions
- Includes all past tax years
Koinly
- $49: Up to 100 transactions
- $99: Up to 1,000 transactions
- $179: Up to 3,000 transactions
- $279: Up to 10,000 transactions
CoinTracker
- $59: Up to 100 transactions
- $199: Up to 1,000 transactions
- $599: Up to 10,000 transactions
- $1,999: Up to 100,000 transactions
UK Tax Basics (2024-25)
Quick reference for what you owe:
Capital Gains Tax
– Basic rate: 18%
– Higher rate: 24%
– Tax-free allowance: £3,000
Taxable Events
– Selling crypto for GBP
– Swapping crypto for crypto
– Spending crypto
– LP entry and exit
Income (Taxed Differently)
– Staking rewards
– Yield farming rewards
– Airdrops
Key Deadlines
– Tax year ends: 5 April 2025
– Filing deadline: 31 January 2026
FAQ
Which crypto tax software is best for Solana?
Awaken.Tax is the best for heavy Solana DeFi users. It has native parsing for Jupiter, Meteora, Kamino, and other major protocols. Koinly is good for simpler portfolios.
How much does crypto tax software cost in the UK?
Prices range from free (Awaken under 365 transactions) to $749 (Awaken unlimited). Koinly starts at $49. Most users with active DeFi portfolios will pay $100-300.
Do I need to pay tax on every crypto swap?
Yes. In the UK, swapping one crypto for another is a taxable disposal. Each swap triggers capital gains calculations. This is why tax software is essential for DeFi users.
Can I use free crypto tax software?
Awaken.Tax is free for portfolios under 365 transactions per year. Recap offers free portfolio tracking with paid report exports. Stake.Tax is free for CSV exports. For heavy traders, paid software is worth it for accuracy.
What happens if I don’t report crypto taxes?
HMRC is increasing crypto enforcement. From 2026, UK crypto platforms must report user data to HMRC. Getting your taxes right now avoids penalties and interest later.
Verdict
Heavy Solana DeFi users: Go with Awaken.Tax. Yes, it’s expensive. But the accuracy saves hours of manual work and gives you confidence your calculations are correct. The tax-loss harvesting tool alone can save more than the software costs.
CEX traders with some DeFi: Koinly at $99-179 is great value. Solid UK support, clean interface, handles exchanges perfectly.
UK compliance priority: Recap if you want HMRC-specific features and have a simpler portfolio.
Budget option: Stake.Tax + Recap combo works, but expect to spend time on manual formatting.
Don’t wait until April. Tax software gets slow when everyone’s rushing to file.
→ Start with Awaken.Tax (Referral link)
Disclosure: This article contains referral links. I use and recommend Awaken.Tax based on my own testing.
Related Guides
Not financial advice. I explain how these tools work and what they cost me; check the details yourself before moving money. Last reviewed .
I use Solana daily and provide liquidity on Meteora. These guides come from what I do myself; drafts are AI-assisted and I check every one. More about me · X · YouTube