# Solana (SOL) explained for UK holders

SOL is a cryptoasset for UK tax. Staking rewards may be income; selling or swapping SOL triggers CGT calculations. Keep on-chain transaction records.

## Key facts
- Solana supports many tokens and NFTs on its own chain.
- On-chain activity may not appear on centralised exchange statements.
- Network outages have occurred — understand custody and technical risks.

## Solana ecosystem

Developers build decentralised applications on Solana. SOL pays transaction fees and secures the network through staking validators.
## Tax and record-keeping

Export wallet history for HMRC records. Each token swap on Solana decentralised exchanges is likely a disposal for CGT.

## FAQs
### Do I need Self Assessment for Solana DeFi?

If you have taxable gains or income, yes — complexity increases with on-chain activity.

## Sources

- [HMRC — Cryptoassets Manual](https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual)

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— Digital Assets UK (https://digital-assets.co.uk/assets/solana/), reviewed 2026-06-23. Source: https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual