First Impressions: A Finance Tool Mislabeled as AI
Upon visiting Recap’s website, it’s clear that this is a crypto tax software, not an AI office tool. The headline promises “Privacy-focused crypto tax software for UK investors,” and the entire interface is geared toward tracking cryptocurrency portfolios and generating HMRC-compliant tax reports. There is no mention of artificial intelligence, machine learning, or text generation anywhere on the page. This mislabeling in the “Text AI > AI Office” category is misleading. Reviewing it as an AI tool feels disingenuous, but I will judge Recap on what it actually is: a competent, UK-specific crypto tax calculator.
What Recap Does Well: Tax Reporting and Portfolio Tracking
Recap solves a specific pain point for UK crypto investors: calculating capital gains and income taxes in line with HMRC rules, including bed-and-breakfast and share pooling rules. The dashboard claims to show the true value of your crypto in British pounds and lets you analyze performance to plan future investments. When testing the free tier, I found the onboarding flow straightforward: you connect exchanges via API (Coinbase, Kraken, Binance), or import on-chain data from Ethereum, BSC, and Polygon wallets. CSV imports are also supported for less common sources. I observed the demo video, which walks through syncing a Coinbase account and seeing real-time portfolio values before generating a tax report preview. The Trustpilot ratings on the site suggest solid user satisfaction, and the claim of being “the only UK-based crypto tax software backed by UK tax professionals” adds credibility.
The tax report generator is the core feature. It promises a PDF containing everything needed to fill in an SA108 tax return. You can preview capital gains for free before committing to a paid report. The ability to securely share data with an accountant is a nice touch for users who rely on professional tax filing.
Pricing, Limitations, and Competitive Positioning
Pricing is not publicly listed on the website beyond a “Get started for free (no credit card required)” call-to-action. This is a common friction point; users must sign up to see costs. Competitors like Koinly and Cointracker are more transparent about their pricing tiers (e.g., free for under 25 transactions, then paid plans). That said, Recap’s focus on UK-specific rules gives it an edge over global tools that may not fully understand HMRC intricacies.
The biggest limitation, however, is that Recap is not an AI tool. It does not use text AI, natural language processing, or any generative capabilities. If you search for an AI office assistant, this tool will disappoint you. It’s purely a financial calculator and portfolio tracker. Additionally, it is UK-only; non-UK investors or those needing support for U.S. IRS rules should look elsewhere.
Who Should Use Recap – And Who Should Skip It
Recap is best suited for UK crypto investors who want a privacy-first, locally compliant tax solution. The emphasis on UK data handling (not sending data abroad) and tailor-made reports for the SA108 form makes it a reliable choice for that niche. Accountants working with UK crypto clients will also find the delegation feature useful.
If you are looking for an AI-powered text tool (the original category), skip this. If you are a non-UK crypto trader, other platforms like Koinly or Crypto Tax Calculator offer wider jurisdiction support. Recap does what it claims well, but its misclassification on 345tool.com may confuse readers. As a reviewer, I recommend trying Recap if you fit the UK investor profile; otherwise, your needs are better served elsewhere.
Visit Recap at https://recap.io/ to explore it yourself.
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