UK crypto investors declared £1.38B in gains, but half came from just 240 people
HMRC has disclosed £1.38 billion in reported UK crypto beneficial properties, with just 240 investors accounting for greater than half.
The figures mark the primary time HM Revenue & Customs has revealed crypto-specific Capital Gains Tax data, giving the company a proper baseline earlier than new reporting guidelines start supplying it with info immediately from crypto suppliers.
For the 2024 to 2025 tax yr, 17,600 people reported £13.8 billion of cryptoasset disposal proceeds and £1.38 billion of beneficial properties. Of that whole, 240 people who every reported greater than £1 million in beneficial properties accounted for £717 million.
The information comes from a devoted crypto part added to Self Assessment returns. It subsequently captures declared Capital Gains Tax-liable disposals somewhat than each crypto transaction in Britain and can’t present how a lot exercise went unreported.
HMRC is constructing a second information path
That limitation is about to slim because the UK implements the OECD’s Cryptoasset Reporting Framework.
Crypto companies coated by CARF started accumulating buyer and transaction information in January 2026, whereas HMRC expects to start out receiving supplier studies in 2027.
The change will give the tax authority a separate dataset alongside taxpayers’ personal declarations, rising its means to establish discrepancies between reported beneficial properties and exercise recorded by crypto platforms.
The reporting timetable doesn’t delay present tax obligations. Crypto homeowners with reportable beneficial properties or revenue for the 2025 to 2026 tax yr should nonetheless file their Self Assessment return and pay tax due by Jan. 31, 2027.
HMRC individually estimated that its crypto compliance and schooling work generated £168 million of extra Capital Gains Tax throughout 2024 to 2025.
The capital-gains figures additionally exclude another crypto-related tax liabilities, together with revenue from employment, mining, staking and lending, which may fall below Income Tax guidelines as a substitute.
The new statistics subsequently present HMRC with a declared baseline earlier than standardized third-party reporting begins. From 2027, the company will more and more have the ability to evaluate what crypto investors say they earned with what platforms say they did.
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