UK crypto investors declare £1.38B in gains, half from 240 people

HM Revenue & Customs disclosed £1.38 billion in declared UK crypto gains for the 2024 to 2025 tax year. About 17,600 individuals reported £13.8 billion in cryptoasset disposal proceeds. The 240 investors who each reported more than £1 million in gains accounted for £717 million. The figures came from a dedicated crypto section in Self Assessment returns. The data covers declared Capital Gains Tax-liable disposals rather than every crypto transaction in Britain. It cannot show how much activity went unreported. Crypto businesses covered by the OECD's Cryptoasset Reporting Framework began collecting customer and transaction information in January 2026. HMRC expects to start receiving provider reports in 2027. The reports will give HMRC a separate dataset for comparing taxpayer declarations with activity recorded by crypto platforms. Tax obligations for the 2025 to 2026 tax year remain unchanged. Crypto owners with reportable gains or income must file their Self Assessment return and pay tax due by Jan. 31, 2027. HMRC estimated that its crypto compliance and education work generated £168 million in additional Capital Gains Tax during 2024 to 2025. The capital-gains figures exclude some crypto-related liabilities, including income from employment, mining, staking and lending, which can fall under Income Tax rules.