HMRC reports 240 UK individuals with crypto gains above £1 million

HMRC said 240 people declared more than £1 million each in cryptocurrency capital gains for the year ended April 5, 2025. The 240 declarations totaled £717 million. HMRC said 17,600 people declared taxable crypto disposals for the same year. Almost 90% of those people were men. Total taxable gains from digital assets reached £1.38 billion. The average gain was £78,000 per person. The figures were the first crypto capital gains data HMRC reported separately. Taxpayers reported the figures through a dedicated section of the UK self-assessment return. HMRC has begun implementing the OECD's Cryptoasset Reporting Framework. The framework requires crypto service providers to report customer data to tax authorities. HMRC will start receiving that data in 2027. HMRC said its compliance and education activity generated an additional £168 million in capital gains tax during 2024-25.