Official statistics published by HM Revenue & Customs (HMRC) reveal that 240 individuals declared cryptoasset capital gains exceeding £1 million for the 2024 to 2025 tax year. Together, this cohort reported £717 million in total crypto gains.
HMRC Details First Cryptoasset Capital Gains Data
According to figures released by HM Revenue & Customs, a total of 17,600 taxpayers reported taxable capital gains from cryptoassets such as Bitcoin and Ethereum. Disposal proceeds reached £13.8 billion, yielding £1.38 billion in total taxable gains across the UK.
The statistical breakdown indicates that approximately 87% of taxpayers reporting crypto gains were male, while 13% were female. The average gain per reporting individual stood at £78,000.
International CARF Reporting Rules Arrive in 2027
To improve tax compliance, the UK implemented the Cryptoasset Reporting Framework (CARF) in January 2026. Under this international standard, crypto trading service providers will report customer transaction data directly to tax authorities, with HMRC receiving information from 2027.
HMRC warned that non-compliant platform providers face penalties of up to £300 per user. Taxpayers with undeclared gains can utilize the official Crypto Disclosure Service on GOV.UK ahead of Self Assessment filing deadlines.
Main picture: Photo by William McCue on Unsplash
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