HMRC Reports £1.38 bn in UK Crypto Gains, 240 Investors Account for Over Half

HM Revenue & Customs (HMRC) has released its first crypto‑specific Capital Gains Tax (CGT) data, showing that UK investors reported £1.38 billion in crypto gains for the 2024‑25 tax year.

Key figures

• 17,600 individuals filed Self Assessment returns that included crypto disposals.
• Total reported disposal proceeds: £13.8 billion.
• Total reported gains: £1.38 billion.
• 240 investors who each reported more than £1 million in gains accounted for £717 million (just over half of the total gains).

Scope of the data

The figures come from a dedicated crypto section on Self Assessment returns, capturing only disposals that are liable for CGT. They do not represent every crypto transaction in the UK and cannot reveal unreported activity.

Future reporting framework

HMRC will soon receive a separate data stream from crypto providers under the OECD’s Crypto‑Asset Reporting Framework (CARF). Crypto businesses began collecting customer and transaction data in January 2026, and HMRC expects provider reports to start arriving in 2027. This will allow the tax authority to cross‑check taxpayer declarations against platform records.

Tax compliance impact

HMRC estimates that its crypto compliance and education efforts generated an additional £168 million of CGT in 2024‑25. The reported gains exclude other crypto‑related tax liabilities such as income from employment, mining, staking and lending, which fall under Income Tax rules.

What’s next for taxpayers

Existing tax obligations remain unchanged. Crypto owners with reportable gains or income for the 2025‑26 tax year must file their Self Assessment return and pay any tax due by 31 January 2027.