HMRC Says 17,600 UK Taxpayers Reported £1.38B in Crypto Gains

According to BlockchainReporter, HM Revenue and Customs published figures on August 27 showing that 17,600 UK taxpayers declared £1.38 billion in taxable cryptocurrency gains for the year ended April 5, 2025. This marks the first time HMRC has broken out crypto gains as a separate category on self-assessment returns. The authority stated that the average taxable digital-asset gain was £78,000, with nearly 90% of reporting taxpayers being men. Furthermore, 240 individuals reported over £1 million each, accounting for £717 million of the total sum.

Looking ahead, HMRC is implementing the OECD’s Crypto-Asset Reporting Framework, with international data sharing expected to start in 2027. This framework will require participating crypto service providers to transmit customer information directly to tax authorities. Meanwhile, HMRC reported that compliance and education activities generated an additional £168 million in capital gains tax during the 2024-25 fiscal year, though the authority did not specify how much originated strictly from cryptocurrency cases. Present figures continue to rely on personal tax returns submitted by individuals.