UK crypto investors declared £1.38B in gains, but half came from just 240 people

According to reporting by CryptoSlate, HM Revenue & Customs released its first crypto-specific tax figures, revealing that 17,600 taxpayers reported £1.38 billion in capital gains from cryptoasset disposals during the 2024 to 2025 tax year. Out of this total, just 240 investors who each reported over £1 million in gains accounted for £717 million, meaning more than half of all declared gains belonged to this small group. CryptoSlate reported that the data originates from a dedicated crypto section on Self Assessment returns, capturing declared Capital Gains Tax-liable disposals rather than total transactions or unreported activity.

CryptoSlate noted that HM Revenue & Customs is preparing for new provider-level reporting under the OECD's Cryptoasset Reporting Framework. Crypto businesses started collecting customer information in January 2026, and HM Revenue & Customs anticipates receiving these reports in 2027 to compare against taxpayer declarations. Meanwhile, existing tax obligations remain unchanged, with returns and taxes for the 2025 to 2026 tax year due by January 31, 2027. Additionally, HM Revenue & Customs estimated that its compliance work generated £168 million in extra Capital Gains Tax for 2024 to 2025.