CoinDesk
HM Revenue and Customs said 17,600 UK taxpayers declared £1.38 billion in taxable crypto gains for the tax year ended April 5, 2025, an average of £78,000 per person. It was the first year HMRC broke out crypto capital gains after adding a dedicated section to the self-assessment return.
A total of 240 taxpayers reported more than £1 million each, accounting for £717 million of the gains. Almost 90% of those declaring taxable crypto disposals were men.
HMRC has begun implementing the OECD's Cryptoasset Reporting Framework and will begin receiving customer data from crypto service providers in 2027. The information will allow the tax authority to cross-check taxpayer disclosures.
HMRC said its compliance and education activity generated an additional £168 million in capital gains tax in 2024-25.
Frequently asked questions
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What tax period do HMRC's first crypto-gains figures cover?
They cover the UK tax year ended April 5, 2025.
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How much did the 240 taxpayers with more than £1M in gains report together?
Their combined reported crypto gains totaled £717 million.
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What was the average taxable crypto gain among the 17,600 taxpayers?
The average was £78,000 per person.
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What will HMRC use crypto service-provider data for from 2027?
It will use the data to cross-check taxpayer disclosures under the OECD's Cryptoasset Reporting Framework.
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How much additional capital gains tax did HMRC cite for 2024-25?
HMRC said its compliance and education activity generated an additional £168 million in capital gains tax during 2024-25.
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