TLDR
- 17,600 UK individuals reported crypto capital gains in the 2024-25 tax year
- Combined disposal proceeds hit £13.8 billion, with £1.38 billion in reported gains
- 240 taxpayers each declared over £1 million in crypto gains, making up 52% of the total
- 87% of crypto taxpayers were male, 13% female
- New CARF rules will require crypto service providers to report transaction data to HMRC from 2027
UK tax authority HM Revenue and Customs has published its first dedicated breakdown of crypto capital gains reported by UK taxpayers, covering the 2024-25 tax year.
LATEST: 🇬🇧 HM Revenue and Customs revealed 17,600 individuals reported a combined £1.38B in taxable crypto asset gains in 2024–2025, with 240 people each declaring more than £1M. pic.twitter.com/1d30XSGHLn
— CoinMarketCap (@CoinMarketCap) August 28, 2026
The data shows 17,600 individuals reported crypto disposals that fell under Capital Gains Tax rules. Their combined disposal proceeds reached £13.8 billion, generating £1.38 billion in declared gains.
A Small Group Dominated the Numbers
The gains were heavily concentrated at the top. Just 240 taxpayers each reported more than £1 million in crypto capital gains during the year.
Together, that group declared £717 million, which works out to roughly 52% of the £1.38 billion total. Each of those 240 individuals reported gains above £1 million, equivalent to around $1.4 million.
The gender split among crypto taxpayers was wide. Around 87% were male and 13% were female.
HMRC introduced a dedicated cryptoasset section in its Self Assessment system to capture this data. The figures only cover gains that were voluntarily declared through tax returns.
Crypto disposals covered by the data include selling crypto for cash, swapping one crypto for another, using crypto to pay for goods or services, and certain transfers. Income from mining or staking may fall under Income Tax rather than Capital Gains Tax rules, so the figures do not cover all crypto-related earnings.
New Reporting Rules Are Coming
The figures were published as the UK’s Cryptoasset Reporting Framework moves into its active phase.
Crypto service providers started their CARF record-keeping duties on January 1, 2026. Their first reports, covering 2026 activity, are due between January and May 2027.
Under the framework, providers must collect customer information and transaction data and submit it to HMRC. Providers that fail to comply face penalties of up to £300 per user.
This will give HMRC a new layer of transaction data to compare against what taxpayers declare themselves.
HMRC also sent more than 81,000 letters to individuals suspected of underpaying crypto taxes. The agency said its broader crypto compliance work generated £168 million in additional Capital Gains Tax during 2024-25.
Globally, a Chainalysis estimate published on August 26 put potentially taxable onchain crypto activity at $457 billion worldwide in 2025. The US accounted for around $112.6 billion of that figure.
The January 31, 2027 deadline applies to crypto income and gains from the 2025-26 tax year. HMRC operates a Crypto Disclosure Service for those wishing to declare previously unpaid crypto tax.
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