240 UK crypto investors accounted for half of £1.38bn gains

HM Revenue & Customs published its first crypto-specific Capital Gains Tax figures for the 2024–25 tax year, showing 17,600 UK taxpayers reported £1.38 billion in crypto capital gains. Of those reporters, 240 individuals who each declared more than £1 million in gains accounted for a combined £717 million, about 52% of the total.

The figures come from a new crypto section added to Self Assessment tax returns. The same group of taxpayers declared £13.8 billion in cryptoasset disposal proceeds alongside the £1.38 billion in gains. The statistics cover disposals liable for Capital Gains Tax and reflect what individuals reported to HMRC rather than a complete record of every crypto transaction in the UK.

The data excludes some crypto-related liabilities treated as income rather than capital gains. Income from employment, mining, staking and lending can fall under Income Tax rules and are not included in the capital gains totals. The published numbers also do not capture any activity that taxpayers did not report.

The UK is implementing the OECD’s Cryptoasset Reporting Framework. Crypto firms began collecting customer and transaction information in January 2026, and HMRC expects to start receiving provider-level reports in 2027. Those provider reports will give HMRC a separate dataset to compare with taxpayers’ Self Assessment returns and identify discrepancies between platform records and individual declarations.

Taxpayers with reportable crypto gains or income for the 2025–26 tax year must file Self Assessment returns and pay any tax due by January 31, 2027. HMRC also estimated that its compliance and education activity related to crypto generated an additional £168 million in Capital Gains Tax during 2024–25.