Crypto Tax: 240 UK Taxpayers Report £1M Gains – What Changes?

Those 240 taxpayers represented approximately 1.4% of the people in the dataset but generated around 52% of the gains. The more widely relevant development begins in 2027, when HMRC starts receiving customer and transaction data directly from cryptoasset service providers.

A swap between two cryptocurrencies can create a taxable gain before any pounds enter a bank account. CARF will give HMRC additional records against which to check those transactions.

This article concerns individual UK taxpayers. Different rules can apply to companies, trustees, people trading as a business and those whose tax residence is outside the UK.

A small group generated half the reported gains

The figures cover individuals who reported Capital Gains Tax-liable cryptoasset disposals through the dedicated section of their 2024–2025 Self Assessment returns.

Read Entire Article

1. Homepage
2. Finance
3. Crypto Tax: 240 UK Taxpayers Report £1M Gains – What Changes?