Crypto Gains Concentrated Among UK's Richest Taxpayers

The UK's tax authority, HMRC, has released its first official figures on cryptocurrency gains. The data shows that just 240 individuals declared more than £1 million each in cryptoasset capital gains during the 2024-25 tax year, accounting for over half of both the £1.38 billion in gains and the £13.8 billion in disposal proceeds.

This group represents fewer than 2% of the 17,600 individuals who declared crypto disposals. In contrast, 65% of crypto taxpayers reported gains under £25,000, accounting for just 7% of gains and 8% of proceeds.

The figures also reveal that crypto taxpayers tend to be younger men. Some 54% are aged between 25 and 44, while 81% are 54 or under. Men made up 87% of those reporting crypto gains, against 56% across capital gains as a whole.