UK Crypto Investors Declare £1.38B in Gains, Top Earners Dominate

The UK's HM Revenue & Customs (HMRC) has released data on reported cryptocurrency gains, revealing that £1.38 billion in gains were declared by investors for the 2024 to 2025 tax year.

Of this total, a staggering 240 individuals accounted for more than half of these gains, with each reporting over £1 million in profits. These high-net-worth investors collectively earned £717 million in crypto gains.

The data was collected through the addition of a dedicated crypto section to Self Assessment returns, which captures declared Capital Gains Tax-liable disposals rather than every crypto transaction in Britain. This limitation is set to narrow as the UK implements the OECD's Cryptoasset Reporting Framework, which will provide HMRC with a separate dataset alongside taxpayers' own declarations.

HMRC estimates that its crypto compliance and education work generated £168 million of additional Capital Gains Tax during 2024 to 2025. The new statistics provide HMRC with a declared baseline before standardized third-party reporting begins in 2027, allowing the agency to compare reported gains with platform- recorded activity.