UK Crypto Investors Dominate Taxable Gains with £1 Million+ Declarations
The UK's tax authority, HMRC, has released figures showing that a small group of crypto investors booked over half of Britain's taxable crypto gains in the 2024-25 tax year.
According to HMRC, 240 individuals declared more than £1 million each in cryptoasset capital gains during this period, totaling £717 million. This group accounts for fewer than 2% of the 17,600 individuals who reported crypto disposals, yet they are responsible for over half of both the £1.38 billion in gains and the £13.8 billion in disposal proceeds.
The figures suggest that crypto investors tend to be younger and male, with 54% aged between 25 and 44, compared to 17% of capital gains taxpayers generally. Men made up 87% of those reporting crypto gains, and booked 93% of the gains.