UK Crypto Tax Gains Reach £1.38B as HMRC Sees Compliance Boom

HMRC has reported that UK taxpayers declared £1.38 billion in taxable cryptocurrency gains for the year ended April 5, 2025. The data marks the first time HMRC has broken down crypto gains as a separate category, following the addition of a dedicated section to the UK's self-assessment return.

The breakdown reveals that 17,600 taxpayers reported crypto gains, with an average taxable digital-asset gain of £78,000 among those reporting. Almost 90% of the taxpayers in the dataset were men.

HMRC expects to begin receiving data from participating crypto service providers through the OECD's Crypto-Asset Reporting Framework starting in 2027. This framework will allow for more accurate tracking and comparison of platform records with individual taxpayer disclosures.