UK Tax Authority Reveals 240 Millionaires Dominated Crypto Gains in 2024-25

The UK tax authority HMRC has released its first dedicated breakdown of crypto capital gains reported by UK taxpayers for the 2024-25 tax year. According to the data, 17,600 individuals declared a combined £1.38 billion in taxable crypto asset gains during this period.

A small group of 240 taxpayers dominated the numbers, with each individual reporting over £1 million in crypto capital gains. This group accounted for roughly 52% of the total £1.38 billion declared gains.

The gender split among crypto taxpayers was also notable, with around 87% being male and 13% female. HMRC introduced a dedicated cryptoasset section in its Self Assessment system to capture this data, which only covers gains that were voluntarily declared through tax returns.