HM Revenue and Customs (HMRC) has revealed that 17,600 individuals reported a combined £1.38 billion in taxable gains from cryptoassets during the 2024–2025 tax year, highlighting the growing role of digital assets in the UK’s capital gains tax system.
The figures, published on August 27, 2026, also showed that 240 individuals each reported more than £1 million in cryptoasset capital gains. Together, this group accounted for approximately £717 million of the total reported crypto gains.
The data marks the first time HMRC has published specific official statistics on taxable cryptoasset gains, following the introduction of a dedicated section for cryptoasset capital gains in Self Assessment returns.
17,600 UK Taxpayers Report £1.38 Billion in Crypto Gains
According to HMRC, the 17,600 individuals made Capital Gains Tax-liable disposals of cryptoassets during the 2024–2025 tax year.
These taxpayers reported:
- £13.8 billion in total cryptoasset disposal proceeds
- £1.38 billion in total taxable gains
- An average reported gain of approximately £78,000 per individual
The figures cover taxable disposals involving cryptoassets such as Bitcoin, Ethereum and Dogecoin, among others.
It is important to distinguish between disposal proceeds and gains. The £13.8 billion figure represents the value involved in reported disposals, while the £1.38 billion figure represents the gains reported for tax purposes.
240 Crypto Investors Declared Gains Above £1 Million
The most striking finding in HMRC’s new data concerns the concentration of gains among high-value investors.
A total of 240 people reported cryptoasset capital gains exceeding £1 million each during the tax year.
Collectively, those investors accounted for £717 million in gains, representing more than half of the £1.38 billion total reported by all cryptoasset taxpayers.
The figures show how strongly cryptocurrency wealth can become concentrated during major market cycles, particularly among investors with large holdings or those who realized substantial gains after significant price appreciation.
HMRC Publishes Crypto Gain Data for the First Time
The new statistics are significant because they represent HMRC’s first dedicated publication of official data on cryptoasset capital gains.
From the 2024–2025 tax year, cryptoasset disposals, gains and losses began to be reported through a separate section of the SA108 Capital Gains pages in the Self Assessment return.
That change allowed HMRC to compile dedicated statistics on cryptoasset disposals and the taxpayers reporting those gains.
Previously, crypto-related gains could be included within broader capital gains reporting, making it more difficult to isolate the scale of taxable activity involving digital assets.
Most Crypto Gain Reporters Were Male
HMRC’s data also provides a demographic breakdown of taxpayers reporting cryptoasset gains.
Approximately:
- 87% were male
- 13% were female
The data also indicates that cryptoasset gains were reported by a relatively younger group compared with many other categories of capital gains taxpayers. More than half of the investors reporting crypto gains were aged between 25 and 44, according to reporting based on the official figures.
The demographic pattern reflects the broader trend of cryptocurrency adoption being relatively strong among younger investors.
What Counts as a Taxable Cryptoasset Disposal?
In the UK, simply holding cryptocurrency does not generally create a Capital Gains Tax liability.
However, HMRC can treat several types of transactions as a disposal for tax purposes.
These can include:
- Selling cryptoassets for fiat currency
- Exchanging one cryptoasset for another
- Using cryptoassets to pay for goods or services
- Giving cryptoassets to another person, subject to certain exceptions
Gifts between spouses or civil partners and certain charitable donations can be treated differently under the tax rules.
This means an investor may create a taxable event even without converting cryptocurrency directly into British pounds.
HMRC Steps Up Crypto Tax Compliance Efforts
The publication of the data comes as HMRC continues to increase its focus on cryptoasset tax compliance.
HMRC said that dedicated compliance and education work related to cryptoassets generated an estimated additional £168 million in Capital Gains Tax during 2024–2025.
The tax authority has also expanded educational efforts and guidance designed to help crypto holders understand their reporting obligations.
James Murray MP, Financial Secretary to the Treasury and Paymaster General, said the government wants people making gains from cryptoassets to understand the taxes they may owe.
The increased attention reflects a broader shift from treating cryptocurrency as a relatively niche tax issue to incorporating it more directly into mainstream tax enforcement.
HMRC to Receive More Crypto Data From 2027
A major change is also approaching for cryptocurrency platforms and tax authorities.
HMRC says that, following the introduction of a new international reporting framework, cryptoasset service providers will be required to report customer information to tax authorities.
HMRC is expected to begin receiving relevant data from 2027.
The reporting regime is linked to the Cryptoasset Reporting Framework (CARF), an international initiative designed to improve the exchange of information related to cryptoasset transactions.
The framework could make it significantly easier for tax authorities to compare information reported by taxpayers with data collected from cryptocurrency service providers.
What the New Reporting Rules Could Mean for Crypto Investors
The expansion of crypto reporting requirements could reduce the anonymity that some investors previously believed existed around cryptocurrency transactions.
While blockchain transactions can be pseudonymous, centralized exchanges and other crypto service providers often hold customer identification and transaction information.
Under the emerging reporting framework, relevant data may increasingly be shared with tax authorities.
For UK investors, this means maintaining accurate records of transactions is likely to become increasingly important.
Crypto users may need to keep track of:
- Purchase prices
- Sale prices
- Exchange transactions
- Transaction dates
- Fees and allowable costs
- Transfers between platforms
- Income received through certain crypto activities
The tax treatment of individual transactions can vary depending on the circumstances.
Crypto Gains Add to Record UK Capital Gains Activity
The crypto figures were released alongside HMRC’s broader Capital Gains Tax statistics for 2024–2025.
The wider data showed a substantial increase in reported capital gains activity across the UK. The Financial Times reported that total reported gains reached £127 billion, while Capital Gains Tax receipts reached £24.2 billion for the period.
Cryptoasset gains represented only part of the broader capital gains landscape, but their separate disclosure provides a clearer picture of the growing financial significance of digital assets.
The £1.38 billion in reported crypto gains demonstrates that cryptocurrency has become a meaningful component of taxable investment activity in the UK.
Bitcoin and Other Cryptoassets Drive Realized Gains
The 2024–2025 reporting period covered a period of substantial activity across the cryptocurrency market.
When digital asset prices rise significantly, investors who sell or exchange assets may generate taxable capital gains.
However, HMRC’s figures represent realized and reported gains, rather than the total increase in the market value of all cryptocurrency holdings.
An investor whose Bitcoin or Ethereum holdings increased in value but who did not make a taxable disposal would not necessarily appear in these figures for that unrealized appreciation.
This distinction is important when interpreting the £1.38 billion figure.
The data measures gains reported from taxable disposals rather than the total wealth held by UK crypto investors.
Crypto Tax Compliance Is Becoming More Important
HMRC’s latest figures suggest that the cryptocurrency tax system is entering a more mature phase.
The introduction of dedicated reporting fields has improved the government’s visibility into cryptoasset capital gains.
The upcoming international reporting framework could provide authorities with even more information about customer activity across crypto platforms.
For investors, this means assumptions that cryptocurrency transactions are outside the reach of tax authorities are becoming increasingly difficult to sustain.
HMRC has emphasized that income and gains from cryptoassets may need to be declared in the same way as income and gains from other taxable activities.
What Crypto Investors Should Know
HMRC says people with cryptoasset income or gains above applicable tax-free allowances must ensure they meet their reporting obligations.
For the 2025–2026 tax year, HMRC said taxpayers who need to declare cryptoasset income or gains should submit the relevant information and pay any tax due through their Self Assessment return by January 31, 2027, where applicable.
Investors who believe they may have undeclared crypto-related tax obligations can also use HMRC’s available disclosure and guidance services.
Tax treatment can depend on the nature of an individual’s transactions, so investors with complex or high-value activity may need professional tax advice.
Why HMRC’s £1.38 Billion Crypto Figure Matters
The new data provides one of the clearest official snapshots yet of cryptocurrency-related taxable activity in the UK.
Several key conclusions stand out:
Crypto investing has created substantial realized gains.
The £1.38 billion figure shows that digital assets are generating significant taxable profits.
High-value investors account for a large share of gains.
The 240 individuals reporting gains above £1 million collectively accounted for £717 million.
Crypto tax reporting is becoming more sophisticated.
Dedicated Self Assessment reporting has allowed HMRC to publish crypto-specific statistics for the first time.
Tax enforcement is likely to become more data-driven.
International crypto reporting rules are expected to give HMRC additional information from 2027.
Conclusion
HMRC has revealed that 17,600 individuals reported £1.38 billion in taxable cryptoasset gains during the 2024–2025 tax year, providing the UK government’s first detailed official picture of cryptocurrency-related capital gains.
The data showed that 240 investors each reported gains exceeding £1 million, with those individuals collectively accounting for £717 million in cryptoasset gains.
The statistics underline the growing importance of cryptocurrency within the UK’s tax system and come as HMRC strengthens its focus on digital asset compliance.
With dedicated crypto reporting already in place and new international information-sharing rules set to provide HMRC with additional customer data from 2027, the UK’s crypto tax environment is becoming increasingly transparent.
For crypto investors, the message is increasingly clear: gains from selling, exchanging or otherwise disposing of digital assets may carry tax obligations, and regulators are gaining more tools to identify and verify those transactions.
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