The UK’s HM Revenue & Customs has released capital gains tax data tied to crypto assets for the first time, according to Bloomberg. The figures show that in the 2024-25 tax year, more than 17,000 taxpayers reported £13.8 billion in proceeds from crypto asset sales. The disclosure also showed that fewer than 2% of taxpayers accounted for most of those gains, with a total of £1.38 billion.
Separate data for the same period showed the UK collected £24.2 billion in overall capital gains tax, up 89% year over year. Bloomberg said the release gives regulators the first official benchmark for crypto assets’ contribution to tax revenue in the country. The disclosure marks the first time HMRC has published this category of crypto-related capital gains tax data.
HM Revenue & Customs has published capital gains tax data tied to crypto assets for the first time, according to Bloomberg. In the 2024-25 tax year, more than 17,000 taxpayers reported £13.8 billion in proceeds from crypto asset sales.
The data also showed that fewer than 2% of taxpayers accounted for most of the reported gains, totaling £1.38 billion.
First official crypto tax benchmark
For the 2024-25 tax year, the UK collected £24.2 billion in overall capital gains tax, up 89% from a year earlier.
Bloomberg said the disclosure gives regulators the first official benchmark for crypto assets’ contribution to tax revenue.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
