The UK’s HM Revenue & Customs, or HMRC, has separately disclosed crypto-asset gains data in personal income tax filings for the first time, according to CoinDesk. In the 2024-2025 tax year, 240 taxpayers reported more than £1 million in crypto capital gains, equivalent to about $1.36 million each at the cited conversion. A total of 17,600 people reported taxable gains from crypto-asset disposals, with aggregate proceeds reaching £1.38 billion, or about $1.87 billion. The average came to roughly £78,000, and nearly 90% of those filers were male. HMRC also said it has begun implementing the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework, which requires crypto service providers to submit customer data to tax authorities. The agency expects to begin receiving that data from 2027 and plans to use it to cross-check taxpayer filings. Separately, HMRC said compliance and education efforts brought in an additional £168 million in capital gains tax during the 2024-2025 tax year.
HM Revenue & Customs, or HMRC, has separately disclosed crypto-asset gains data in personal income tax filings for the first time, according to CoinDesk.
In the 2024-2025 tax year, 240 taxpayers reported more than £1 million in crypto capital gains, or about $1.36 million. Another 17,600 people reported taxable gains from crypto-asset disposals, totaling £1.38 billion, or about $1.87 billion. That worked out to an average of roughly £78,000, and nearly 90% of the filers were male.
HMRC said it has started implementing the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework, which requires crypto service providers to submit customer data to tax authorities. The agency expects to begin receiving the data in 2027 so it can cross-check taxpayer disclosures.
HMRC also said its compliance and education work brought in an additional £168 million, or about $228.2 million, in capital gains tax in the 2024-2025 tax year.
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