On August 27, the UK’s tax authority, HM Revenue & Customs (HMRC), released its first separate statistics on taxable profits from cryptocurrency transactions. For the 2024-2025 period, 17,600 individuals declared £1.38 billion.
Taxes are due on cryptoasset gains just like any other gains. 📈
Through our targeted work on cryptoassets, including clear guidance and social media outreach, we helped taxpayers better understand their obligations which resulted in an additional £168 million of Capital Gains… pic.twitter.com/TOdHfM87Xp
— HM Revenue & Customs (@HMRCgovuk) August 27, 2026
The volume of digital asset transactions reached £13.8 billion, with an average profit per person of £78,000.
The data covers transactions subject to capital gains tax: the sale of digital assets, token exchanges, payments for goods and services, and certain types of coin transfers to third parties. Exceptions include gifts to a spouse, civil partner, or charity.
Income from mining, staking, lending, and receiving cryptocurrency as payment is accounted for separately under income tax and is not included in these figures.
More Than Half of Profits Attributed to 240 Individuals
A total of £717 million was attributed to 240 individuals, each declaring capital gains exceeding £1 million. This group represented less than 2% of all declarants.
Meanwhile, 65% reported gains not exceeding £25,000, accounting for only 7% of the total amount and 8% of the volume of digital asset disposals.
More than half of the declarants—54%—were aged between 25 and 44. This age group accounted for 17% of all capital gains taxpayers.
Men made up 87% of the statistics, accounting for 93% of all crypto profits.
During the reporting period, the total capital gains in the UK amounted to £127 billion, with crypto assets contributing about 1.1%. HMRC does not specify the exact tax revenue from these gains, as they are taxed under general rules.
Crypto Services to Report Data to Tax Authorities in 2027
As of January 1, 2026, the UK has implemented the Crypto-Asset Reporting Framework rules developed by the OECD. These require applicable crypto services to collect information on users and their transactions.
Providers must submit their first reports to HMRC from January 1 to May 31, 2027, covering transactions for 2026. Failure to provide information, delays, or submission of incomplete or inaccurate data may result in a fine of up to £300 per user.
The agency intends to use the information to identify undeclared profits and other cryptocurrency income.
Earlier, at the end of August, the UK government announced plans to give the Bank of England an additional mandate to support innovations in payment systems and new forms of digital money, including stablecoins.
