HMRC Says 240 People Reported Over £1M in Crypto Gains

HM Revenue & Customs said August 27 that 240 people reported more than £1 million each in cryptoasset capital gains during the 2024 to 2025 tax year. Together, that group declared £717 million in gains, making high-value crypto disposals a newly visible segment of Britain’s tax base under HMRC’s first dedicated statistics for the asset class.

Across all taxpayers, 17,600 individuals reported Capital Gains Tax-liable crypto disposals, generating £13.8 billion in proceeds and £1.38 billion in taxable gains. The average gain reached £78,000 per person, while the new reporting data gives HMRC a clearer view of crypto wealth realization after introducing a dedicated Self Assessment section for cryptoasset gains.

The compliance framework is also tightening. Under the OECD’s Cryptoasset Reporting Framework, service providers will begin reporting customer information to tax authorities, with HMRC receiving data from 2027. Providers that fail to comply may face penalties of up to £300 per user, making automated information sharing the next major step in UK crypto tax enforcement.

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