UK HMRC Crypto Gains Data 2024-25: Concentration and CARF Timeline
HMRC figures show 240 UK taxpayers reported over half of all crypto capital gains in 2024-25 as nudge letters rose 25% and CARF reporting begins in 2027.
HM Revenue and Customs recorded 17,600 individuals declaring taxable crypto capital gains on £13.8 billion in disposal proceeds for the 2024-25 tax year, producing £1.38 billion in total gains.
Of those, 240 individuals each reported gains above £1 million, together accounting for £717 million or 52% of the total.
The 2024-25 tax year was the first with a dedicated crypto section on Self Assessment returns.
Enforcement steps
HMRC sent approximately 81,000 nudge letters to crypto investors over the past year, a 25% increase from the prior year.
The UK will begin receiving CARF data from crypto service providers in 52 jurisdictions starting May 2027.
The amount of tax ultimately paid by the 240 largest gain reporters is not disclosed, and the £13.8 billion in disposal proceeds does not equal net gains.