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The UK government has released the first official statistics on taxable crypto asset gains, revealing that in the 2024-25 tax year, 240 individuals reported capital gains exceeding £1 million, totaling £717 million, which accounts for more than half of the total £1.38 billion reported by 17,600 individuals. The HM Revenue and Customs (HMRC) stated that 17,600 individuals reported crypto asset disposal gains of £13.8 billion, with taxable gains of £1.38 billion, averaging about £78,000 per person; of these, approximately 87% were male and 13% were female.Selling, exchanging, consuming tokens, or gifting assets to others may trigger tax obligations. HMRC has sent out 81,000 crypto tax letters in the past 12 months, an increase of 25% from about 65,000 letters, approaching the 27,714 letters sent in the 2023-24 tax year. James Murray, the Financial Secretary to the Treasury and Director of Payments, stated that crypto asset gains are subject to tax just like other gains. The UK plans to adjust the tax treatment of certain DeFi transactions starting from April 6, 2027, with related lending and liquidity pool transactions typically deferring capital gains tax until an economic disposal occurs, expected to affect about 700,000 individuals. HMRC estimates that its crypto tax compliance and education activities have generated an additional £168 million in capital gains tax for the 2024-25 fiscal year.

The UK's HM Revenue and Customs (HMRC) stated that for the 2024 to 2025 tax year, 240 individuals each reported capital gains from crypto assets exceeding £1 million, totaling £717 million, accounting for more than half of the total. The capital gains of all 17,600 filers amounted to £1.38 billion, with disposals totaling £13.8 billion. Taxpayers reporting capital gains below £25,000 accounted for 65%, contributing only 7% of the capital gains and 8% of the disposals.Among crypto asset taxpayers, 54% are aged between 25 and 44, and 81% are under 54; males account for 87%, contributing 93% of the capital gains. The UK is advancing regulation based on the OECD crypto asset reporting framework, requiring trading service providers to provide customer information to tax authorities, with HMRC set to start receiving relevant data in 2027; service providers failing to comply will face fines of up to £300 per user. James Murray, Financial Secretary to the Treasury, stated that capital gains from crypto assets are subject to tax just like other capital gains. The UK Treasury plans to defer capital gains tax on DeFi lending and assets deposited into liquidity pools until the actual disposal of the assets. For the 2025 to 2026 tax year, capital gains exceeding the tax-free allowance must be reported by January 31, 2027.

According to CoinDesk, the UK's HM Revenue and Customs (HMRC) has disclosed cryptocurrency earnings data separately for the first time in personal income tax returns. In the 2024-2025 fiscal year, a total of 240 taxpayers reported capital gains from cryptocurrencies exceeding £1 million (approximately $1.36 million), while 17,600 individuals reported taxable gains from cryptocurrency disposals, totaling £1.38 billion (approximately $1.87 billion), with an average of about £78,000 per person, of which nearly 90% were male.HMRC stated that it has begun implementing the OECD's cryptocurrency reporting framework, which requires cryptocurrency service providers to submit customer data to tax authorities, with the expectation of receiving relevant data starting in 2027 to cross-check taxpayer reporting information. In addition, HMRC mentioned that in the 2024-25 fiscal year, an additional £168 million (approximately $228.2 million) in capital gains tax was collected through compliance and educational activities.

The UK’s HM Revenue and Customs (HMRC) has sent out 81,000 warning letters to cryptocurrency investors suspected of unpaid taxes over the past 12 months, an increase of 25% from approximately 65,000 letters in the previous year. These letters aim to prompt recipients to disclose unpaid taxes, after which HMRC will initiate a formal investigation.Cryptocurrency exchanges, using tokens to purchase goods or services, and gifting tokens to others may all constitute taxable disposals. Income generated from activities such as lending and staking may be subject to income tax rules, and UK residents are generally required to pay tax on relevant income and gains worldwide.Rules set to be implemented in April 2027 will apply a no gain, no loss treatment to eligible crypto lending and automated market-making arrangements until an economic disposal occurs, expected to affect around 700,000 individuals. The crypto asset reporting framework requires service providers to submit transaction data for 2026, covering the reporting period from January 1, 2027, to May 31, 2027. It is anticipated that 52 jurisdictions will exchange relevant data in 2027, with an additional 15 jurisdictions joining in 2028.

According to Protos, the UK's HM Revenue and Customs (HMRC) sent over 81,000 warning letters to suspected tax-evading cryptocurrency holders in the 2025/2026 fiscal year, nearly tripling from 27,714 letters in 2024. HMRC believes that most unpaid taxes stem from capital gains during the bull market from 2022 to 2025.The letters remind users that selling, gifting, exchanging, or using cryptocurrency for consumption may trigger capital gains tax obligations, and violators could face penalties of up to 100% of the tax owed plus interest, with harsher penalties for offshore transfers. Additionally, HMRC expects to gain new powers next year to compel foreign cryptocurrency platforms to disclose user information, anticipating an additional £315 million in tax revenue by 2030.

The UK's tax authority HMRC announced that starting from April 6, 2027, it will adopt a "no gain, no loss" tax treatment for cryptocurrency lending and liquidity pools, which is expected to affect approximately 700,000 people.

According to The Block, the UK's HM Revenue and Customs (HMRC) is exploring the procurement of blockchain forensic software and investigative support services to enhance its efforts against money laundering and tax fraud involving digital assets.A market research announcement released this week indicates that HMRC plans to procure licensing and investigative support services, covering functionalities such as blockchain data queries, cross-chain transaction tracking, attribution analysis, risk scoring, and data visualization. The proposed total contract value is approximately £3.42 million (about $4.6 million), for a duration of three years, with the possibility of extension until March 2030. The contract includes 55 annual software licenses and 20 corresponding investigative support hours, along with investigator training.Colby Mangels, former OECD advisor and Head of Global Government Solutions at Taxbit, stated that this move reflects the global government's emphasis on building compliance infrastructure for digital assets. Investigative work increasingly relies on cross-chain tracking, forensic analysis, and real-time blockchain data access, demonstrating the UK's commitment to setting an example in crypto compliance and regulatory transparency.

Starting from April 6, with the new fiscal year, UK investors will no longer be able to add cryptocurrency exchange-traded notes (ETNs) to their Stocks and Shares ISA tax-free accounts.The UK tax authority HM Revenue and Customs (HMRC) has classified cryptocurrency ETNs as an asset class applicable only to the Innovative Finance ISA, and currently, there are no mainstream platforms planning to offer related product support. Investors who already hold cryptocurrency ETNs in their ISA accounts are not required to sell them. HMRC stated that, given the innovative nature of cryptocurrency assets and the fact that the market is still developing, it will continue to assess whether related policies need to be adjusted in the future.

According to the Financial Times, the UK and more than 40 other countries have implemented new tax regulations for crypto assets.Under the Crypto-Asset Reporting Framework (CARF) established by the Organisation for Economic Co-operation and Development (OECD), major crypto exchanges are required to collect complete transaction records for UK users and report user transaction details and tax residency status to Her Majesty's Revenue and Customs (HMRC).

According to CoinDesk, the UK's HM Revenue and Customs (HMRC) has issued new regulations requiring cryptocurrency exchanges operating in the UK to begin collecting complete transaction records of all their UK customers starting January 1, 2026, and share them with HMRC the following year. HMRC will use the collected data to verify tax returns, ensure compliance, and impose penalties for violations.The new guidelines from HMRC align the UK with the OECD's Crypto-Asset Reporting Framework (CARF), which aims to enhance the transparency of the rapidly growing digital asset market and is currently being promoted in countries and regions such as the EU, Canada, Australia, Japan, and South Korea.