240 UK taxpayers made more than $1.3 million each from crypto holdings in fiscal 2025
UK tax authorities reported that 17,600 taxpayers declared crypto gains for the 2025 fiscal year, with 240 individuals earning over $1.3 million each. The HMRC is preparing to implement the OECD's Cryptoasset Reporting Framework to improve tax compliance and cross-check data starting in 2027.
Why it matters
This data reflects the increasing integration of cryptocurrency into mainstream financial reporting and signals a shift toward more rigorous global tax enforcement on digital assets.
HM Revenue and Customs (HMRC) said 17,600 people, almost 90% of them men, declared taxable crypto disposals for the year ended April 5, 2025. The total taxable gains from digital assets amounted to 1.38 billion pounds ($1.77 billion), an average of 78,000 pounds per person.
The figures are the first time HMRC has broken out crypto capital gains, following the introduction of a dedicated section in the U.K.'s self-assessment return.
The tax authority has begun implementing the Cryptoasset Reporting Framework , an Organisation for Economic Cooperation and Development (OECD) standard requiring crypto service providers to report customer data to tax authorities. HMRC will start receiving that data in 2027, allowing it to cross-check information provided by taxpayers.
HMRC said its compliance and education activity generated an additional 168 million pounds ($228.2 million) in capital gains tax in 2024-25 alone.
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