HMRC published official statistics showing 240 individuals reported over £1 million in cryptoasset gains during the 2024-25 tax year, totaling £717 million. Total taxable gains from cryptoassets for 17,600 individuals amounted to £1.38 billion, with an average gain of £78,000 per person. The data, part of annual Capital Gains Tax statistics, marks the first release of this specific information. Around 87% of taxpayers reporting gains were male, 13% female. HMRC will receive data from cryptoasset service providers starting 2027 under the Cryptoasset Reporting Framework, aiding tax compliance. Non-compliant providers may face penalties up to £300 per user. Taxpayers must declare gains above the tax-free allowance by 31 January 2027 via Self Assessment.
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