HMRC publishes its first crypto tax figures: what they mean
HMRC's first official crypto gains statistics show 17,600 people declared gains in 2024 to 2025. Here is what the figures say and what to do next.
Sham Sadiq· 1 min read
HMRC has published its first ever official figures on crypto gains. For the 2024 to 2025 tax year, 17,600 people declared gains, and HMRC says its compliance work raised an extra £168 million in tax.
What the figures show
- 17,600 people declared crypto gains in 2024 to 2025.
- £13.8 billion in disposal proceeds, which is the total value of crypto sold, swapped or spent.
- £1.38 billion in declared gains, an average of about £78,000 per person.
The big earners
240 people each declared gains of more than £1 million.
HMRC’s compliance work
HMRC estimates that its compliance and education work raised an extra £168 million in Capital Gains Tax for 2024 to 2025. This is an estimate, not a final figure.
What this means for you
Selling, swapping and spending crypto can all trigger tax. HMRC now publishes data on crypto gains, so accurate records matter more than ever. That applies to individuals filing Self Assessment and to companies that use crypto as a form of payment.
A good starting point is to:
- Gather your transactions from every exchange and wallet.
- Check that gains and losses are recorded correctly for each disposal.
- Tidy up any gaps before your Self Assessment return.
Not sure your crypto records are right? Get in touch with Swabi and we’ll help you get them in order.
This article is general guidance, not personal tax advice.
Sources
This article is general information based on HMRC guidance at the time of writing and isn't personal tax advice. Rules change, so please get advice for your own circumstances.
