UK HMRC Publishes First Crypto CGT Snapshot: 17,600 People Reported Gains
AI Market Summary
UK HMRC's first dedicated reporting of crypto disposals for 2024–2025 formalizes tax visibility, with 17,600 filers, £13.8bn in proceeds and £1.38bn in realized gains. The data highlights highly concentrated gains and a younger participant base, underscoring institutionalization of compliance and potential shifts in after-tax behavior. Short term, clearer reporting requirements can affect UK-linked liquidity timing and tax-driven disposal patterns.
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● Medium
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UK tax authority HM Revenue and Customs (HMRC) has released new capital gains tax (CGT) statistics showing that, in the 2024–2025 tax year, taxpayers were required for the first time to report disposals of cryptocurrency assets separately on their income tax returns.
The figures indicate that 17,600 individuals declared gains from crypto disposals. Total disposal proceeds reached £13.8 billion, while realized gains came in at £1.38 billion.
The dataset also highlights a pronounced gender skew. Men accounted for 87% of crypto gain reporters and generated 93% of total gains, well above the 56% male share among all CGT filers.
Gains were highly concentrated. Taxpayers reporting more than £1 million in gains made up under 2% of filers but represented over half of both total disposal proceeds and realized gains. At the other end, those with gains below £25,000 comprised 65% of filers yet contributed only about 7% to 8% of total proceeds and gains.
Crypto gain reporters also skew younger. Filers under 54 made up 81% of the total, with the 25–44 bracket accounting for 54%, compared with 17% for the same age group among all CGT filers. (Source: Foresight News)
