HMRC Reports 240 UK Taxpayers Declared Over £1 Million in Crypto Gains

The U.K. His Majesty's Revenue and Customs (HMRC) disclosed that 240 taxpayers reported crypto capital gains exceeding £1 million in the 2024-2025 fiscal year. A total of 17,600 individuals reported taxable crypto gains amounting to £1.38 billion, with an average profit of £78,000 per person. HMRC is implementing the OECD's Crypto-Asset Reporting Framework to collect data from service providers by 2027 to improve tax compliance. Additionally, the agency collected £168 million in capital gains tax through recent compliance initiatives.