HM Revenue and Customs published its first dedicated statistics on cryptoasset capital gains for the tax year from April 6, 2024 to April 5, 2025. 240 taxpayers each reported gains exceeding one million pounds, collectively accounting for 717 million pounds out of a total of 1.38 billion pounds in taxable gains. In total, 17,600 individuals reported taxable crypto gains with disposal proceeds reaching 13.8 billion pounds. The tax authority sent 81,000 warning letters in 2025-2026 to taxpayers suspected of underreporting. Starting in 2027, crypto platforms will be required to automatically report user transaction data to tax authorities in their home country.
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