UK tax data shows 240 people claimed over half of all crypto gains

Britain's crypto wealth sits with a tiny group

The first official UK figures on crypto taxes show that gains are concentrated in very few hands. According to HM Revenue and Customs (HMRC), published on August 27, 2026, 240 people declared more than £1 million in capital gains from cryptoassets during the 2024-25 tax year.

Together, that group paid tax on £717 million in profits. Despite making up less than 2% of the 17,600 individuals who reported crypto disposals, they accounted for over half of the total £1.38 billion in gains and £13.8 billion in proceeds.

In contrast, 65% of crypto taxpayers reported gains under £25,000. That larger group contributed only 7% of total gains and 8% of proceeds.

Who is paying the taxes

The data highlights a distinct demographic for crypto investors in the UK. They are younger and predominantly male compared to the general population of capital gains taxpayers.

Some 54% of crypto taxpayers are aged between 25 and 44, compared to just 17% of all capital gains taxpayers. Eighty-one percent of crypto taxpayers are 54 or under. Men made up 87% of those reporting crypto gains, while they account for 56% of capital gains taxpayers overall. Men also booked 93% of the gains.

Younger traders aged 25 to 44 were the most active. They accounted for 71% of all crypto disposal proceeds but only 45% of the gains, suggesting they trade more frequently but may realize smaller profits or take more losses.

Why these numbers exist now

These statistics are available for the first time because the UK Self Assessment tax return now includes a dedicated section for cryptoasset disposals. Previously, this information was lumped in with other property and assets, making it difficult to track separately.

Crypto remains a small part of the wider tax picture. Total capital gains in the UK hit a record £127 billion in 2024-25. However, HMRC cannot determine exactly how much of that total came from crypto because crypto liabilities are not separated from other assets taxed at the main rates.

New rules coming in 2027

Reporting standards are set to tighten soon. Under the OECD Cryptoasset Reporting Framework, which the UK began implementing in January, crypto service providers must hand customer information to tax authorities. HMRC will start receiving this data in 2027.

Service providers that fail to comply face penalties of up to £300 per user. James Murray, Financial Secretary to the Treasury, stated: "Taxes are due on cryptoasset gains just like any other gains."

There are also changes moving in the other direction. The Treasury plans to defer capital gains tax on decentralized finance (DeFi) lending and liquidity pool deposits. This means taxes would not be due until the assets are genuinely disposed of, rather than when they are deposited into these protocols.

Key figures

• 240 people declared gains over £1 million each.
• Total taxable gains from crypto: £1.38 billion.
• Total disposal proceeds: £13.8 billion.
• Male taxpayers make up 87% of crypto gain reporters.
• 54% of reporters are aged 25-44.

What is confirmed

It is confirmed that the top 240 UK crypto taxpayers held over half of all taxable gains in the 2024-25 tax year. It is also confirmed that the UK is moving toward automated data reporting from exchanges starting in 2027 under OECD rules.

Sources

• Decrypt