HMRC Reports Capital Gains Tax Data on Crypto Assets, 17,600 Individuals Declare Gains

The UK’s HM Revenue and Customs (HMRC) released capital gains tax statistics on August 27, indicating that for the tax year 2024 to 2025, taxpayers will need to separately declare their crypto asset disposals on their personal income tax returns for the first time. The data shows that 17,600 individuals declared gains from crypto assets in that year, with total disposal proceeds reaching £13.8 billion and realized gains amounting to £1.38 billion. Male taxpayers accounted for 87% of those declaring crypto asset gains, contributing 93% of the total gains. The distribution of gains is highly concentrated: taxpayers declaring gains over £1 million represent less than 2% of the total, yet they contributed to over half of the disposal proceeds and gains; meanwhile, taxpayers with gains below £25,000, who make up 65% of the total, contributed only about 7% to 8% of the disposal proceeds and gains. Additionally, 81% of the declarants are under the age of 54, with those aged 25 to 44 making up 54%.

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