UK Crypto Gains: £1.38B Declared — 240 People Took More Than Half

HMRC has a new crypto snapshot: taxpayers reported a total of £1.38 billion in capital gains from crypto for the 2024–25 year — but before you imagine a nation of millionaires, know this: a tiny gang of high-rollers pocketed most of it.

Small club, big wallets

From Self Assessment returns that now include a crypto section, 17,600 people declared about £13.8 billion in disposal proceeds and £1.38 billion in gains. Yet just 240 individuals — each reporting over £1 million in gains — accounted for roughly £717 million of that haul. Translation: a very small number of people did a very large chunk of the heavy lifting (and the bragging rights).

Keep in mind these figures only cover what people declared as Capital Gains Tax–liable disposals. They don’t capture every crypto trade that happened in the UK, nor do they reveal transactions that were left off tax returns.

Why the numbers might change (and why you should care)

The reporting landscape is shifting. Crypto firms began gathering customer and transaction information in early 2026 under new international rules, and tax authorities expect to receive provider reports in 2027. That gives HMRC a fresh dataset to compare with taxpayers’ own filings, making it easier to spot any mismatches between what platforms recorded and what people declared.

That doesn’t delay your tax duties: if you had reportable crypto gains or income for the 2025–26 tax year, you still need to file and pay by 31 January 2027. Separately, HMRC says its targeted compliance and education work produced about £168 million in extra capital gains tax in 2024–25 — so the agency is actively following the money.

Also worth remembering: “crypto tax” wears multiple hats. Disposals can trigger Capital Gains Tax, but income from jobs, mining, staking, or lending may be treated as income and taxed differently. The new stats create a declared baseline now, and from 2027 onward HMRC will increasingly be able to cross-check platform records with what people report — which could tidy up (or complicate) the picture of who really gained what.