240 crypto millionaires revealed in new government data

From:
HM Revenue & Customs and The Rt Hon James Murray MP
Published:
27 August 2026

• 240 people reported more than £1 million in capital gains from cryptoassets in the 2024 to 2025 tax year official statistics show, accounting for £717 million of cryptoasset gains between them.
• Total taxable capital gains from cryptoassets for 17,600 individuals were £1.38 billion in the 2024 to 2025 tax year, with an average gain of £78,000 reported per individual .
• Following the introduction of a new international framework, cryptoasset service providers will be required to report customer information to tax authorities. HMRC will start receiving this data from 2027.

Figures published today by HM Revenue and Customs (HMRC) reveal 240 people declared more than £1 million in capital gains from cryptoassets in the 2024 to 2025 tax year, with the same group reporting a total of £717 million in cryptoasset gains.

This data is published as part of HMRC’s annual Capital Gains Tax statistics. It is the first time HMRC has published this specific data, following the introduction of a dedicated part of the Self Assessment return for cryptoasset capital gains.

In the 2024 to 2025 tax year, there were 17,600 individuals making Capital Gains Tax-liable disposals of cryptoassets such as Bitcoin, Ethereum and Dogecoin. Collectively, these taxpayers reported total cryptoasset disposal proceeds of £13.8 billion  and gains of £1.38 billion.  The data also shows that around 87% of individuals reporting cryptoasset gains were male and around 13% were female.

James Murray MP, Financial Secretary to the Treasury and Paymaster General, said:

Taxes are due on cryptoasset gains just like any other gains, and we want to make sure people making gains from crypto know about what taxes they owe.

This important work is supporting the Government’s efforts to close the tax gap, so that everyone pays their fair share towards our vital public services.

John-Paul Marks, HMRC’s Permanent Secretary and Chief Executive, said:

We want to make it as easy as possible for people to understand and meet their tax obligations when it comes to cryptoassets.

As new international reporting rules come into force, it’s more important than ever for people to check they are paying any tax owed.

From January 2026, the UK began implementing the Cryptoasset Reporting Framework (CARF), an international standard developed by the Organisation for Economic Co-operation and Development (OECD).

Under CARF, cryptoasset service providers will be required to report customer information to tax authorities. HMRC will receive data from 2027, helping to identify cryptoasset gains and income that have not been declared.

Service providers that fail to comply may face penalties of up to £300 per user.

Cryptoasset transactions can trigger tax obligations. Capital Gains Tax may apply when an individual disposes of cryptoassets, such as selling or exchanging them for a different type of cryptoasset, while Income Tax and National Insurance may apply to cryptoassets received through employment, self-employment, mining, staking or lending.

Cryptoasset owners who have income or gains to declare from cryptoassets can declare any unpaid tax

Anyone with cryptoassets should declare any income or gains for the 2025 to 2026 tax year above the tax-free allowance, and pay any tax owed, on their Self Assessment tax return by the deadline on 31 January 2027.

Anyone unsure of their obligations can check guidance on GOV.UK which details which crypto asset transactions are taxable and how to report them.

Further information

• The annual accredited official Capital Gains Tax statistics were published on 27 August 2026.
• These figures follow HMRC’s dedicated upstream work on cryptoassets, including social media activity and new GOV.UK guidance since late 2023, designed to help cryptoasset owners get their tax affairs right and prevent non-compliance before it occurs. HMRC estimates that an additional £168 million of Capital Gains Tax was generated in 2024 to 2025 as a direct result of this compliance and education activity.
• Figures are rounded in the official statistics and may not sum.
• Disposals include selling cryptoassets; exchanging them for a different type of cryptoasset; using cryptoassets to pay for goods or services; and giving cryptoassets away to another person, other than as a gift to a spouse, civil partner or charity.
• Further information on Cryptoassets is available on GOV.UK.
• There is no equivalent Self Assessment box for cryptoasset income, such as mining or staking, which is reported separately through existing Income Tax provisions.

Updates to this page

Source: www.gov.uk