Key Takeaways
- • HM Revenue & Customs data reveals 240 British crypto investors reported capital gains exceeding £1 million in the 2024/2025 tax year, collectively accounting for £717 million in gains.
- • Total taxable capital gains from cryptoassets reached £1.38 billion across 17,600 individuals in the year to April 2025, representing an average gain of £78,000 per person.
- • This represents the first official publication of cryptoasset capital gains data following the introduction of a dedicated self-assessment tax return section for the 2024/2025 tax year.
- • James Murray MP, Financial Secretary to the Treasury, emphasized that the government is using tax compliance data to close the tax gap and ensure taxpayers pay their fair share on crypto gains.
- • Bitcoin reached a peak price of $126,198 in October 2025 following regulatory relaxation under the Trump administration, providing tailwinds for crypto asset valuations during the reporting period.
Summary
HM Revenue & Customs has published official data revealing that 240 British cryptocurrency investors booked capital gains exceeding £1 million in the 2024/2025 tax year, with combined gains totaling £717 million. The disclosure marks the first time such granular cryptoasset tax data has been released by the UK taxman, following the introduction of a dedicated capital gains section within the self-assessment tax return framework for the 2024/2025 tax year.
The broader dataset shows that total taxable capital gains from cryptoassets reached £1.38 billion across 17,600 individuals during the year to April 2025. This translates to an average reported gain of £78,000 per person, indicating significant wealth concentration among the subset of high-net-worth crypto investors. The distribution suggests that while crypto gains are widely spread across the investor base, the majority of absolute gains are concentrated among a smaller cohort of larger holders.
The timing of this data release coincides with a significant rally in cryptocurrency prices. Bitcoin reached a peak valuation of $126,198 in October 2025, driven by regulatory relaxation following President Trump's re-election and the associated rollback of stricter crypto oversight policies. This price appreciation provided substantial tailwinds for asset valuations during the tax year in question.
James Murray MP, Financial Secretary to the Treasury and Paymaster General, framed the data release within the government's broader tax compliance agenda. "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," Murray stated. He characterized the initiative as supporting efforts to close the tax gap and ensure equitable tax contribution across the population.
The publication of this data underscores the UK's increased focus on cryptoasset taxation and compliance. By establishing baseline reporting mechanisms through the dedicated self-assessment section, HMRC has created transparency around a previously opaque segment of the investment landscape, likely laying groundwork for enhanced enforcement and compliance monitoring in subsequent tax years.
The broader dataset shows that total taxable capital gains from cryptoassets reached £1.38 billion across 17,600 individuals during the year to April 2025. This translates to an average reported gain of £78,000 per person, indicating significant wealth concentration among the subset of high-net-worth crypto investors. The distribution suggests that while crypto gains are widely spread across the investor base, the majority of absolute gains are concentrated among a smaller cohort of larger holders.
The timing of this data release coincides with a significant rally in cryptocurrency prices. Bitcoin reached a peak valuation of $126,198 in October 2025, driven by regulatory relaxation following President Trump's re-election and the associated rollback of stricter crypto oversight policies. This price appreciation provided substantial tailwinds for asset valuations during the tax year in question.
James Murray MP, Financial Secretary to the Treasury and Paymaster General, framed the data release within the government's broader tax compliance agenda. "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," Murray stated. He characterized the initiative as supporting efforts to close the tax gap and ensure equitable tax contribution across the population.
The publication of this data underscores the UK's increased focus on cryptoasset taxation and compliance. By establishing baseline reporting mechanisms through the dedicated self-assessment section, HMRC has created transparency around a previously opaque segment of the investment landscape, likely laying groundwork for enhanced enforcement and compliance monitoring in subsequent tax years.
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