240 Crypto Millionaires Booked Over Half of Britain's Taxable Crypto Gains
In brief HMRC said 240 people each declared more than £1 million in cryptoasset capital gains in the 2024-25 tax year, £717 million between them. Across all 17,600 individuals reporting crypto disposals, taxable gains came to £1.38 billion on £13.8 billion of proceeds.
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Key Facts
- Fact 1: In brief HMRC said 240 people each declared more than £1 million in cryptoasset capital gains in the 2024-25 tax year, £717 million between them.
- Fact 2: Across all 17,600 individuals reporting crypto disposals, taxable gains came to £1.38 billion on £13.8 billion of proceeds.
- Fact 3: Exchanges must begin reporting customer data to the tax authority from 2027 under a new OECD framework.
- Fact 4: Some 240 people declared more than £1 million each in cryptoasset capital gains during the 2024-25 tax year, the tax authority said Thursday, reporting £717 million between them.
In brief HMRC said 240 people each declared more than £1 million in cryptoasset capital gains in the 2024-25 tax year, £717 million between them. Across all 17,600 individuals reporting crypto disposals, taxable gains came to £1.38 billion on £13.8 billion of proceeds.
Exchanges must begin reporting customer data to the tax authority from 2027 under a new OECD framework. Britain's crypto gains are concentrated in very few hands, according to the first official figures HMRC has published on the sector. Some 240 people declared more than £1 million each in cryptoasset capital gains during the 2024-25 tax year, the tax authority said Thursday, reporting £717 million between them.
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