2nd January 2026
From 01 January 2026 HMRC are requiring Cryptoasset service providers (exchanges/ wallet providers / brokers) to collect and report information on their users to HMRC. There will be cross-border sharing of user data between HMRC and other international tax agencies.
HMRC will be provided with names, tax payer reference numbers, and crypto transaction data; such as value, type of asset, a number of units. With this data, HMRC are expecting to cross-reference against Self-Assessment Tax Return disclosures and hoping to collect some of the £100m of unpaid tax they expect is occurring annually.
Crypto gains made in the 2024/25 tax year need to be reported through a Self-Assessment Tax Return and for the first time, this is via a dedicated section of the Return. Any unreported gains prior to April 2024 can be reported to HMRC via a dedicated disclosure facility.
With more data available, HMRC are expected to increase the amount of contact and enforcement action with affected taxpayers.
If you are unsure how these changes affect your Self-Assessment reporting, our advisers can help. Contact a member of the team.
