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HMRC reveals 240 crypto millionaires sitting on £717m in gains as taxman prepares crackdown

HMRC has already written to more than 81,000 suspected underpayers as new data reveals 17,600 crypto holders collectively declared £1.38 billion in taxable gains.
HMRC has already written to more than 81,000 suspected underpayers as new data reveals 17,600 crypto holders collectively declared £1.38 billion in taxable gains.

New HMRC data exposes 240 British investors who each booked over £1 million in cryptocurrency gains in the 2024-25 tax year, collectively declaring £717 million to the taxman. A total of 17,600 people reported cryptoasset gains of £1.38 billion, averaging £78,000 each. Published after HMRC introduced a dedicated crypto section in self-assessment returns, the figures represent an unprecedented dataset of their kind. From 2027, crypto platforms will be forced to hand customer data directly to HMRC under a new international reporting framework.

Around 87% of those reporting crypto gains were male, with 13% female.

HMRC has already written to more than 81,000 individuals believed to have underpaid tax on cryptocurrency holdings.

Platforms that fail to comply with the new data-sharing rules could be fined as much as £300 for each user on their books.

Moregrafa.comUK reports $975M crypto gainsbmmagazine.co.ukBritain's 240 crypto millionaires revealed in first HMRC cryptoasset tax datainsidermedia.com240 crypto millionaires revealed in new government datatradersunion.comHMRC data shows 240 UK taxpayers reported crypto gains above £1 millionkhabarpu.comUK government reports 240 crypto millionaires in 2025|Cointelegraphcryptoninjas.netUK Reveals 240 Crypto Millionaires With £1.38B in Taxable Gains Reportedthisismoney.co.ukMore than 200 British crypto investors are now millionairestradersunion.comUK tax data shows 240 crypto investors reported million-pound gains
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