240 UK taxpayers earned over $1M each from crypto in fiscal 2025

HM Revenue and Customs published its first dedicated statistics on cryptoasset capital gains in August 2026, covering the tax year from April 6, 2024, to April 5, 2025. The headline figure is striking: 240 individuals each reported gains exceeding £1 million from crypto disposals, with that cohort collectively pocketing £717 million.

The numbers behind Britain’s crypto wealth boom

Across the entire dataset, 17,600 people reported taxable crypto gains, generating £1.38 billion in total, with the average gain sitting at £78,000 per person. The total disposal proceeds reached £13.8 billion over the course of the tax year.

The 240 high-earning taxpayers represent just 1.4% of the people who reported any crypto gain at all, yet their £717 million slice accounts for roughly half of the total £1.38 billion figure.

This data exists because HMRC added a dedicated crypto section to its Self Assessment tax return forms, which gave the agency a cleaner way to isolate digital asset income from the broader capital gains category.

For context, total CGT receipts across all asset classes in the UK reached £24.2 billion for the period, representing an 89% increase year-on-year.

HMRC is not waiting around

The agency issued more than 81,000 warning letters in 2025/26 to taxpayers suspected of underreporting or omitting crypto gains, nearly three times the volume sent in the prior year. Those letters are tied to unpaid liabilities stretching back across the 2022 to 2025 market cycle.

The most significant piece of international compliance architecture is set to go live in 2027, when automatic reporting from crypto platforms across participating jurisdictions is scheduled to begin. Under this framework, exchanges will be required to report user transaction data directly to tax authorities in the user’s home country. Voluntary disclosure before automatic reporting begins typically results in lower penalties than being caught after the fact.

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