Crypto Tax Reporting UK 2026 – HMRC Self Assessment Guide
HMRC has published detailed crypto guidance and is actively enforcing compliance. Here is how to correctly report crypto on your UK Self Assessment return.
HMRC Treats Crypto as a Capital Asset
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Start for free →HMRC classifies most cryptocurrency as a capital asset subject to Capital Gains Tax (CGT). Frequent trading may be reclassified as trading income subject to Income Tax instead.
CGT Annual Exempt Amount 2025-26
Each individual has a CGT annual exempt amount of £3,000. Gains above this are taxed at 18% (basic rate) or 24% (higher/additional rate). Crypto losses can be offset against other capital gains.
Section 104 Pool and 30-Day Rule
UK investors must use the Section 104 pool – all purchases of the same crypto are averaged. The 30-day rule ("bed and breakfasting"): if you sell and repurchase within 30 days, the new shares are matched to the sale first to prevent artificial loss creation.
When to File Self Assessment
File if: taxable crypto gains exceed £3,000, total proceeds exceed £50,000, or you received crypto income over £1,000.
Deadlines
- Online Self Assessment: 31 January 2027 for 2025-26
- Paper return: 31 October 2026
- Tax payment: 31 January 2027
HMRC Data Gathering
HMRC has issued information notices to UK crypto exchanges and uses blockchain analytics. DAC7/CARF cross-border reporting is now active. HMRC sends "nudge letters" to known crypto holders – respond promptly and file correctly.
Related Resources
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Start for free →Disclaimer: This article is for general informational purposes only and does not constitute tax advice. For individual tax advice, consult a licensed tax professional.