240 Crypto Millionaires Booked Over Half of Britain's Taxable Crypto Gains
HMRC’s first official crypto tax data show gains are highly concentrated. In 2024-25, 240 people declared more than £1 million each in cryptoasset capital gains, totaling £717 million. They were under 2% of the 17,600 people who reported crypto disposals, yet accounted for more than half of total crypto gains and disposal proceeds. At the other end, 65% reported gains below £25,000, contributing only 7% of gains and 8% of proceeds. Crypto taxpayers skew younger and more male than the wider capital gains population: 54% were aged 25-44, and 87% were men. Men booked 93% of gains. Despite attention, crypto remains a small part of overall capital gains, which reached £127 billion in 2024-25. The UK is also preparing for OECD crypto reporting rules, with service-provider data expected from 2027.
