UK Reveals 240 Crypto Millionaires in First Official Tax Report

Key Takeaways

• The UK published its first official statistics on taxable crypto gains.
• 240 people each declared more than £1 million in crypto gains.
• 17,600 taxpayers reported £1.38 billion in total taxable gains.

First Official Tax Report Identifies 240 Crypto Millionaires

The UK government’s first official publication of taxable crypto asset gains showed that 240 people each declared more than £1 million in capital gains during the 2024-25 tax year. HM Revenue and Customs (HMRC), the country’s tax authority, released the data on Aug. 27, reporting that the group recorded £717 million collectively.

The findings form part of HMRC’s annual Capital Gains Tax statistics, which now include a dedicated table covering crypto asset taxpayers, disposal proceeds, and gains. HMRC stated:

“It is the first time HMRC has published this specific data, following the introduction of a dedicated part of the Self Assessment return for cryptoasset capital gains.”

Across the wider taxpayer population, 17,600 individuals reported £13.8 billion in crypto asset disposal proceeds and £1.38 billion in taxable gains, averaging approximately £78,000 each. The report also showed that approximately 87% of individuals declaring taxable crypto gains were male, while about 13% were female.