Cryptocurrency holders warned after Budget 2025 reiterates that crypto platforms will start recording the gains made on these assets on 1st January 2026, ahead of sharing it with HMRC.
Anyone who buys or sells cryptocurrency is being urged to get their tax affairs in order, after the Government confirmed in Budget 2025 that HMRC will soon start receiving detailed financial information directly from crypto platforms.
From 1st January 2026, major cryptocurrency exchanges will be required to collect full transaction records for their UK customers – including how much they paid, how much they sold for and any profits made.
This is part of the government’s wider clampdown on tax avoidance. With these platforms to become responsible for recording and, in time, sharing the financial information of crypto holders with HMRC, the tax office will have visibility of the amount of tax that should be paid.
From 2027, these platforms...