Progression of tax requirements on cryptoassets
HMRC finally published their official Cryptoasset Taxation Manual confirming they are taxable.
December 2021
March 2021
First crypto nudge letter from HMRC.
November 2023
HMRC has introduced a new disclosure facility specifically for cryptoasset-related tax liabilities.
September 2024
Further rounds of nudge letters sent out.
November 2024
The Financial Conduct Authority (FCA) published a roadmap for the UK’s crypto regulation regime.
1 January 2026
Crypto Asset Reporting Framework coming in, referred to as “crypto crackdown”. This will force cryptoasset service providers to collect certain data and report it to HMRC.
31 January 2027
Cryptoasset service providers will need to register and tell users they are reporting their data.
31 May 2027
Cryptoasset service providers will need to submit their first report to HMRC.
*Select the dates to read more
*If you have crypto gains or income from crypto which you think may need to be reported on a Tax Return annually.
What do investors need to do now?
Check from 6 April to 5 April and calculate if you need to report your crypto gains and income on your tax return.
5 April
Register for Self Assessment with HMRC.
5 October
Read more
31 January
Submit your yearly Tax Return.
Example: your 2024/25 Tax Return which covers the period 6 April 2024 to 5 April 2025, needs to be submitted and your tax payment needs to be paid by 31 January 2026. If you are in the payments on account regime, half of your next years’ estimated tax payment will need to be made by this date.
Half of your next years estimated tax payment will need to be made by this date, if you are in the payments on account regime.
31 July
Cryptoasset service providers will need to submit their first report to HMRC.
Cryptoasset service providers will need to register and tell users they are reporting their data.
Crypto Asset Reporting Framework coming in, referred to as “crypto crackdown”. This will force cryptoasset service providers to collect certain data and report it to HMRC.
The Financial Conduct Authority (FCA) published a roadmap for the UK’s crypto regulation regime.
