HMRC Set to Receive Crypto Data Directly from Exchanges in 2027, Impacting Millions of UK Taxpayers
London, UK – A key measure announced in Budget 2025 will see the UK tax authority, HMRC, gain direct access to cryptocurrency transaction data from major exchanges beginning in 2027, perhaps impacting as many as 13-14 million UK adults who currently hold digital assets. The move, part of a wider goverment effort to combat tax avoidance, will require crypto platforms to report detailed financial information – including purchase price, sale price, and profits – on their UK customers.
From January 1st, 2026, cryptocurrency exchanges will be mandated to collect complete transaction records. This data will than be shared with HMRC starting in 2027, providing the tax office with unprecedented visibility into capital gains made through cryptocurrency trading.
The initiative stems from the UK’s commitment to the global Crypto-Asset Reporting Framework (CARF), designed to increase transparency within the rapidly expanding digital asset market.
experts are urging individuals who buy, sell, or trade cryptocurrencies – including Bitcoin, Ethereum, and smaller tokens – to ensure accurate reporting of profits on their self-assessment tax returns. HMRC intends to use the incoming data to identify and address undeclared gains.
“This marks a major shift in how crypto trading is monitored from a tax outlook,” saeid Seb Maley, CEO of tax insurance provider Qdos. “HMRC will soon know exactly who is making gains – and how much.”
Maley further warned, ”Anyone who holds or trades cryptocurrency must ensure they are reporting the gains on their self-assessment tax return. HMRC is set to have more information and data at its fingertips than ever before. With platforms set to keep a record of this information from 1st January 2026, ahead of sharing it with HMRC the year after, the tax office will be able to cross-check tax returns against the data they’ve received. And it goes without saying, that HMRC will have no hesitation in launching an investigation if the numbers don’t match.”
Recent research indicates that approximately 24% of UK adults - roughly 13-14 million people – currently hold some form of cryptocurrency. https://bitkan.com/learn/how-many-people-hold-crypto-in-the-uk-why-is-adoption-accelerating-65907?utm_source=chatgpt.com
###
NOTES:
Qdos, an award-winning tax insurance provider and consultancy with over 25 years’ experience, supports tens of thousands of self-employed workers. CEO Seb maley is available for comment and interview. Contact ben@levo-agency.co.uk or call 07496736688.
