The United Kingdom's cryptoasset capital gains are heavily concentrated among a small segment of investors, according to the first official figures published by HM Revenue & Customs. For the 2024-2025 tax year, 240 individuals declared capital gains exceeding £1 million each, collectively accounting for £717 million.
This high-net-worth group represents just 1.36 percent of all declarants but captured 51.96 percent of total taxable crypto gains. Across all 17,600 individuals who reported crypto disposals, total taxable capital gains reached £1.38 billion on £13.8 billion of proceeds. The median gain masks the concentration: average gains per person across the entire cohort were approximately £78,000.
The data release marks the first time HMRC has published such figures, following the introduction of a new self-assessment tax return section specifically for cryptoasset capital gains for the 2024-2025 tax year.
The period covered by the data coincided with significant appreciation in cryptoasset values. Bitcoin reached $126,198 in October 2025, following regulatory changes after President Trump's re-election.
James Murray, Financial Secretary to the Treasury and Paymaster General, said: "Taxes are due on cryptoasset gains just like any other gains, and we want to make sure people making gains from crypto know about what taxes they owe." Murray added that the initiative supports the government's efforts to narrow the tax gap.
The demographic breakdown of declarants shows most reporting crypto gains were under 55 years old, with men comprising 87 percent of the cohort.
