240 British taxpayers declare £ 717 million in capital gains on crypto assets, accounting for more than half of the total

Data from the UK Revenue and Customs Administration shows that 240 individuals each declared more than 1 million pounds of capital gains on crypto assets, totaling 717 million pounds, accounting for more than half of the total. Capital gains for all 17,600 filers were £ 1.38 billion, and disposal gains were £ 13.8 billion. Taxpayers reporting capital gains of less than £ 25,000 accounted for 65%, contributing 7% of capital gains and 8% of disposal proceeds. 54% of crypto asset taxpayers are aged 25 to 44, and 87% are male. The UK is advancing the OECD's crypto asset reporting framework, requiring trading service providers to provide customer information, and those who fail to fulfill their obligations face fines of up to £ 300 per user. James Murray, Financial Secretary of the UK Treasury, said that capital gains on crypto assets are subject to tax like other capital gains. The UK Treasury plans to defer capital gains tax on DeFi's borrowings and deposits of assets into the liquidity pool until the actual disposal of the assets. For the 2025 - 2026 tax years, capital gains exceeding the tax exemption limit must be declared before January 31, 2027.（Decrypt）