Share this article
UK to Add Crypto Declaration in Tax Forms
Taxpayers will have to record their crypto gains separately as of next year, the U.K. Treasury said.
Updated Mar 15, 2023, 4:26 p.m. Published Mar 15, 2023, 2:07 p.m.
Make us preferred on Google
U.K. taxpayers will have to separately report crypto assets on their tax forms in a move that is expected to raise an extra 10 million British pounds (US$12 million) per year for the public purse.
The move was announced by Chancellor of the Exchequer Jeremy Hunt in the annual budget on Wednesday.
STORY CONTINUES BELOW
“The government is introducing changes to the Self Assessment tax return forms requiring amounts in respect of cryptoassets to be identified separately,” to be introduced in the tax year that ends in April 2025, the U.K. Treasury said in a document published Wednesday.
A document published by tax authority HM Revenue & Customs said the change would apply to forms for capital gains tax, payable when investments are sold at a profit.
The government also said it would work to “maximize the potential” of the metaverse, while managing downside risks to privacy, security and harms.
UPDATE (March 15, 14:58 UTC): Adds reference to HMRC document in penultimate paragraph.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Australia's corporate regulator flags risks from rapid innovation in digital assets
The Australian Securities and Investments Commission has flagged digital assets and AI risks in its annual report.
What to know:
- Australia's corporate regulator, ASIC, warns that rapid growth in unlicensed crypto, payments and artificial intelligence firms has created regulatory gaps that expose consumers to risk.
- In its new "Key issues outlook 2026" report, ASIC says it is up to the government to decide whether emerging digital asset products and services should fall under existing regulatory frameworks.
Top Stories
